FRIDAY’S REBOUND PREVENTS FURTHER STOCK DAMAGE — BUT WEEKLY AND MONTHLY CHARTS ARE SENDING MORE SERIOUS WARNING SIGNS


This post is by John Murphy from StockCharts.com - Blogs


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S&P 500 HOLDS 200-DAY AVERAGE … A stock rebound on Friday prevented a more serious market breakdown. That’s because it allowed the S&P 500, and some other market gauges, to hold at or above their 200-day moving averages. That included the Dow and the Nasdaq, as well as consumer discretionary and technology ETFs that have had a bad month. But there was more serious chart damage…

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