For FullyInformed Members here are some closing comments and Stock Market Outlook for Wednesday morning after the close today.
Stock Market Outlook – After The Close Mar 22 2016
The close today saw the markets turn back down and give back all the afternoon gains.
Stock Market Outlook – 2 Day Chart
Looking at the two-day chart below you can see we have a pattern unfolding where the afternoon rallies are being sold off. Even though much of this is computer program trading for the last 30 to 60 minutes of the day, it is still a sign of weakness.
On Monday the S&P fell to a low in the morning of 2044 and then managed to recover to climb to 2053 in the afternoon on light volume. The afternoon gains were given back into the close and the market closed at 2051.60 just above the 2050 level.
Today the S&P opened lower due to the attacks in Brussels. The drop to just below 2041 was bought into and the market rallied first to the 2050 level and then to 2055. The afternoon rally though was once again sold off and the SPX closed back at the 2050 level with a close of 2049.80.
Stock Market Outlook -Two-Day Intraday Chart
Stock Market Outlook – After The Close For Mar 22 2016
FullyInformed Members can read the full Stock Market Outlook closing comments for today directly through this link or they can sign in to the full site here. Non-members can join here or read about the benefits of a membership.
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