Tuesday’s plunge was deeper than I had expected. There are signs though that the selling on Tuesday may lead to a bounce attempt on Wednesday. While it is unlikely any bounce will hold on Wednesday, Friday could be the hardest day for stocks depending on the status of trade talks with China and we also get the Uber IPO. This IPO is highly anticipated but if priced too high, such as we saw with Lyft, the market may reject the IPO and move lower.
Advance Decline Numbers Outlook for Wed May 8 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 Tue May 7 2019.
There were a lot of changes in the market breadth signals after the close on Tuesday. Members should review these signals before trading resumes on Wednesday.
The market breadth indicator analysis and outlook is for FullyInformed Members.
Market Breadth Indicator – Advance Decline Numbers Outlook For Wed May 8 2019