From 24/7 Wall St:
It is normal to see pullbacks. The problem is that most market pullbacks in the last five months have been rare or short-lived since the near-depression levels of early March.
But it has also been hard to not notice the stalling out of some key tech stocks, and today we are seeing some critical long-term moving average violations as a result. We have looked as Stockcharts.com for these reviews and links through to show the 50-day and 200-day moving averages.
Microsoft Corp. (MSFT), Amazon.com Inc. (AMZN), Research in Motion Ltd. (RIMM), Oracle Corp. (ORCL), and QUALCOMM Inc. (QCOM) have all hit our longer-term initial screens for the day based 50-day moving averages.
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