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
Wednesday saw the SPX and NASDAQ continue their advance but the Dow Jones index had trouble and closed negative. Advance Decline Numbers Outlook for Thu ....... Read More
Tuesday saw Monday’s rally extended. The day ended with the S&P and NASDAQ closing at the day’s high. Advance Decline Numbers Outlook for Wed Jul ....... Read More
Wednesday saw stocks fall in a broad retreat. Advance Decline Numbers Outlook for Thu Jun 25 2020 Here are the market breadth indicator signals along ....... Read More
Tuesday saw weakness in the mid-afternoon which pushed the index to it’s low of the day. It was still an up day, but the S&P ....... Read More
Monday was a rather choppy day but stocks pushed higher through most of the day and closed positive. The NASDAQ closed at a new all-time ....... Read More
Friday saw stocks under selling pressure right from the open. The day ended with slight losses of half a percent and the SPX down to ....... Read More
Thursday saw stocks stage a late day rally, which has been common over the past few weeks. Both the S&P and NASDAQ closed higher. Advance ....... Read More
Wednesday saw a dramatic drop in stocks in the final hour of trading. Advance Decline Numbers Outlook for Thu Jun 18 2020 Here are the ....... Read More