The major US stock markets continued to pullback sharply today, with strong follow through on the downside in laggard groups, such as Semiconductors that I mentioned previously. Most of the indexes remain in the upper half of the recent trading range though, and are testing both their short and long term MAs, with closes below the 21 day EMA in the Nasdaq and Russell 2000. But the S&P 500 just managed to hold its short term MA, so continues to show the best relative strength of the major indexes.
I talk more about this and what I'm looking for as well as the watchlist stocks and themes in play in Stage Analysis Members Midweek Video - 6 April 2022 (1hr).
US Stocks Watchlist – 6 April 2022
There were 36 stocks for the US stocks watchlist today.
LLY, AA, RES, WPM, + 32 more...
Market Breadth: Nasdaq and NYSE Bullish Percent Index – Short Term Chart
The Bullish Percent Charts gapped lower on the open today, and are now strongly below a declining 30 bar MA once more. So it is on a negative status currently in the short term.
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.