S&P 500 2,079.65 -22.50 -1.07%
DOW 30 17,568.53 -163.39 -0.92%
NASDAQ 5,088.63 -57.78 -1.12%
Russell 2000 1,225.99 -18.98 -1.52%
The Dow took out the 200DMA today
A key Pivot Low in the Dow is at 17354,if we take this out then the overall markets will shift back into a bearish mode.
AAPL Closing below 124 could be bearish for these markets.
The number of stocks below their 50 Day Moving Average is far too high
the S&P 500 we have only about 48% of stocks that are even above their 20 EMA while the index is near all time highs.The Nasdaq has a participation of about 50% of stocks over their 50 EMA. These should be over 65 to 70 % participation when we are near all time highs.
The price action is dragged higher by fewer and fewer stocks.
The fundamental nature of this market must change or, we will have a good solid move down.