Fun times continues for SPY and mega cap stocks in DOW but technology index QQQ remains the ugly duckling.
Weak bounce for technology names after Wednesday’s mega sell off as money continues to rotate into biotech,financials retailers, oil, names. QQQ managed to hold 20 MA. Line in the sand for now. A break below could see some more selling, Bulls need to hold 20 MA and build here. SPY , DOW, IWM indices are getting extended, if they pull down and no rotation into QQQ, we might see some weak action across the board. Juts something to keep in mind but then again it has been a stock picker’s market, there are always something in play.
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