Just letting you know a bunch of growth leaders have recently been hammered on volume. But many were so extended, all they have done is fall down to their respective 50 day/10 week moving averages. It is this are that will be vital to hold. We will know more on any bounce, how they bounce, if the bounce is anemic and if they roll over breaking the 50 day. It is too early to tell. A few are green today off this line of support but tepidly so. There are a few just below this area and will need to see if they get back above. It is December, a month which usually has a positive tone.
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- PRE MARKETSeptember 25, 2018 - 8:16 am
Futures are up after a good reversal for the NASDAQ/NDX off the 50 day moving average…AGAIN. This most important moving average has contained downside since late June. Many growth names held support/50 day yesterday. Some of the stronger names only pulled back to the 21 day. This keeps the market in good stead though we […]
- RADIO SHOW 9/24September 24, 2018 - 9:16 pm
- WEEKEND NOTESSeptember 24, 2018 - 8:38 am
Futures down…NASDAQ worse than DOW. Foreign markets pulling back after good week of gains. The thought process has not changed from anything we have been seeing. Two weeks ago, we wrote the report about “changing of the guard” in the market..and since, this is exactly what has happened. Relative strength in the market has been […]