Monday saw stocks open higher and then slide back. The S&P morning low was 2856around 10:20 AM. From there stocks stayed above 2860 for the reminder of the day. The close saw stocks rally in the final few minutes to close up 31 points. Friday Aug 23 saw the index fall 73 points so Monday came close to recovering 50% which is typical of a bounce.
Overall Monday showed a lot of signs that the day was just a bounce. However considering that Friday’s decline was well overdone and built only on fear, it was great to see Monday have buyers return, albeit in smaller numbers.
Advance Decline Numbers Outlook for Aug 27 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 Mon Aug 26 2019.
Members should review the signals before trading resumes on Tuesday as there are changes following the rally of stocks on Monday, following Friday’s plunge.
There were trades in the Market Direction Portfolio on Monday and more are planned for Tuesday. These are outlined in the market direction portfolio section.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Aug 27 2019
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