Shake it Up! - SPY, DIA, QQQ & IYT
The stock market took another beating yesterday, shedding 3rd of its gain on Monday. What's interesting is that Monday bounce is appealing more like a bear rally rather of a solid bounce. There are still numerous perspective on the bull or bear technical levels.
Non-bias assessment- the S&P 500 still above 200 moving average & as of yesterday close -8.77% from the record high, a 1.5% tad shy of the 10% benchmark for correction despite 10% that is seen as healthy pullback considering the November to 2016 -January 2018 non-stop record high print.
The bad news is, the market is heavily reliant on the technology stocks, which is currently facing difficulty as Facebook hurdled into privacy breach dragging Alphabet & the rest of Nasdaq components. Keep calm & remind yourself that everything is a process and that there is no straight in line in between, the law of mean reversion always reset.
- Apple (AAPL) Amazon (AMZN) Netflix (NFLX) Alphabet (GOOGL)
- SPY, QQQ, DIA, XLF, XRT, XLE, IYT, IWM, IBB, SMH
Twitter: @ Kris_tin27