Evidence

the stock market, if you measure it by the index itself, looks way overvalued, but it's dominated by 10 stocks that are probably the most overvalued... I wouldn't be buying the S&P index today.

— FAST Graphs

talk about bearish structure and talk about bearish location. This week achieves both of those objectives for the sellers... it seems like a weekly trend reversal in the downward direction.

— Trade Brigade

we can go on over to an MU in the memory space, also underneath the 20 SMA, failing and closing underneath the 50 as of Friday.

— Trade Brigade

If you look at Microsoft, it's getting a little bit of a bounce, but is this a a trend that you can have faith in? I don't think so. Not with a declining 50 and a declining 200 day moving average... consider it a bounce within a primary downtrend.

— Brian Shannon - Alpha Trends

The Russell 2000 failed miserably this week... cash is a position and risk management isn't just something I'm talking about because the market is down.

— Brian Shannon - Alpha Trends

Nvidia still acting like garbage right here on the 200 day moving average.

— Brian Shannon - Alpha Trends

I think it's you know it's more likely that this market is going to continue lower. We're seeing a lot of damage being done... it's just growing uglier and uglier as more stocks start breaking down, and we're losing leadership all over the place.

— Brian Shannon - Alpha Trends

Micron failed to hold its year-to- date anchor. Don't buy the dip while we're below a declining fiveday moving average.

— Brian Shannon - Alpha Trends

we're stuck below the daily volume weighted average price. It's not bouncing at that prior low. It's not trapping shorts in there. We have a market that is in a bearish environment.

— Brian Shannon - Alpha Trends

The Russell 2000 failed miserably this week... we don't want to be buyers not what we have lower highs and lower lows with a declining 5-day moving average... Buying this market makes zero sense.

— Brian Shannon - Alpha Trends

Oracle earnings looked good at face value. The stock gapped up big time. Uh although it was a great fade right off the daily 50 SMA. So Oracle gap and go or maybe you know gap attempt and to go and then fail. It was probably more of a short than anything else.

— Trade Brigade

Apple is looking like it's heading for at least a test of the 200 day moving average.

— Brian Shannon - Alpha Trends

The Russell 2000 has, you know, was once again this year is supposed to be the one that would lead us higher and it broke out of this triangle that we spoke about two weeks ago and it's just continued on down from there.

— Brian Shannon - Alpha Trends

Microsoft is failing again in here. It's back below the 20 and the 50 and the 200 day moving average.

— Brian Shannon - Alpha Trends

I don't really see much in the way of bullish strength here on the weekly.

— Trade Brigade

structure this week is like shouting from the rooftops, hey, this is bearish, right? Very, very bearish close there on that Friday session.

— Trade Brigade

we have a very cautious stance on the US stock market right now. We just raised our estimate on the probability of a recession happening in the next 6 months from 0% to 40% in the last few weeks.

— Bravos Research

This, as we know, has been more bearish with the breakdown of the overhead supply. You could see the clear lower high here just like the S&P 500... Great descending triangle, increased odds of a breakdown.

— Trade Brigade

Microsoft is broken. It's making a new low. We've spoken, you know, numerous times over the last few weeks about this trend line and this anchor off of the 2022 lows. The more times any level of support is tested, the more likely it is to fail to hold.

— Brian Shannon - Alpha Trends

These markets are in trouble. They've been in trouble. They continue to broadcast the same message week after week. And that's, you know, the only way that you can objectively look at this market is a pattern of lower highs and lower lows.

— Brian Shannon - Alpha Trends

If good news can't make it go up

— Brian Shannon - Alpha Trends

the weekly trend is down with room for a counter trend lower high to be set... even though there are some upward pointing paths here, all of them resolve as lower highs as of right now until proven otherwise

— Trade Brigade

The Russell two thousand hit a ten percent drop this past week. The Russell two thousand small cap index is in correction territory.

— EarningsBeats