Oct 7 2018 - QQQ's Breach 50-day SMA
The markets finished solidly lower on Friday. The DIA is holding up the best and is still above its 20-day EMA. The QQQ's closed below its 50-day SMA on strong volume, which is definitely a yellow flag for the bulls. The IWM and MDY are approaching their 200-days SMAs (already). $VIX did get as high as 17 on Friday before finishing back under 15. Earnings Season is fast approaching and with the markets starting to pullback, it can be a great time to consider reviewing protective put strategies.
We also discuss JD, XHB, AMZN, GOOGL, BHF, EWZ, TSLA, COST, PEP and more.
Have a fantastic week ahead!
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