Multiple Sectors and Indices Break Below 50-Day SMA on Bad Jobs Data

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Several sectors and indices have been quietly headed south over the last couple trading sessions. On the back of a big miss for jobs data, we've seen several of these sectors break down below their 50-day sma to the downside, signaling that more downside could lie ahead. Notable sectors and indices include: S&P Financial
XLF
S&P Materials
XLB
S&P Energy
XLE
S&P Industrial
XLI
S&P Transports
XTN
Dow Jones Transports Russell 2000
IWM
(Index) Nasdaq Composite
QQQ
(Index)
Posted In: Sector ETFsBroad U.S. Equity ETFsTechnicalsTrading IdeasETFs
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