The Stock Market Outlook for Monday was for the markets to continue to show weakness but by the close, move into positive territory, even if only slightly. For Tuesday all eyes and ears will be on the Fed Chair Janet Yellen.
S&P Index Close
The S&P opened at 2037.05 moving up just 1.11 points on lighter the usual volume being caused by Easter Monday and the number of investors who were on holidays.
Dow Jones Index Close
The Dow Jones moved higher by 19.66 points following a gain on Friday. The Dow Jones closed at 17,535.39.
NASDAQ Index Close
The NASDAQ fell slightly on the day losing 6.92 points to close at 4,766.79.
Stock Market Outlook – Advance Decline Numbers
Volume was weak 2.8 billion shares traded. By the close 48% of all volume was to the downside and 49% was to the upside. 55% of all stocks were advancing on New York and 41% were declining.
New lows fell to 11 but new highs jumped to 108.
Stock Market Outlook for Tomorrow – Tuesday Mar 29 2016
The technical indicators did not change much and as a result I have not included the technical chart this evening.
The advance decline numbers are perhaps the best indicator of how the market is sitting for the start of trading. Unfortunately as the Fed Chair will be speaking on Tuesday, I am expecting the markets to stay in a fairly tight trading range until investors get some idea as to the contents of the Fed comments.
Any hint that interest rates will rise in April will send stocks lower on Tuesday. Any comments that rates will remain unchanged perhaps into June should see a rally into the close on Tuesday.
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