Tech under pressure as each price bounce is sold.
Pascal
Tech under pressure as each price bounce is sold.
Pascal
Market still rather weak today.
Lower prices do not seem to be attracting money, but things could change in the final hour.
Pascal
Yesterday, the 20DMF turned to cash from a long position because it crossed below the -0.11% level while the Cumulative Tick was above its average.
We can below that this morning, the 20DMF turned back toward the Buy level
However, after the Trump Tweet on the Chinese trade issues, the market turned sought again, but this time, the Cumulative Ticks moved below its average line, triggering a short signal.
This does not look good going forward: we are in the middle of the earnings season and the Fed is done lowering rates until probably end of the Year. The question now is what will support elevated equities prices?
This baby does not behave well today.
We'd need a heavy hand to buy this afternoon so that the S&P500 does not close negative for January.
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