Today’s Technical Trade List

The S&P 500 is making a break back below its 50-day moving average today which shifts the market back into a short- to intermediate-term bearish outlook. This in and of itself is a sign that the market is likely to start another round of selling (note the indicated previous breaks).

Obviously, the move has more to do with the uncertainty created by the continued crosswind of headlines from the trade talks (pending). This climate caused lighter volume trading on Monday which is now being followed by some cautious selling.

An effective scan for short-term profit opportunities on bearish moves is the stocks within the $SPX that are also breaking below their respective 50-day moving averages. To give the list more power I’ve set the model to only identify those stocks with 50-day trendlines that are in a bearish decline.

I’ll share one of my favorites from this list later this evening. Happy Hunting!

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