SPX Bounces Counter Trend

© 2020

The DJI closed at 21,237, +1,048, +5.20%, bounced counter trend.  VIX closed at 75.91.

All eleven sectors were higher on Tuesday, led by XLU, XLP and XLK

SPY up 12.95 at 252.80 on 262.0 million shares, above average volume.  Up on lower volume.

VIX down 6.78 at 75.91

DOW, TRV, INTC led the DJIA, 27 advancers, +27

LYB, SO, PBCT led the SPX, 396 advancers

EXC, KLAC, CTXS, CTSH led the NDX, 89 advancers

Long term up trend intact.  3-day short term trend is down.

Up: QQQ, DIA, SPY, IWM,

Down:

Breadth strengthened, on Tuesday as advancers led 1,814 to 1,203 on the NYSE and led 2,243 to 1,119 on the NASDAQ

The SPX MFC green line is pointed down slightly at 9 and is short-term bearish. 

Uptrend sectors: 

Neutral sectors:  XLK, XLV,

Down trend sectors: XLU, XLRE, XLC, XLP, XLY, XLI, XLB, XLF, XLE,

The 6-month intermediate trend is down.  The ten-day trend is down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

89 of 100 NDX stocks closed higher on Tuesday.

4 NDX stock is above their 30 DMA:  REGN, CTXS, GILD, TTWO,

NDX Stocks to Watch on Wednesday:

Moving Above 30 DMA = 3

CTXS, GILD, TTWO,

Moving Below 30 DMA = 2

Add Comments here