Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
The S&P 500 and NASDAQ are both experiencing oversold conditions, with a significant percentage of stocks trading below their moving averages. Less than 30% of S&P 500 stocks and only 15.64% of NASDAQ stocks are above their moving averages, indicating a lack of market breadth. The market is showing signs of weakness and potential for a bounce back soon.
The S&P 500 is close to oversold levels https://t.co/GxE1nwwOCo
This one may be interesting. Only 23% of NDX stocks closed above their 50D MAs yesterday, lowest since last Oct. Bearish? Depends. Sometimes sometimes not. Technical tendency only. Add condition. % NDX stocks above 200D MA was still a high 62%. Backtest later when have time.
We've seen a sharp reversal in the % of stocks that are overbought vs. oversold. 46.2% of the index is now oversold compared to just 6% that are overbought... https://t.co/81dQuNKtPe