The indexes and a lot of stocks came right up against resistance on Monday and failed to break through. The daily chart of the SPY, below, shows how the S&P 500 index could not hold above its declining 30 day average (red line). Last week’s bounce off of extremely oversold levels appears to be over. I bought some QID Monday, hoping to make money as the QQQ declines. AAPL is one of the stocks that stopped at resistance on Monday, as did V, NEU and CMG. I am in cash and/or short.
where is the weekly video comment?
There is no weekly video comment but I hope to start one soon.