Feb 4 2018 - Market Pullback Underway

The major index ETFs (SPY, DIA & QQQ) sold off hard on Friday and finished at the lows of the day. They are now firmly below their 20-day EMAs. The next most immediate downside target would be their 50-day SMAs. IWM (Small Caps) & MDY (Midcaps), who were already below their own 20-day EMAs have now closed beneath their 50-day SMAs.

$VIX finished higher at 17.31 but given the massive sell off in equities, the 'fear index' did not rise in true 'panic fashion'. TLT (Bonds) broke out of their 7-month trading range to the downside.

We also discuss IYT, XLE, XHB, XLF, AAPL, AMZN, GOOGL, NFLX, NVDA, ADBE and more.

Have a great week!

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