Another stunning plunge on Wednesday, wiped out the gains made in 2018 by the Dow and the S&P. The NASDAQ is left with a 3% gain for the year, but has lost over 1000 points. On Wednesday the market seemed like it was holding on, but when the Fed minutes were released, investors felt the minutes showed the Fed was unconcerned about the continuing decline in equities and focused on inflation fears more. That led to heavier selling. While there was no panic selling to speak off, each support level that broke, brought in more sellers, whether so-called robot, automated or otherwise.
In the end, the S&P lost 84 points, the second worst day in October and the NASDAQ lost 329 points, a worse day than the Oct 10 sell-off.
Advance Decline Numbers Outlook for Thu Oct 25 2018
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 24 2018.
There are significant changes again tonight in the Market Breadth Indicator signals, the State of the Correction and the market protection outlook. Members should review the signals before trading resumes on Thursday.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Thu Oct 25 2018
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