© 2020
The WHO, on Wednesday, declared the coronavirus outbreak a pandemic.
On
Feb. 25, 2020 Science News wrote the following on coronavirus and
pandemic.
“According to the World Health Organization, a pandemic is the worldwide spread of a new disease. It’s
most often used in reference to influenza, and generally connotes that an
epidemic has spread to two or more continents with sustained, person-to-person
transmission.
The severity of illness doesn’t fall under the WHO’s strict
definition of a pandemic — just the disease’s spread — though the WHO may take
the overall burden of the disease into account before declaring a pandemic. As
the top global health agency, the WHO is relied upon to be the first to make
the pandemic declaration.”
The DJI
closed down today just over 20% from its high on Feb 12. Many are now calling the four-week downtrend
a bear market. If one chooses that point
of view, then the next uptrend will be a new bull market.
All
eleven
sectors were lower on Wednesday, led by XLV, XLC and XLK
SPY down 14.06 at 274.36 on 275.5 million shares, above average
volume. Down on lower volume.
VIX up 6.60 at 53.90
UNH, CVX, KO led the DJIA, 0 advancers, -30
DLR, AON, AKAM led the SPX, 9 advancers
GILD, TMUS, AMD, WLTW led the NDX, 6 advancers
Long term up
trend intact. 3-day short term trend is down.
Up:
Down: QQQ,
SPY, DIA, IWM,
Breadth weakened,
on Wednesday as decliners led 2,857 to 169 on the NYSE and led 2,937 to 375 on
the NASDAQ
The SPX
MFC green line is pointed down at 16 and is short-term
bearish.
Uptrend sectors:
Neutral sectors:
XLK, XLV, XLU, XLRE, XLC,
Down trend sectors: XLP,
XLY, XLI, XLB, XLF, XLE,
The 6-month intermediate
trend is down a little. The ten-day trend is down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
6 of 100 NDX stocks
closed higher on Wednesday.
4 NDX stocks are above their 30 DMA: GILD, REGN, JD, TTWO,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 0
Moving Below 30 DMA = 3
CSGP,
DLTR, ORLY,
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