The Nasdaq peaked around noon today and was up 1% and now as I type this has only given half of that back. I would continue to proceed with caution. In this webinar I discuss the slowing momentum in the Nasdaq and how it has changed personalities by not being able to break to an all time high after the most recent pullback.
Breadth is still strong in the S&P 500 but has begun to weaken slightly over the last week and a half. With the international stocks getting slaughtered one has to wonder how long the US stocks can be at an all time high while the rest of the world is in a bear market. Something has gotta give.
In this webinar I cover the following…
1. S&P 500 and Nasdaq broke their 20 DMA (whipsaw could be ahead)
2. We look at breadth charts for all major indices
3. Commodities have entered bear market (death cross)
4. Consumer staples and Utilities lead sectors this week
5. Weed stocks could have just gotten a catalyst to turn
6. We look at 25 industry ETFs (there are a couple that are turning up after bear market)
Please do not go out and blindly buy this stuff. As always do your own homework and make your own decisions
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