Short-term, the market looks “toppish.” On the daily chart, the 10-day and 20-day moving averages are pointing down, while the 50-day and 200-day MAs are still trending up. Price sits below the 50-day MA. On the weekly chart, the NASDAQ remains in an uptrend and is about 7–8% above its 200-day (40-week) MA.
Investors worry that a strong economy could rei…
