The S&P did ease back towards support and did spike below declining resistance but recovered by the close. The 20-day MA managed a 'golden cross' against the 200-day MA and its this convergence is helping to play as support. Technicals, aside from the MACD, are still bullish.
The Nasdaq is also trading above the 200-day MA but unlike the S&P it did not spike below support (in this case, the 200-day MA) and relative performance remains good. The 'buy' signal holds true.
Despite the weakness, the Semiconductor Index continued to hold channel support (good news for the Nasdaq and Nasdaq 100).
![]() |
Add caption |
You've now read my opinion, next read Douglas' blog.
---
Accepting KIVA gift certificates to help support the work on this blog. All certificates gifted are converted into loans for those who need the help more.
Follow Me on Twitter
Investments are held in a pension fund on a buy-and-hold strategy.