The SPY (S&P 500 / C-fund) fell below the 20-day EMA for the first time in about 6-weeks. That's certainly not alarming at this point, and it's how indices breathe in and out, but we also saw one of the rising support lines break so when technical roadblocks are taken out they start to add up to something more significant. The next lines of concern are likely the 241 area and then the 50-day EMA. Two cracks = yellow flag. If it becomes 3 or 4, then we may turn those flags to red. One problem with the downside is that it tends to unfold faster then the upside, so sometimes you have to play defense before you see red, or you could be stuck.
The DWCPF (S-fund) lost about 1% but again this chart doesn't show any major breakdown yet. If it moves below 1215 - 1210, then that will be a different story.
The Nasdaq 100 was hit hard on Tuesday and that 1.8% loss could be considered a bear flag breakdown, but the 50-day EMA is key right now, which is where it came to rest at the close yesterday.
The Dow Transportation Index was down 0.62%, so it modesty outperformed despite oil rallying on the day. You can see the support levels that matter here as well... 9350, 9300, and ~9237 (50-day EMA).
The EFA (EAFE Index / I-fund) held up well because the dollar tanked, but also because of some bullish talk from the ECB president Mario Draghi, who was optimistic about a pick up in inflation in Europe. That's why yields were rising in Europe and the U.S.
The dollar hit new 2017 lows yesterday, helping the I-fund but sending bond prices lower.
The AGG (Bonds / F-fund) broke down from its rising wedge and the rising trading channel. There is more strong support rising and currently near 109.50, should this pullback continue.
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