The outlook for Monday was for stocks to trend sideways with a bias lower. It was the downgrade in the price of oil by JP Morgan that hurt stocks today.
Advance Decline for Jan 12 2015
Volume on Monday matched Friday’s volume at 3.4 billion shares. 67% of all volume though was to the downside and worse, the number of new lows shot up 146. With so many energy related companies now hitting new lows they are pushing up the overall daily numbers of new lows. New highs came in at 157 which was up from 152 on Friday. It was good to see the new highs haang on from Friday but the jump to 146 new lows shows the pressure stocks are now under.
Stocks were definitely under pressure on Monday.
Market Direction Closings For Jan 12 2015
The S&P closed at 2,028.26 down 16.55. The Dow closed at 17,640.84 down 96.53. The NASDAQ closed at 4,664.71 down 39.36
The rest of this evening’s market direction outlook has been to moved to the members section as it was expanded this evening and included information regarding the outlook for more than one day and included a number of trading ideas and topics.
Market Direction Outlook for Tuesday Jan 13 2015 – Pivotal Day For Stocks
FullyInformed USA Members can read the trade ideas, investing strategy notes and market direction outlook for Jan 13 2015 directly through this link or they can sign in to the full USA site here. Non-members can join here.
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