Friday Sept 28th around 10:00 am IST 00:30 am just past midnight New York time
today would be the last trading day of the month and also the last trading day off the quarter
Yesterday prices faded as the day ended. In the above chart $S5FI – The percentage of stocks in S&P 500 that are above their 50 days SMA…they have fallen the entire week!
18 points fall from August 29th from 73 to 55.
last time from June 12th to June 28th s&p 500 fell 83 points and $S5FI fell 21 points .
So that is a red flag
but the A/D line for NYSE actually went up
So i am little confused. Why did the market fade away so badly yesterday ? What are stocks falling below their 50 day SMA?
Now price is the true north star so
my decision : I will continue to be long on QLD and I am also long on NQ