Monday was yet another wild day on the stock markets. In the morning the indexes were flying high. The Dow was up over 300 points but as the morning drew to a close the indexes were weakening. In the mid-afternoon word that further trade tariffs might be introduced sent stocks into free-fall. The Dow fell 500 points and the S&P crashed through support levels at 2650 and 2625. At one point it looked like the S&P would break down to 2600, a level I had not expected to see until Tuesday or Wednesday this week. The close saw buyers step back in and the indexes recovered about half their afternoon losses.
These drops are causing further damage to the technical strength of the markets. In the afternoon on Monday, buyers disappeared on news of potentially more tariffs making the plunge deeper.
Advance Decline Numbers Outlook for Tue Oct 30 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 Oct 29 2018
New correction lows were made on Monday’s afternoon drop. Tonight Market Breadth Indicator outlook also updates the various trades in the market protection section.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Tue Oct 30 2018
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