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09.29.20 10:10:37AM
Higher Double Bottom DMA - SPY, DIA, QQQ, & IYT
The first quarter of 2018 has been a turbulent ride for investors. The stock market debuted 2018 in a very strong note that has later been dissipated. Despite the rocky ride of ups & down, it remains on healthy technical trajectory considering the overbought reading trend in late 2016 and the entirety of 2017. The volatile move has spurred liquidity in the market.
The Major Index & Top ETFs have finally kissed the 200 DMA support after avoiding it in almost 18 months, except for Nasdaq Composite which actually closed green in Q1. If basing per quarterly performance, it is not as bad many perceived: See our UNIQUE weekly & quarterly performance data https://www.tradersfish.com/Stock/stock_performance
- SPY-1.39%; DIA -2.41%; QQQ +2.80%;
Per daily moving average, Top 4 ETF has formed a higher double bottom recovery, see chart below* The market remains in correction mode until it gets back above 50 DMA.
- Apple (AAPL) Amazon (AMZN) Netflix (NFLX) Alphabet (GOOGL)
- SPY, QQQ, DIA, XLF, XRT, XLE, IYT, IWM, IBB, SMH
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