Dow Industrial Back to Oversold Breadth - SPY, SPX, DIA & IYT
The stock market took a hit yesterday courtesy of Facebook on Data breach woes that resulted in scrutiny of U.S. & Europe regulatory, the major benchmarks slumped more than 1%, intraday lows median was at -1.80%.
As of now, traders are adapting to +/- full 1% intraday move, since the February correction, the 1% intraday move is now back in normalcy. The catalyst for the market is the FOMC rate announcement tomorrow, & the developing G20 meeting discussions.
Per Technical basis, the S&P 500, DIA, & IYT are trading below 50 ma, while the QQQ or tech sector still above it by .78%. The Dow Industrial is nearing Oversold reading & the S&P 500 is on its 6th declining day. Overall market signals are Neutral to bearish as it gradually losing 50-day moving average.
- Apple (AAPL) Amazon (AMZN) Netflix (NFLX) Alphabet (GOOGL)
- SPY, QQQ, DIA, XLF, XRT, XLE, IYT, IWM, IBB, SMH
Twitter: @ Kris_tin27