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The Average Whip

|Includes:SPDR Dow Jones Industrial Average ETF (DIA), QQQ, RTH, SMH, SPY, XLF

Major indexes are seeing some whip-saw at their 50-day moving averages. No surprise here.



Thursday marked the second day of Accumulation this week, suggesting heavy buyers are on the prowl.

A better test of volume will come on a down day, where we'll look to see if sellers have lost their conviction.

The bullish cause is clearly being endorsed with semiconductors (NYSEARCA:SMH), retail (NYSEARCA:RTH) and finance (NYSEARCA:XLF) all above their 50-day moving averages.

How long this will remain ultimately means everything for the dominant direction of the market. We also have a number of quality stocks holding high ground, though nothing truly stellar, but then again, it's summer, a time when sideways price action has been known to set a tone.

More on individual stocks in our report for subscribers.

Stay tuned,

Dan
thegrowthstockreport.com

Disclosure: Short: DECK, CAAS, CUZ. Long: CHS

Stocks: DIA, SPY, QQQ, SMH, RTH, XLF