All indices below 50 DMA.......

All indices are below 50 DMA, Nasdaq is slightly below, while Dow & S&P 500 is well below 50 DMA.

Chaikin Money flow is also negative in S&P 500 & Dow, Nasdaq is barely positive by 2 tick.

RSI is anywhere from 42.47 in S&P 500 to Dow @ 45.63, while Nasdaq is in between @ 43.93

All of this is pointing out a very weak equity environment.

Reasons given are many, from strength of US$ to Fed raising rates.

I have a feeling that this time, US election is also playing a role .

IF US election, is impacting, then we have until October 8th, to wait.

Earnings are in full swing, starting this week, important one from my point of view is AMD on Thursday.

Earnings may give boost to those stocks, which are beating estimates or guiding better than expected.

Last week was very troubling for indices and individual portfolios, last week Nasdaq showed weakness and has closed below 50 DMA.

It is important to have a second look @ your own portfolios, and see its relevance in current uncertain equities environment.

This weakness in equities and indices have come as total surprise to me.

Q4 is suppose to be strong in seasonality.

All i can say, that until October 8th, there may be a pause, before we resume a strong uptrend.

Good luck with your own strategy and your comfort level with current lethargy in stock market.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed