Market Recap for Wednesday, December 18, 2024

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TraderMike about 1 month ago

so... much... red... today on this page!  
  • The heatmap looks like a bloodbath.  
  • IWM has given back all its post-election gains.  
  • % of Stocks Above Their 50-Day Moving Averages plunged to 32 -- quickly approaching oversold levels
  • SPY, IWM & DIA all broke their 50 DMAs
It's feeling like we're in need of a flush out, especially when I see crazy speculation like what's happening with the quantum computing stocks (doubly so with the fake quantum stocks!) 

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