MDM has switched to BUY. The S&P 500 bounced off its 50-day moving average (50dma) on higher volume while the NASDAQ Composite came within a hair of its 50dma before bouncing.
Biotechs, solars, and some technology and retail stocks did well which bodes well for market internals.
European Central Bank President Mario Draghi reiterated that the Governing Council stands ready to “use additional unconventional instruments” as stimulus measures, implying a full-scale quantitative-easing program could be underway. This of course bodes well for a continuation of the QE-driven bull market.
SPY (S&P 500) (Lower risk, lower reward)
QQQ (NASDAQ-100) (Higher risk, higher reward)
SSO (S&P 500)
UPRO (S&P 500)
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