iy's going towards its 4 month ma price of july - last week that was in the $55s- today it will be a lower price than it was last week- but i haven't checked the 4 month ma price of july today to see what it is.
the spx, nasdaq, dow, and other stocks are doing the same thing too- they are all moving down to get to their resp[ective 4 month ma prices of july! last week on july 1st, the 4 month ma price for the spx was at 1935- with the spx being in the 1960s today, that 4 month ma price for july will now be lower than 1935- the spx will move towards that 4 month ma price in july- to either touch it or get close to it!
stocks and indexes do this every month with respect to the 4 month ma price of each - i've written about this almost every month (for ddd's 4 month ma price of the month in question) since last august on this board ;)
Don't know. At least its the whole sector and not focused on any particular company. But I must confess I thought the trend had reversed especially with all the good news out there. But I was wrong and last week tht gain was a one day wonder for what ever reason. A fake out. Hope this is not the start of a general market correction was many have been anticipating and I thought wold be at least a month off, depending on earnings which haven't started yet. We shall see.