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The DJIA rallied +6.38% on Thursday. The SPX +154.51, 6.24%, completed a three-day rally. Effects of the coronavirus pandemic hit weekly jobless claims of 3.283 million vs. estimate of 1.0 million. Markets still rallied.
All eleven sectors were higher on Thursday, led by XLU, XLRE and XLV
SPY up 14.41 at 261.20 on 255.9
million shares, above average volume. Up
on lower volume.
VIX down 2.95 at 61.00
BA, CVX, WBA led the DJIA, 29 advancers, +11
COTY, GCI, SYY, CFG led the SPX, 467 advancers
NTAP, ADP, AVGO, LRCX led the NDX, 93 advancers
Two-year trend
term closed above 2018 support. 3-day short term trend
is up.
Up: IWM, DIA,
SPY, QQQ,
Down:
Breadth strengthened
on Thursday as advancers led 2,650 to 368 on the NYSE and
led 2,775 to 549 on the NASDAQ
The SPX
MFC green line moved up to 16.8 and is a down-trend
counter-trend bounce.
Uptrend sectors:
Neutral sectors:
Down trend sectors: XLK,
XLV, XLU, XLRE, XLC, XLP, XLY, XLI, XLB, XLF, XLE,
The 6-month intermediate
trend is down. The ten-day trend is up a little.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Up
93 of 100 NDX stocks
closed higher on Thursday.
16 NDX stock is above their 30 DMA: CTXS, JD, AMD, AMZN,
ASML, CDNS, CSCO, GILD, ILMN, KLAC, NFLX, NVDA, REGN, SGEN, TTWO, XLNX,
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 14
AMD,
AMZN, ASML, CDNS, CSCO, GILD, ILMN, KLAC, NFLX, NVDA, REGN, SGEN, TTWO, XLNX,
Moving Below 30 DMA = 0
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