The General Market

After a gap up, all the major indexes finished weak.

The QQQ formed an inside day andwas down .58% and the NASDAQ had more net new lows. We remain below the 50 SMA.


The SPY undercut yesterday’s lows and was down .76%. The NYSE also had more net new lows.


The IWM was down .61% and is right at its 50 SMA.

The VIX remains above all its moving averages. It did not make new short-term highs.


The T2106 is still short-term “oversold.”

Trends (3/4 Down)

Short-term: Down (still below the 5 SMA)

Intermediate-term: Down (below a declining 21 EMA)

Mid-term: Mixed (below 50 SMA but the 50 SMA is increasing)

Long-term: Down (below a declining 200 SMA)


Below are some stocks I’m watching to the upside that have been holding up well. Overall Biotech and Solar remain the strongest themes.

AXSM holding the 5 SMA.

TH continuing to build sideways.

CSIQ among other solar names holding up well.

ARRY continues to hold the 21 EMA.

ENPH holding the range. A break below Monday’s low would not be a good look. FSLR also strong!

SHLS – want this to tighten.

TMDX holding up well.

RYTM – tight action, could break either way.

KRTX acting well.

Overall Thoughts

Another negative day as the indexes were rejected at their 50 SMAs. 4 days straight of weakness. Solar and Biotech continue to move sideways as the market pulls back.

The longer-term trends remain downward. Keep watching the leading stocks and the indexes. Be ready for anything!


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