© 2020
The DJI
closed at 23,185, +1,985, +9.36%, the
largest daily percentage gain since the 2008.
On Friday, the President declared a national state of emergency due to
the coronavirus outbreak and outlined a series of actions the government will
take and investors’ buying indicated they like what they heard.
All
eleven
sectors were higher on Friday, led by XLF, XLK and XLE
SPY up 21.21 at 269.32 on 329.5
million shares, above average volume. Up
on lower volume.
VIX down 17.64 at 57.83
INTC, AXP, JPM led the DJIA, 30 advancers, +30
LNC, COTY, AMP led the SPX, 488 advancers
KHC, ADBE, ADSK, KLAC led the NDX, 96 advancers
Long term up
trend intact. 3-day short term trend is down.
Up: DIA,
SPY, QQQ, IWM,
Down:
Breadth strengthened,
on Friday as advancers led 2,648 to 376 on the NYSE and led 2,481 to 875 on the NASDAQ
The SPX
MFC green line is pointed up slightly at 10 and is short-term
counter-trend bounce.
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
96 of 100 NDX stocks
closed higher on Friday.
3 NDX stocks are above their 30 DMA: REGN, GILD, TTWO,
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 2
GILD, TTWO,
Moving Below 30 DMA = 0
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