Fact or Fear in the Stock Market Today
Yes it has been a very hard market for bears and bulls. There is also a great deal of fear in the stock market today.
1.All the major indexes are below their 10-week moving averages. This is important because this is an area of institutional support. Any stock below the 10 -week moving average is deemed weak.
Some stocks such as Facebook and Netflix are holding up and are actually strong.
Stocks in leading groups such as Software, Biotech and Healthcare got hit last week on big volume.
Everyone’s darling stock Apple is not performing well
There is tremendous fear in the market and every time in the past couple of years there has been fear, the stock market has bounced back.
Markets historically do not go down when the masses are bearish. Contrarily bear markets happen when everyone is bullish…
Anything can happen. Trade with a plan. Know how much to buy…know when to exit with a profit or a loss…Caution is warranted at this point…