Story
Technology Retreats as Investors Seek Defensive Shelter
The technical condition of the market deteriorated in October as the selloff in large-cap technology stocks weighed on the broader market. The technical indicators weakened, with MACD, a short-term trend gauge, in bearish ground and momentum, as measured by the 14-day RSI, in negative territory for both the S&P 500 and NASDAQ. As October was coming to a close, the major averages lost support at key moving average (MA) levels after successfully bouncing off those levels over the past several weeks...
Click HERE to get the full story in our monthly On The Edge.