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Monday, March 19, 2018

Market Alert - Last Hour

The indices continue sporting losses in excess of 1% and 2% in some cases.

SP500 -44.76, -1.63%
NASDAQ -156.70, -2.09%
DJ30 -383.25, -1.53%
SP400 -1.08%
RUTX -1.37%
SOX -2.29%
NASDAQ 100 -2.5%

Holding the 50 day MA: NASDAQ, SP400

Holding the 20 day MA: SOX; RUTX

Below the 50 day MA: SP500, DJ30

The relative strength remains the same, but again, all are selling off harder.

Leadership is down of course though many are holding the 20 day MA, 50 day, or other support within their trends/patterns. FB is not , nor is GOOG, but the rest of FAANG is at some support (AMZN 20 day, NFLX 20 day, AAPL 50 day).

Chips are at support as well. AMAT at 20 day; MU hardly lower. LRCX 10 Day MA. NVDA 50 day. XLNX 10 day MA.

China: Hit as well but holding support. NTES over 50 day. ATHM 10 day. BABA 10 day. BIDU does not look good. BZUN ignoring the market.

If positions are holding support we will see if they can bounce early Tuesday. If that move stalls, then we can exit.

If positions are not, we are closing them, and we have several on the chopping block.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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