On Monday Aug 5, the markets had their worst day of 2019. The S&P is now down 6% from its all-time high set back on July 26. The downturn has not been a result of earnings or a recession or even the jobs numbers, all of which are doing just fine. Instead the drop has been a direct result of a lackluster interest rate cut that disappointed investors and the decision by President Trump to raise more tariffs on China. The move to increase tariffs caught investors and analysts by surprise and sent shock waves through the markets. Monday’s decision by China to devalue their currency lead to the market sell-off. Tuesday’s market has to contend with charges of currency manipulation by the Chinese which in the long run are more symbolic than anything else. I think we will find that Monday’s collapse was the pinnacle of the sell-off.
Advance Decline Numbers Outlook for Tue Aug 6 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 5 2019.
Members should review the signals before trading resumes on Tuesday.
As well there were trades done in the Market Direction Portfolio on Monday and there are more planned for Tuesday.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Tue Aug 6 2019
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