On Wed Feb 21 2018 the stock markets were rallying fairly strongly, until the benchmark 10 year Treasury reached a four year high. This pushed the US dollar higher and stocks pulled back. Minutes from the latest Federal Reserve policy meeting showed a more hawkish stance and a need to continue to raise interest rates. The Fed was also more “upbeat” that inflation would continue to rise. For most analysts they believe the new Fed Chair Powell will raise interest rates again in March and the outlook is for further interest rate hikes this year and into 2019. There were also some who indicated they believe the stock markets probably topped in January and while none expect a bear market this year or even next, many doubted the indexes could recover the highs from January. All of this doom and gloom added to the selling which sent stocks tumbling lower. By the close the Dow had wiped out a 300 plus point gain and ended with a 166 point loss. The S&P which had been flirting with pushing beyond 2745 fell to close at the 2701 level. Only the NASDAQ saw small losses, falling just 16 points.
Here’s the Market Breadth Indicator outlook for Thu Feb 22 2018.
Members should review the Market Breadth Indicator as there were significant changes in the market breadth indicators after the trading on Wed Feb 21 2018 .
The market breadth indicator analysis and outlook is for FullyInformed Members.
Advance Decline Numbers Outlook For Thu Feb 22 2018
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