Temperature Check on the Indices
$SPY $QQQ $DIA $IWM
When all of the setups are beginning to look promising you know it’s at lease pause time. I wrote yesterday about broad market indices crossing below their 50 day moving average.
SPY 0.00%↑ is joining the party today. I have no idea where this is headed, but looking left at last July’s move, a comparable 10%ish move would bring SPY 0.00%↑ to its rising 200 day moving average. Seems like a logical start.
Same story for the QQQ 0.00%↑
IWM 0.00%↑ is a bit of different story, as it’s been on a choppier path.
Things don’t have to (and likely won’t) play out this way. But risk can be managed around these possibilities.