The market continued its collapse for a second day on Monday. The decline was prompted by reports of weakening iPhone orders. Apple shaved 25% of the Dow’s losses or basically $150 points. It closed down 5% at $194.17, below the important $195 support level. But there were other factors including a stronger dollar, and bond yields which look set to move higher on Tuesday after being closed on Monday for Veterans Day. With Apple falling, FANG stocks also declined which spread to the broader market. As stocks that just last week were being snapped up, fell back, investors sold out of recent picks, adding to the decline on Monday.
The Dow closed down 600 points, the S&P almost 55 points and the NASDAQ fell 206 points for the worst percentage loss of 2.78%. Let’s look at Monday’s Market Breadth Indicators and see what signals are for the outlook for Tuesday.
Advance Decline Numbers Outlook for Tue Nov 13 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 Mon Nov 12 2018.
Following Monday’s collapse again in equities, members should review all market breadth signals as well as possible trades being planned, before stock markets resume trading.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Tue Nov 13 2018
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