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
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