The Seasonal, Summer Selloff Is Right On Time. In Fact, It Has Followed The Schedule Perfectly Up To This Point. Now What?
Portfolio Pulse from Andrew Moss
The article discusses the seasonal summer selloff in the stock market, which is right on schedule. It mentions that there is no evidence yet to support that the bottom of this dip is in. The SPY (NYSE:SPY) has rallied back up to the declining 5-day moving average and then sold. The QQQ (NASDAQ:QQQ) is testing its 50-day MA after finding a recent high a little sooner and has come down a little further than SPY. The IWM (NYSE:IWM) is testing the support/resistance zone and the VWAP anchored to the all-time high. The DIA (NYSE:DIA) has been a benefit of buying rotation to industrials lately, which has helped it stay above the 21-day MA until today. The TLT (NASDAQ:TLT) Bonds and interest rate yields continue to be a market focus.
August 10, 2023 | 12:36 pm
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NEGATIVE IMPACT
The DIA has been a benefit of buying rotation to industrials lately, which has helped it stay above the 21-day MA until today.
The DIA has been a benefit of buying rotation to industrials lately, which has helped it stay above the 21-day MA until today, indicating a potential downward trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The IWM is testing the support/resistance zone and the VWAP anchored to the all-time high.
The IWM is testing the support/resistance zone and the VWAP anchored to the all-time high, indicating a potential downward trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The QQQ is testing its 50-day MA after finding a recent high a little sooner and has come down a little further than SPY.
The QQQ is testing its 50-day MA and has come down a little further than SPY, indicating a potential downward trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The SPY has rallied back up to the declining 5-day moving average and then sold.
The SPY has rallied back up to the declining 5-day moving average and then sold, indicating a potential downward trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
The TLT Bonds and interest rate yields continue to be a market focus.
The TLT Bonds and interest rate yields continue to be a market focus, indicating a potential neutral trend.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80