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Weekly Tech Charts & Report - Feb. 21 - by TradesAfterWork

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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 an index that continues to be bullish. With that being said, the Composite did finish below its 12 Day Simple Moving Average last Friday. This reflects the price weakness of last week.
The S&P 500 Index likewise felt some pressure, but seemed to hold up better than the Composite. The index finished just 1 point above its 12 Day SMA. Very normal action for both the Composite and S&P 500.
The Dow Jones 30 finished up for the week, although barely. The daily chart of this index below shows how prices finished on the lows of the day. It did close above the 12 Day SMA. We must stick with the trend, which includes normal pullbacks too.

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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