Markets on Wednesday March 20 were led lower by financial stocks that pulled back after Fed Chair Powell announced no interest rate hike and indicated there would be no further rate hikes in 2019. Treasury yields fell which prompted investors to sell out of bank stocks. Utility stocks rose which included the Utilities Select Sector SPDR® ETF (XLU) which back on March 14 had hit a new 52 week high.
Stocks initially rallied strongly on the news of no Fed rate increases and turned positive, but then gave back the rally and closed negative on the day.
Advance Decline Numbers Outlook for Thu Mar 21 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 Mar 20 2019.
Members should review these signals as there are changes tonight following the Fed’s decision not to raise rates further through 2019. There are also changes in the “Latest Outlook”, Protection Level and VIX Index Strategy.
There are also some trade ideas for Thursday that I am considering entering.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Thu Mar 21 2019