The Bear’s got a heavy claw in the action with S&P 500 price action back under 1,900.
Sell Bias holds – as it has for months.
We’re trend down, below the major moving averages, with hardly any leadership to look to.
A collapse in the FANG group (Facebook, Amazon, Netflix and Google), say large market players may be taking risk off.
We’re seeing strength in safer vehicles, such as Treasuries, Utilities and Consumer Staples.
Multiple accumulation days off the lows have registered legit follow through for a potential bottom to have been placed. Though without leadership, it’s likely to have been from a rebound in Energy names as well as the above mentioned safety names.