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Originally Posted by coolhand

Last week, the S&P 500 and the DWCPF were thrown for a weekly loss.




So far, support at the 50 dma is holding on the S&P 500, but closed under that level on the DWCPF on Friday. Volume has fallen off since the initial 2 days of the sell-off, which we might see as at least somewhat supportive for the bulls. Momentum is falling and the indexes are not oversold (not that they need to be for a potential

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Stocks fell for the second week in a row and the previous week's spike in volatility resumed into this week. Stock investors have been excited. The herd's climb higher was disrupted last week and fear has driven volatility in the markets. Again it is the big tech names dragging down the indices. The Nasdaq fell into the technical correction territory of 10% off the recent highs. During the recovery climb off the March lows investors have been scratching their head as to why the market is going straight ...

Volatility was the word on Thursday as stocks opened higher and made their highs of the day in early trading, then sank as the day went on and closed near the lows of the day. Dow was up more than 250-points at the highs, and down nearly 500 at the lows - closing with a loss of 406-points. The Nasdaq is down 9.6% from its all time highs, which was made earlier this month. Is that enough? The rest of the market seems to follow, so whether that 10% is enough or not may be the key.

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Originally Posted by coolhand

The bulls tried to add to Wednesday's gains, but were eventually beaten back by selling, which took the indexes into negative territory in afternoon trade. Confirmation of the negative action came today in the form of a bearish NAAIM reading.




The 50 dma is the current battle area and is providing support to this point, but I suspect it will not hold.

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