Monday saw the indexes bounce back following an early morning drop. This was natural after the rally on Thursday and especially Friday which left the indexes overbought. Monday;s early morning drop was bought into as expected and the SPX rose to just shy of 2960 before an afternoon drop sent the index back negative to close at 2938 for a loss of 13 points. Investors remain concerned about the trade negotiations with China and what appears to be conflicting “stories” about the potential for a partial versus a full trade agreement.
Advance Decline Numbers Outlook for Oct 8 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 Mon Oct 7 2019.
Members should review the signals before trading resumes on Tueday. Make sure to read the historic outlook for this week.
Also members should review the Market Direction Portfolio trades.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Oct 8 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