The European Central Bank raised interest rates and prompted downmarkets overseas. The indices here followed suit. It was a pretty big downday, but everything seemed to find support. The S&P closed right on the 20day with lower volume. The Nasdaq also had lower volume. Only the dow increased volume, which follows this rotation out of it that we seem to be seeing.
Most of my stocks were in the red, but after reviewing them, I don't see anything breaking down. All except PTNR are still above the 20day, most above the 8day. AAPL went up slightly and on higher volume, which might be a concern if that trend continues. MVIS recovered nicely to end the day up 1c. I bought more of it at open with a limit order for yesterday's close, but I should have low-balled a little bit more.
USO I am still holding and it was one of my only gainers today. It managed to close on the 50dma today, and I'm afraid it might hit off it and retrace lower. Still, since it is a commodity, I have to wonder if there's other things that affect it, like storms in the Persian Gulf and potential hurricanes. If it starts another down day tomorrow, I will probably sell it.
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1 comment:
Don't mind... just checking the place out. ;)
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