Trader Mike

Note: I have an appointment in the morning so there won’t be watchlist for Monday.

Obviously last week was bad for the bulls. There was a lot of technical damage done on higher than average volume. The usual index charts are below along with a bunch of individual stock charts. Sorry that i couldn’t get to all of the requested charts…

Here’s the Nasdaq chart:

After a couple of dicey, back & forth days, the bulls are reasserting themselves. The tech-heavy Nasdaq continues to lead the way. It made its second highest close for the year today.

Things are a little less rosy for the S&P 500, although it did climb back above its 50-day moving average. I’m now off of lower-low watch and have my eyes on the downward sloping trendline which currently sits just above 1540.