The S&P on Wednesday stayed trading within a tight range between 2928 and 2917. This keeps the index at the higher end of the past 10 days of trading on the S&P. You can see in the chart below that the index is having trouble breaking through 2930. It remains very overbought. With one day to go before Fed Chair Powell speaks, we could see the index a bit weaker on Thursday thanks to the 10 year bond yield dipping again which many investors and analysts believe is warning of a potential upcoming recession.
Advance Decline Numbers Outlook for Aug 22 2019
Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from the close of trading on Wed Aug 21 2019.
Members should review the signals before trading resumes on Thursday.
There were no trades in the Market Direction Portfolio on Wednesday. There may be trades on Thursday depending on market action.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Aug 22 2019
Members can sign in to the full members site here
Become a member. Join here, read comments, review benefits