Slow day for the indices after SPY 50 MA was defended again Wednesday. However, indices masking some serious damages in many individual stocks. Broken tech/software names catching slow dead cat bounce but still look vulnerable. Biotech, IPO names getting pounded. Bulls need to step in get SPY back over 8 EMA. A break below 50 …
If you’ve ever seen a cat fall from a tree, you know it doesn’t crash to the ground and stick the landing. Instead, it bounces before coming back down. Stocks often act like cats falling from trees, especially momentum stocks that have reached obscene heights. That’s because many traders have short memories and buy dips …
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