© 2020
The SPX
fell below its Dec 2018 low, but closed just above. The DJI closed at 19,898, -1,338, -6.30%,
turned down, closing below it Dec 2018 low for the fourth straight day. VIX closed at 76.45.
All
eleven
sectors were lower on Wednesday, led by XLP, XLV and XLC
SPY down 12.80 at 240.00 on 327.5 million shares, above average
volume. Down on higher volume.
VIX up .54 at 76.45
WBA, CSCO, WMT led the DJIA, 6 advancers, -21
AKAM, HII, JWN led the SPX, 56 advancers
GILD, PAYX, CTXS, AMZN led the NDX, 10 advancers
Two-year trend
term is sideways at support. 3-day short term trend is down.
Up:
Down: QQQ, SPY,
DIA, IWM,
Breadth weakened,
on Wednesday as decliners led 2,852 to 184 on the NYSE
and led 3,043 to 349 on the NASDAQ
The SPX
MFC green line is pointed up slightly at 10 and is 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 down.
3-month Intermediate Term Market Trend: Down
3-day Short Term Market Trend: Down
10 of 100 NDX stocks
closed higher on Wednesday.
4 NDX stock is above their 30 DMA: REGN, CTXS, GILD, WBA,
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 1
WBA,
Moving Below 30 DMA = 1
TTWO,
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2 comments:
Dave,
Any chance of a short video on your take of the market?
Thank you in advance for your consideration.
Gary
Gary, the market is currently in a down trend and because it has dropped more than 20% is now being described as a bear market. Look for bearish trades to trade with the trend. Bullish trades on most charts are currently counter-trend trades. Dave
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