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Weekly Tech Charts & Report - Feb. 28 - by TradesAfterWork

Subscribers Special Report

Posting this to share with our readers: (We really like these Weekly Technical Briefs by TaW)

The daily chart of the Nasdaq Composite Index shows that the price of the index has gone below 3 of its major moving averages; the 12 Day Simple Moving Average, the 21 Day Exponential Moving Average, and the 50 Day SMA.
The S&P 500 Index is currently sitting on its 50 Day SMA. The last time this happened it bounced. This week we will get the opportunity to see if it does that again.
The Dow Jones 30, like the S&P 500 Index, is also sitting on its 50 Day SMA.Last Thursday and Friday this index was hit pretty hard. Let's watch and see if it bounces this week.

Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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