The New York stock market averages are now under their 50 day moving averages as well as the Nasd averages are just slightly above this support level. The Semi stocks have continued to weaken and the SOX moved further below its 50dma. The market looks tired and the rally that began last November is under the most stress it has been in. An increased level of caution is warranted at least for now.
However with that said…we are always waiting and watching with our “Trend Following Watch List”
BABA is holding up…
Has a congestion …looking for a breakout..
MTSI A semi is still holding up…stronger than the rest