A Critical Long-Term Trend Line Emerges As Stocks Near Oversold Conditions – The Market Breadth

The NASDAQ (COMPQ) rebounded from its 200DMA support and salvaged a 3.4% loss from a 6.3% loss.

Stock Market Commentary Be ready so that you don’t have to get ready. A perfect storm of fears converged upon the market at today’s open. Recession fears, deleveraging from the end of the carry trade, and perhaps even fresh geopolitical fears from the Middle East, spun the market even further off the road. Retail brokerage … Read more

Market Rotations Are Wearing Down Overbought Resistance – The Market Breadth

Market Rotations Are Wearing Down Overbought Resistance – The Market Breadth (Credit: Eduardo Tavares, https://www.flickr.com/photos/28761527@N06/3499009813)

Stock Market Commentary Bears still look ready to bow out, but they still have their paws firmly planted on high-tech stocks, especially semiconductors. The market rotations out of tech are nudging enough stocks higher, especially small caps, to rechallenge the threshold defining overbought conditions for market breadth. The stark divergence in stocks greatly reduces the … Read more