StockMarketTV – Breadth Expands – Tech ETFs Correct – 3 Stock Setups
- Arthur Hill, CMT
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These are the charts from the StockMarketTV show on Tuesday, August 26th. Analysis starts with the long-term trends and support levels for SPY and QQQ. Upside participation expanded last week as the percentage of stocks above the 200-day surged. New highs are the next item to watch. Breadth improved as new leaders emerged and tech ETFs corrective. Watch XLK, SMH and MAGS for clues on the correction. There are also three stock setups.
Recent Reports and Videos at TrendInvestorPro
- Knee-Jerk Leaders/Laggards – Energy Hit – MAGS and SMH Go Separate Ways
- Bullish Setups for the Russell 2000 ETF, Industrials SPDR and Amazon
- Tech Breaks Down – Spreads Widen – Smalls and Mid Caps Pick Up Slack
- QQQ Derails with Outsized Decline – Defensive Groups Lead – Biotech Breakout
- Click here to take a trial and gain full access.
Trend and Support for SPY
Trend and Support for QQQ
Percent above 200-day Expands
Watch High-Low Percent Next
Watch August Lows for XLK, MAGS and SMH
Three Tech ETFs with Short-term Corrections
Three Stocks with Trade Setups
Recent Reports and Videos at TrendInvestorPro
- Knee-Jerk Leaders/Laggards – Energy Hit – MAGS and SMH Go Separate Ways
- Bullish Setups for the Russell 2000 ETF, Industrials SPDR and Amazon
- Tech Breaks Down – Spreads Widen – Smalls and Mid Caps Pick Up Slack
- QQQ Derails with Outsized Decline – Defensive Groups Lead – Biotech Breakout
- Click here to take a trial and gain full access.