Markets finished off their worst levels of the session coming back early declines to end down .3% on both the Nasdaq and S&P 500. The Nasdaq recovered more than 20 handles off its lows for the day. Their still seems to be overwhelming chatter of an imminent correction, which I am part of the chorus, but the market rarely makes it that simple. Perhaps another flush higher to let investors think the ride up is never ending, then comes the sell off. Of course we are still in the middle of earnings season, but it pays to watch how some leading names react post announcement technically. We like to see how the moving averages, the 50 day SMA specifically (not many leaders are near their 200 days), and see if they can successfully bounce off them. Today saw three of those exact examples with DGI AME OAS (we are long OAS). So know when your stocks are reporting or names that you have been looking to enter in are releasing.
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