Tuesday started off well with the S&P reaching 3014 just 14 points below the all-time high. However poor earnings from some big cap names, McDonalds, Travelers Companies, and some downgrades on payment processors and diminished outlook for retail sales into the holiday season began to weigh on investors in the early afternoon. News that Brexit was again going to be delayed beyond the Oct 31 deadline was the final excuse to enter some selling and the final hour and a half of trading saw the S&P slip below 3000 in a fairly broad-based selloff. The index closed at its low for the day.
Advance Decline Numbers Outlook for Oct 23 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 Tue Oct 22 2019.
There are changes tonight following Tuesday’s close which saw the indexes close at their lows. Members should review the changes.
As well review the new Market Direction Portfolio signals.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Oct 23 2019
Market breadth was once again fairly good on Monday despite the market being heavily overbought. Intraday the SPX made a new all-time high of 3124.17 ....... Read More
More new closing highs on Friday with the S&P closing at the high of the day, 3120.46 on rising volume. The NASDAQ closed at its ....... Read More
On Thu Nov 14 2019 the index ended the day with another new closing high but failed to recover the new intraday high made on ....... Read More
The indexes climbed higher again on Wednesday. The S&P made a new all-time closing high, while the NASDAQ closed down slightly. It was Disney that ....... Read More
Tuesday saw the indexes bounce higher at the open, make all new highs and then give back much of the rally on comments from President ....... Read More
Friday saw new all-time highs again in the indexes. The final 15 minutes of trading saw high volume and a push still higher. Advance Decline ....... Read More
Thu Nov 7 2019 saw indexes jump to all-time highs across all 3 indexes on reports that further trade negotiations were positive with China. The ....... Read More
Tuesday Nov 5 saw the indexes face some resistance to a move higher as spikes found sellers waiting. With the dollar rising and crude oil ....... Read More