Markets – Macro – Technicals

$NDX

$NDX made another new all time record high today. Another V bottom off of the Monday morning lows. The winners into quarter end: The monopolies of power. GOOGL, AAPL, FB, AMZN, etc. The big cap tech stocks. Same story as all year so far. Yesterday I mentioned $MSFT.

Yet with each new high the story seems to get weaker as fewer stocks are above their 50MA. This is is the same trend I’ve been noting in a few sectors across the board this year. I consider it a negative divergence.

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