The market was a complete disappointment for the bulls today, as they failed to hold the majority of their gains. As a result, next week is setting up to be yet another difficult week for them, as we closed this week breaking below the 50-day moving average and created a lower-low in the markets. At this point, the long setups are dead to me except in extreme oversold conditions, and will look to short the rallies just as I have done the past two days by gradually building up a large position in SPY.Â
The stocks below are showing signs of, or already in the process of, breaking down as the smart money appears to be leaving them in a subtle manner. There are stocks trading at its peak and finally showing some vulnerability, while on the other extreme, there are stocks that have been in a channel near or at their lows, before finally breaking down below those lows.
Here are 29 Stocks Breaking Down.
