Markets were mixed this week as they are attempting to stabilize (mainly near 200 day moving averages) but the evidence of strong buyers remains elusive.
The $SPY found sellers at the declining 20 day moving average today. This video takes a look at key levels in major ETFs and a few individual stocks.
The $QQQ closed below the 200 day moving average while the $SPY is still closing in on its 200 DMA. This video takes a look at the important levels.
We have been observing the action of $RTH as it fell from all time highs down through the 50, 100, 150 and 200 day moving average in four short weeks. Today the $QQQ was the first major index to touch the 200 day moving average and there is still no clarity that a short term […]
The market failed to find any support this week and now the IWM is down on the year and the $QQQ very close to going negative. The widely watched 200 day moving averages will be the focus of market participants next week.
The market continues to slice through levels which looked like support areas and reminds us of why we always use “potential” support or resistance when referring to areas where we anticipate buying or selling. This video takes a look at the trends in $SPY $QQQ $IWM $RTH $SMH
The $SPY undercut the 150 day moving average by a dime today and bounced a little bit, but it is unconvincing that there is a bigger bounce developing yet. Markets have been hit hard recently and it seems like it should bounce, but wait for evidence before putting much exposure out. This video […]
The trend is higher and your job is much easier if you focus on risk management.
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