StockCharts.com’s Your Daily 5: May 20, 2021
If Stocks Can’t Rally From Right Here, Look Out
John Kosar brings his five most important data series and charts for this week. Although the benchmark S&P 500 (SPX) is currently testing and thus far is holding Tactical support near 4085, market internals according to AsburyResearch’s The Asbury 6” are currently negative, typical market leaders like Technology, Semiconductors, and Small Cap have been underperforming for months, and investor assets are leaving the QQQ ETF. If support at SPX 4085 can’t hold, the US broad market may be in big trouble.
- 0:00 – Intro
- 0:41 – “The Asbury Six”
- 3:37 – S&P Tactical Support
- 5:37 – Apple Testing Major Support (AAPL)
- 7:52 – Investor Assets Still Leaving QQQ ETF