How Much Further Will the Nasdaq Slide?

Bond yields are up while global stock markets are mixed today, even though the Senate passed a $1.9 trillion COVID-19 relief bill. 

The Senate passed on Saturday President Joe Biden’s economic aid package that’ll send most Americans $1,400 payments, as well as cash to businesses hit hard by the pandemic. This is great news for Biden’s administration and Democrats who are rushing to get out another round of aid. 

But you wouldn’t know it by looking at the market right now…

While everything was looking peachy, I’ve been telling you for months that the market is overstretched. And now, the number of stocks trading above their 200-day moving averages dropped from the 90th percentile to the 70th percentile. It’s not good to see a down market on positive news, folks. 

In today’s video, I’ll show you how much downside we can expect from the Nasdaq… whether momentum levels are beginning to balance… which reports could impact market action this week… which sector you should focus on right now… and the top stocks roaring to new highs.