The Curse of 50- Day Wall - SPY, DIA, QQQ, & IYT
The Record high theme is now out of the headline, U.S. benchmarks have succumbed to the 50-day moving average resistance. It is important to keep in mind that a trend change is not an instant event, instead, it is a process. Without these Major ETFs or Benchmarks clearing the overhead 50-day moving average, we are in early phase of distribution.
Amazon reached a milestone this week, dethroning Alphabet as number 2 of the most valuable company on earth.
- Apple (AAPL) Amazon (AMZN) Netflix (NFLX) Alphabet (GOOGL)
- SPY, QQQ, DIA, XLF, XRT, XLE, IYT, IWM, IBB, SMH
Twitter: @ Kris_tin27