Wed Apr 18 2018 Review
Wednesday saw the indexes trade in a tight range ahead of the Fed minutes being released but the bias was to the upside.
After the Fed minutes were released the hawkish tone reversed a decline in bond yields as the 2 year moved to 2.43%, the highest level in 10 years. Oil prices continued to climb and the stance of the Fed indicated that the accommodative policy which was a major cornerstone of the rally from the credit crisis, was over. That, combined with the decline in IBM for the worst one day drop in 3 years pushed stocks to sell-off into the close. The Dow closed down while the S&P and NASDAQ ended with small gains.
What was one of the more striking events on Wednesday was the afternoon decline in bank stocks. That definitely hurt the markets, especially with most of the banks providing some of the best earnings they have ever reported for a quarter.
Advance Decline Numbers Outlook for Thu Apr 19 2018
Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from Wed Apr 18 2018 and their outlook for stock markets for Thu Apr 19 2018.
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The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Thu Apr 19 2018
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