Yes partially true...the big companies holding up the S&P500 index
See my NYA200r chart above..That chart shows the percentage of S&P500 companies above the ma200 line..At posting there were 62% companies above their MA200 line..Today it has risen to 66% with the S&P500 index snap back above its MA50..On the surface it may sound a bullish start to another, however the above chart indicators are slow to react to this atm...so caution (regarding this snap back rally) is a prudent action...
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