Wednesday, May 27, 2020

Knife fight at the 200 dma

Mid-week market update: For the last two days, the SPX tested the 3000 level and its 200 day moving average levels and finally broke up today. However, market breadth presents a mixed picture. Fresh 52-week highs have been understandably strong for NASDAQ stocks, as they have been the recent leadership. However, new highs for both large and small caps are less than impressive, which calls into question the sustainability of this rally.


Who wins the knife fight at the 3000 and 200 dma? Here are bull and bear cases.

The full post can be found here.

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