The interest rate cut on Wednesday by the Fed was highly anticipated but the market still liked it and pushed higher. New intraday highs were made in the S&P and NASDAQ indexes. A new closing high was made in the S&P.
Fed Chair Powell indicated that investors should not expect more rate cuts unless the economy weakens. For investors that was taken to mean that the Fed’s backstop was still in place for any weakness ahead.
Advance Decline Numbers Outlook for Oct 31 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 Oct 30 2019.
Members should review the changes for tonight before markets resume trading on Monday.
There were trades done on Wednesday in the new Market Direction Portfolio and more trades are planned for Thursday. Members should review that portfolio.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Oct 31 2019
Volumes were still reasonably good on Tuesday although slightly lower on both the NASDAQ and SPX indexes. Losses were again quite small. Advance Decline Numbers ....... Read More
On Monday the indexes lost ground giving back a handful of points as investors took selective profits. Advance Decline Numbers Outlook for Dec 10 2019 ....... Read More
For Monday, investors are looking at a market that will open within a handful of points from the all-time high. Advance Decline Numbers Outlook for ....... Read More
For Friday, investors face another jobs report, this one for November. I am expecting good numbers and a move higher. Advance Decline Numbers Outlook for ....... Read More
Volume was good on Wednesday and the market shot higher and tried to reach 3120. It came close and ended the day slightly lower at ....... Read More
There are some changes to the layout of the Market Breadth Indicator outlook starting today. Further changes are being implemented based on comments and ideas ....... Read More
The sell-off on Monday Dec 2 was sparked by a lower than expected ISM number. When markets began to sell, larger investors were repositioning for ....... Read More
Volume on Fri Nov 29 was low due to the half day of trading but the SPX opened higher and twice pushed above 3150. Low ....... Read More