SPX Slips to New Low as Senate Struggles to Find Consensus on Stimulus Package...

© 2020

Take time to read these articles and view the videos for a more constructive perspective on coronavirus…

Fed’s Bullard: Not a recession, an investment in survival:  Click here

Nobel laureate predicts a quicker coronavirus recovery:  Click here
Understand how outbreaks spread:Click here

Wed Ingraham Interview of Rigano 4 min video: Click here:

Thursday Varney Interview of Rigano 2 min video:  Click here:

About the 2 drugs that could treat COVID-19:   Click here:

The SPX closed at 2237, -67, -2.93%, its lowest level in the current bear market and below last Wednesday’s support low.  The DJI closed at 18,591, -582, -3.04%, closing below its Dec 2018 low for the seventh straight day.  The NDX gained +12.63 and SMH closed at 104.81, +3.75, +3.71%.  VIX closed at 61.59.

Two of eleven sectors were higher on Monday, led by XLC, XLY and XLK

SPY down 5.85 at 222.95 on 326.0 million shares, above average volume.  Down on lower volume.

VIX down 4.45 at 61.59

BA, INTC, HD led the DJIA, 4 advancers, +1

RCL, COTY, FLIR, ADS led the SPX, 103 advancers

WDC, MCHP, EA, TTWO led the NDX, 45 advancers

Two-year trend term closed below 2018 support.  3-day short term trend is down.

Up:

Down: QQQ, IWM, SPY, DIA, 

Breadth weakened, on Monday as decliners led 2,359 to 677 on the NYSE and led 2,019 to 1,328 on the NASDAQ

The SPX MFC green line turned up fractionally at 8.4 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 down.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Down

15 of 100 NDX stocks closed higher on Monday.

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

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 1

REGN,

Moving Below 30 DMA = 0

Add Comments here: