Monday Opens Lower after Oil Falls Sunday Evening...IBM Down After-hours...

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The SPX -51.40, -1.79% gapped lower Monday morning after oil prices collapsed Sunday evening.  After the open the SPX rallied from its low before selling off in the afternoon to the low of the day.  

After the close IBM -3.71, -3.08% beat EPS and fell just short of revenue estimates but pulled its 2020 guidance due to Covid-19.

SPY down 5.05 at 281.59 on 100.1 million shares, below average volume, down on lower volume.

VIX up 5.68 at 43.83

IBM, CSCO, JNJ led the DJIA, 2 advancers, -24

FLIR, SWN, CARR, DD led the SPX, 77 advancers

BMRN, SGEN, NFLX, ALXN led the NDX, 29 advancers

The two-year trend term is up.

A new uptrend has emerged following a higher low W pattern reversal. 3-day short term trend is up.

Up:

Down: IWM, QQQ, SPY, DIA

Breadth weakened on Monday as decliners led 2,297 to 670 on the NYSE and led 2,049 to 1,234 on the NASDAQ

The SPX MFC green line is pointed up at 69.8 and is a short-term bullish. 

Uptrend sectors:  XLV, XLP, XLK, XLY, XLB, XLC,

Neutral sectors:  XLU, XLRE, XLI, XLF, XLE,

Down trend sectors:

The 6-month intermediate trend is down.  The ten-day trend is up.

3-month Intermediate Term Market Trend: Down

3-day Short Term Market Trend: Up

29 of 100 NDX stocks closed higher on Monday.

91 NDX stocks are above their 30 DMA:  CTXS, SGEN, AMZN, CDNS, NFLX, REGN, TTWO, VRTX, ALXN, NTES, INCY, AMGN, ATVI, CHKP, CSCO, EA, ILMN, INTC, KHC, VRSN, XLNX, AMD, ANSS, AVGO, CHTR, COST, CSX, IDXX, ISRG, JD, KLAC, LULU, MDLZ, MSFT, MU, MXIM, NVDA, ORLY, PCAR, PEP, SNPS, SWKS, TMUS, TXN, ADI, FB, LRCX, QCOM, SBUX, WLTW, AAPL, ADP, ADSK, AMAT, BIIB, CDW, CERN, CMCSA, CSGP, CTSH, EBAY, FAST, FOXA, GOOGL, INTU, LBTYA, MCHP, MELI, MNST, PYPL, ROST, SPLK, ULTA, WDAY, XEL, ADBE, ALGN, BKNG, EXC, TSLA, BMRN, GILD, BIDU, DLTR, SIRI, VRSK, FISV, NTAP, NXPI, EXPE, PAYX,

NDX Stocks to Watch on Tuesday:

Moving Above 30 DMA = 0

Moving Below 30 DMA = 4

CPRT, CTAS, MAR, WDC,

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