Wednesday saw new all-time highs again the both the S&P and the NASDAQ. With news overnight on further advances by Moderna for vaccine development, markets may try to still push higher on Thursday.
As the evening was again spent on the work being done on the members site, there is no full stock market outlook for tonight. Instead there is a short write-up below.
Support and Resistance Levels To Be Aware Of:
3500 is major resistance
3450 is resistance
3400 is resistance
3375 is resistance
3300 is resistance
3275 is support
3200 is support
3150 is support
3050 is support
3000 is support
2975 is light support
2950 is light support
2900 is light support
Stock Market Outlook for Tomorrow – Thu Aug 27 2020
For Thursday all eyes will be on Powell’s speech, although it is expected to be a “non-event” as far as surprises are concerned. Nonetheless we will see some nervousness during the day. As well the index is extremely overbought as it approaches 3500 which is major resistance.
There is weakness expected for the morning on Thursday but no large dips are expected. The outlook remains unchanged at still higher by the close.
Stock Market Outlook Archives
Tuesday saw the S&P tumble all the way to 3805 just above the 50 day moving average within 20 minutes of the market open. That
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For FullyInformed Members here are the morning investing strategy notes for Tue Feb 23 2021 There are a number of topics discussed this morning along
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Monday saw stocks move lower with the S&P ending the day down 30 points to 3876. The NASDAQ though saw a decline of 341 points
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For FullyInformed Members here are the morning investing strategy notes for Mon Feb 22 2021 There are a number of topics discussed this morning along
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Friday Feb 19 saw stocks attempt a bounce, as expected but it failed to gain much buying interest once the index reached 3930. The index
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For FullyInformed Members here are the morning investing strategy notes for Fri Feb 19 2021. There are a number of topics discussed this morning along
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The Weekly Initial Unemployment Insurance Claims sent a few shock waves through the markets coupled with earnings from Walmart that seemed to disappoint a large
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For FullyInformed Members here are the morning investing strategy notes for Thu Feb 18 2021. There are a number of topics discussed this morning along
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