I never use a single indicator to determine whether the market is bullish or bearish, healthy or dangerous. The most important thing I analyze is the action of individual stocks. Yesterday’s gap down looked scary, but many stocks found support at rising EMAs and showed strength. Some closed strongly despite the indexes closing weakly. Others undercut and reclaimed the 9 EMA. Non-tech sectors were also doing fine, with some biotech names breaking out and financial stocks consolidating above the 9 EMA. Many names remained above the 21 EMA, inside their bases, or building higher lows. The weaker names were pulling back toward the 50 EMA, but most were still constructive on the weekly chart.
Source: Flawed plan with perfect execution | 24 Jun 2026