On Wednesday it was the banks that weighed on the broader S&P but tech stocks helped push the NASDAQ to another record closing high. In general though the day was sideways with a slight bias up. The Dow with just 30 components closed down slightly.
S&P Index Close
The S&P index ended the day up just 1.59 points to 2294.67
Dow Jones Index Close
The Dow Jones ended down 35.95 points to 20,054.34
NASDAQ Index Close
The NASDAQ closed up 8.24 points at 5682.45
Stock Market Outlook
There is no technical chart this evening as there is no change in the market for Thursday from Wednesday’s outlook.
Support Levels To Be Aware Of:
The market has built light support at the 2250 level. There is light support at 2195 but better support is at 2180 and then 2150.
Stock Market Outlook for Tomorrow – Thursday Feb 9 2017
The technical outlook is continuing to be 4 indicators that are positive and 3 that are negative.
The market’s performance on Wednesday was uninspiring, especially after giving back the rally on Tuesday. There seemed little effort to push stocks higher on Wednesday which left the technical indicators unchanged from Tuesday’s market close.
The closing candlestick for Wednesday was bearish.
The S&P on Thursday may try once again to move higher, but until there is more clarity from the Trump agenda the market may stay stuck at present levels with small moves daily.
For Thursday Feb 9 2017, the outlook is unchanged at sideways with only a slight bias to the upside.
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