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	Comments on: Early-Session Stock Market Analysis 2-26-20	</title>
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	<description>Stock Trading, Investing &#38; Market Analysis</description>
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		<title>
		By: rsotc		</title>
		<link>https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9908</link>

		<dc:creator><![CDATA[rsotc]]></dc:creator>
		<pubDate>Wed, 26 Feb 2020 20:13:25 +0000</pubDate>
		<guid isPermaLink="false">https://rightsideofthechart.com/?p=196050#comment-9908</guid>

					<description><![CDATA[In reply to &lt;a href=&quot;https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9903&quot;&gt;wilhud&lt;/a&gt;.

G-luck on the trade. I have AAPL sitting on &lt;abbr class=&#039;c2c-text-hover&#039; title=&#039;An uptrend occurs when a security or index is making a series of higher highs &#038; higher lows.&#039;&gt;uptrend&lt;/abbr&gt; line support (off the June 3, 2019 low) so personally, I&#039;d wait until that level is taken out along with a solid break below today&#039;s/yesterday&#039;s lows in QQQ. Should AAPL bounce from here, which I am leaning towards, the first resistance comes in around 303.65 &amp; the 311.74.
 Should it break down, I&#039;d target the intersecting 255.74 &amp; 200-&lt;abbr class=&#039;c2c-text-hover&#039; title=&#039;An exponential moving average (EMA) is a type of moving average that is similar to a simple moving average, except that more weight is given to the latest data. This type of moving average reacts faster to recent price changes than a simple moving average. (source: investopedia.com)&#039;&gt;ema&lt;/abbr&gt; support about 12.5% below current levels Here&#039;s my daily chart.]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9903">wilhud</a>.</p>
<p>G-luck on the trade. I have AAPL sitting on <abbr class='c2c-text-hover' title='An uptrend occurs when a security or index is making a series of higher highs &amp; higher lows.'>uptrend</abbr> line support (off the June 3, 2019 low) so personally, I&#8217;d wait until that level is taken out along with a solid break below today&#8217;s/yesterday&#8217;s lows in QQQ. Should AAPL bounce from here, which I am leaning towards, the first resistance comes in around 303.65 &#038; the 311.74.<br />
 Should it break down, I&#8217;d target the intersecting 255.74 &#038; 200-<abbr class='c2c-text-hover' title='An exponential moving average (EMA) is a type of moving average that is similar to a simple moving average, except that more weight is given to the latest data. This type of moving average reacts faster to recent price changes than a simple moving average. (source: investopedia.com)'>ema</abbr> support about 12.5% below current levels Here&#8217;s my daily chart.</p>
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		<title>
		By: rsotc		</title>
		<link>https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9907</link>

		<dc:creator><![CDATA[rsotc]]></dc:creator>
		<pubDate>Wed, 26 Feb 2020 20:08:08 +0000</pubDate>
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					<description><![CDATA[In reply to &lt;a href=&quot;https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9902&quot;&gt;wilhud&lt;/a&gt;.

Agreed. I noticed the underperformance of the SPX yesterday &amp; today as well.. typically not a good sign for the overall market as it indicates the FAAMGs are bearing most of the weight right now. However, I often say that one day (or a few days) does not make a trend so best to monitor to see if that underperformance continues going forward.
 As of now (3:05pm), all 5 FAAMGs (FB, AMZN, AAPL, MSFT &amp; GOOG) trading green along with QQQ yet SPY is -0.36%. Energy, industrials, financials &amp; discretionary seem to be weighting the broad market down... not the best sectors to be underperforming.]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9902">wilhud</a>.</p>
<p>Agreed. I noticed the underperformance of the SPX yesterday &#038; today as well.. typically not a good sign for the overall market as it indicates the FAAMGs are bearing most of the weight right now. However, I often say that one day (or a few days) does not make a trend so best to monitor to see if that underperformance continues going forward.<br />
 As of now (3:05pm), all 5 FAAMGs (FB, AMZN, AAPL, MSFT &#038; GOOG) trading green along with QQQ yet SPY is -0.36%. Energy, industrials, financials &#038; discretionary seem to be weighting the broad market down&#8230; not the best sectors to be underperforming.</p>
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		<title>
		By: wilhud		</title>
		<link>https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9903</link>

		<dc:creator><![CDATA[wilhud]]></dc:creator>
		<pubDate>Wed, 26 Feb 2020 17:08:23 +0000</pubDate>
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					<description><![CDATA[In reply to &lt;a href=&quot;https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9902&quot;&gt;wilhud&lt;/a&gt;.

Just put a little short trade on Apple, with my broker indicating 89% long interest now. Fully expecting a liquidity crisis at some stage if this level of complacency continues.]]></description>
			<content:encoded><![CDATA[<p>In reply to <a href="https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9902">wilhud</a>.</p>
<p>Just put a little short trade on Apple, with my broker indicating 89% long interest now. Fully expecting a liquidity crisis at some stage if this level of complacency continues.</p>
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		<title>
		By: wilhud		</title>
		<link>https://rightsideofthechart.com/early-session-stock-market-analysis-2-26-20/#comment-9902</link>

		<dc:creator><![CDATA[wilhud]]></dc:creator>
		<pubDate>Wed, 26 Feb 2020 17:01:56 +0000</pubDate>
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					<description><![CDATA[Just noting that S&#038;P fell by more than Nasdaq yesterday. Today S&#038;P rallied by less. Diverging further much as The Dow Jones has been of late. Indicating that it is just the tech behemoths holding it up now? If so that was a very weak bounce which is somewhat worrying for the next draw down.]]></description>
			<content:encoded><![CDATA[<p>Just noting that S&amp;P fell by more than Nasdaq yesterday. Today S&amp;P rallied by less. Diverging further much as The Dow Jones has been of late. Indicating that it is just the tech behemoths holding it up now? If so that was a very weak bounce which is somewhat worrying for the next draw down.</p>
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