today is : Thur September 6th 2018 around 9:30 am Hyderabad, India. Time in New York City : 00:08 am on Thursday September 6th 2018
well them days!
a good pull back put some breaks and exits some people.. yesterday a good bounce off 22 SMA for QLD and NDX is a good sign
never the less the high volume sell off of last 25 -30 trading days has gone up to 5 for the entire market. the +1.2 % sell off in NDX had first occurred on August 15th and then just yesterday.
Now its the 5th continuous decline in S&P last 5 trading days but there is a silver lining. the accumulation distribution line A-D line has flattened with 1533 stocks down in 1.50 Billion volume and 1258 stocks up in 1.6 billion volume (yesterday was 990 stocks up in less than billion volume)
QLD has a clear slicing of 9 EMA on daily chart on higher volume – 517 K volume.
Now look at FFTY below – the leading growth stocks ETF. What a bounce above 22 day SMA and it closed just below the 9 EMA!
decision : stay in QLD.
for NQ As soon as euro market is opening it is falling
currently : 7525 is a good support and 7550 and 7600 and 7625 is nice resistance
AMZN, MSFT, GOOG, APPL is 25 +% of NASDAQ! only APPL held good yesterday
Happy trading !