Some Keys Area Violated $SPY $COMPQX $QQQ $IWM #trading #stocks #markets

In our Weekly Market Prep over the weekend we told our clients some caution was warranted as distribution days were mounting of late in the indices. As a result we tightened some stops which locked in some profits and resulted in some timely raising of cash. We felt yesterdays rally was uninspiring and today some key areas in some of the indices were violated. In particular the Nasdaq Composite closed below the 7500 level and its 50 day exponential moving average picking up another fresh distribution day. We will see if indices can remount support levels by the weeks end. The Russell 2000 was also hit hard and has now marked four distribution days in the last five sessions. For a complete review of all the indices on a regular basis, watchlist, real-time stock and option trading alerts and more, join veteran trader Greg Krupinski along with myself at http://www.ttptrading.com

COMP

-CJ

 

 

 

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