Traders Stunned By Momentum Meltdown As Earnings Quality Problem Simmers Under The Surface

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Authored by Lance Roberts via RealInvestmentAdvice.com, ?Technical Backdrop – Coiling Below The Record Here is where the quiet-index story gets interesting for traders. The S&P 500 closed the week at 7,457.69, and that put it right on top of its 50-day moving average near 7,464. Call it dead flat against the line. The index still sits about 6.8% above its rising 200-day average near 6,985, so the primary uptrend remains fully intact, and it is roughly 2% below the June 2 record high of 7,620. Momentum on the index itself is neutral, not broken. The 14-day RSI reads 48.8, smack…

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