marchmeena29
A potential shift in market sentiment and a weakening trend in the broader Nasdaq-100 (NDX) is starting to surface, as more than 50% of the index’s stocks currently trade below their 200-day moving average.
In total, 48 names within the Nasdaq-100 trade above the technical level while the remaining 52 stocks trade below the marker.
Additionally, of the 48 names that are above the 200-day moving average, only 18 are higher by 10% or more, which places the remaining 30 names above their 200-day moving averages but not by much.
For reference, many traders and investors use the 200-day moving average as a barometer in determining the overall strength or weakness when looking at longer-term market trends. Traditionally, when an instrument trades above its 200-day moving average, it is considered more bullish, while below the average it is considered more bearish.
Over the past month, the Nasdaq-100 (NDX) index has been…
