Author: Vinaya Kumar

The U.S. market is in an Uptrend Under Pressure. U.S. market was downgraded last week, after a clustering of distribution days and a breach below key support levels. All sectors expect Technology are trading below their 50-DMA as volatility remains elevated. Look for the Nasdaq and S&P500 to hold support at the 50-DMA and 100 DMA, respectively, to remain optimistic. We advise reducing exposure to any stocks that has broken below support from sound bases or key moving averages.