That was quite a tradeable dive to the twenty-day moving average on the SPY ($107.10), and S1 levels for the QQQQ and IWM, respectively. Tells included the Financial's under-performance, the cooling of the AD line and Tick, and finally the fast break higher in the VIX as price slammed the daily pivot. At the mid-day we have found temporary support at those levels and are attempting to stabilize. By the same token, the SPY is struggling to break back S1, so we'll see. This leaves us a bit oversold even as the intermediate MACD and 52 Week Highs - Lows look to have rolled over.
Jeff Pietsch is a registered investment adviser in the State of Washington. The adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.
This blog is for educational purposes only, and nothing herein should be construed as an offer to buy or sell, or as a solicitation of an offer to buy or sell securities, or to provide individual investment advice. Investing is risky and past performance, whether actual or tested, is no guarantee of future results. The author neither endorses nor warrants the content of this site, any embedded advertisement, or any linked resource. The author or his managed funds may hold either long or short positions in the referenced securities. Republication rights must be expressly granted by author in writing. Astrices (*) indicate a compensated hyperlink or product reference. Author is the sole owner of the "ETF Rewind," shares in the proceeds of "DV_indicators", and may exchange services in-kind with participant contributors.