Aug 4 2019 - Bulls Put On Notice To Start Week...
The bulls were put on notice this past week with three straight days of strong selling pressure. The first line in the sand we said to watch for was the 20-day EMA and it was broken on Wednesday. On Friday, the DIA (Dow Jones ETF) was well below the 50-day SMA (institutional moving average) before closing back above it by day's end. The bulls have been put on notice. If the 50-day SMA fails to hold as support, the bears gain the technical edge on the daily charts.
We also review ATVI, AAPL, AMZN, GOOGL, NFLX, DE, DELL, FIZZ, VMW, XPO, SPY, QQQ, IWM, MDY, VIX and more.
Have a fantastic week ahead!
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