Stock Market Selloff- Again $SPY $QQQ
The QQQ led the way lower with a decline of .70% while the SPY was off by .65%. Volume was higher and both ended near their perspective lows. Leading stocks are getting hit. When the leaders fall, how can the rest of the market surge upwards? Probably not…
The Russell ( the rest of the market) is now well below it’s 200dma. 200 day moving averages are lines of demarcation. When we are above this 200 dma the market is considered healthy. Below the 200 Dma…potentially look out!!!!
Past performance is not indicative of future performance