Market Close on Tue May 29 2018
On Tuesday it was not North Korea but Italy and Eurozone jitters that sunk the Dow and S&P Indexes. Both suffered their worst day since April 24. With worries about the potential of Italy leaving the Euro, investors rushed to to US debt instruments pushing down yields, particularly 10 year Treasury yields which then weighed on banks. On top of the chaos JP Morgan released comments that indicated second-quarter revenue would be flat. This was followed by news from Morgan Stanley’s wealth division which indicated activity had slowed since March. This sent financials lower with JP Morgan Chase Stock (JPM) down 4.3% and Morgan Stanley Stock (MS) down 5.8%.
Oil pulled back which also lead to selling in the oil sector. All in all it was a dismal day for stocks. Now the question is did the selling translate into serious changes to the Market Breadth Indicator signals. Let’s take a look.
Advance Decline Numbers Outlook for Wed May 30 2018
Here are the market breadth indicator signals along with advance decline numbers from the S&P 500 Index and NASDAQ Index from Tue May 29 2018 and their outlook for stock markets for tomorrow, Wed May 30 2018.
Members should review signal changes before trading resumes on Wednesday following Tuesday’s big drop.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Wed May 30 2018
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