Stocks Rise, But Momentum Is Fading

Stocks advanced today rising by around 1.3% to finish the week flat.

Stocks advance on April 24, rising by around 1.3% to finish the week flat. We managed to recoup the significant losses from the beginning of the week, waiting for what’s to come next week, which will be substantial in terms of earnings. 

Overall, the RSI has now once again started trending lower despite the rally today in the equity market. Meanwhile, the advance/decline line has also flattened out. These two indicators may very well be suggesting that the S&P 500 is losing significant amounts of momentum. Additionally, volume levels are starting to drop; a sign buyers may bee thinning out.

(Click on image to enlarge)

S&P 500, spx

Amazon (AMZN)

Amazon has been trading sideways, and I’m wondering if it is forming an ascending triangle.

(Click on image to enlarge)

amazon

The RSI in Netflix (NFLX) has flipped from bullish to bearish. 

(Click on image to enlarge)

Alibaba (BABA)

The uptrend in Alibaba is broken now, and if $201 breaks, $188 would be next. 

(Click on image to enlarge)

baba, alibaba

STOCKS IN THIS ARTICLE

Also Mentions:

Comments