MichaelGLamothe

SPY vs QQQ ... likely more selling ahead

NASDAQ:QQQ   INVESCO QQQ TRUST UNIT SER 1
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The major indexes often move in tandem with one another. Today the SPY along with several other indexes broke below the 50dma on heavy volume . The NASDAQ ( QQQ displayed here) has been the strongest of the indexes for the bulk of this uptrend. Today it sliced below its 21ema for the first time in about a month. It looks poised to test the 50dma within the next day or two. That will likely send the other indexes lower along with it.
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