Investor nervousness as the market recalled the Oct 1987 crash which is “celebrating” its 30th anniversary, put pressure on the indexes at the open. The Dow Jones opened the day down over 100 points, which considering where it was sitting on Wednesday above 23,000 was actually not much of a drop. At 100 points lower it failed to break through 23,000 falling to just 23,052.67.
Most of the day was spent with the indexes clawing their way back up. By the end of the day, with rumors circulating that President Trump might appoint Federal Reserve Governor Jerome Powell as the next Fed Chair, the S&P and Dow closed positive, setting new highs. The NASDAQ couldn’t turn positive weighed down by a number of stocks including a major decline in Apple Stock.
Here is the outlook for the S&P and NASDAQ indexes for Fri Oct 20 2017 as viewed by the advance decline numbers from the close of trading on Thu Oct 19 2017.
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Advance Decline Numbers Outlook For Oct 20 2017
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