An early-afternoon rally offset some of the decline in the current stock market, yet key indexes still shouldered weighty losses amid news on the spread of coronavirus. While the Dow Jones Industrial Average fell 1.1% at around 1:30 p.m. ET, it was down as much as 1.9% at session lows.
Notice on a daily chart how the Dow Jones industrials (ticker is 0DJIA on Investors.com), despite gapping lower at the start, did not penetrate its rising 50-day moving average for now.
The Russell 2000, somehow, showed more mettle with a 0.8% loss. Innovator IBD 50 (FFTY) ETF slumped 1.5% after briefly slicing through its 50-day line. In a healthy stock market, both leading stocks and equity indexes trade above their 50-day moving averages and lead them higher.
The stocks ranking in the top 10 within the IBD 50 stock list carry an above-average weigh