Resilient

The markets have shown their resilence to bad news as the buyers stepped in and saved the market from further decline after another gap lower.  There is still reason for concern given the magnitude of this rally, but buyers are still in control.

A break of the uptrend lines in the IWM and QQQQ could get a lot of attention and bring on more aggressive selling, be careful.

The most relevant trend line in SPY is also close by which raises concern if it breaks.

The SPY and XLF are more neutral, keept levl an eye on horizontal suppors


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.


Comments are closed.

In partnership with CNN Money Part of the CNN Network