Stock Market Outlook for Thu Aug 27 2020 – Extremely Overbought, Dips Likely But Still Higher

Stock Market Outlook Extremely Overbought

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

Stock Market Outlook - Higher
On Monday we saw the expected weakness as investors took profits from the massive November rally. November ended with the largest one month gain since ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Mon Nov 30 2020 before markets resume. The morning notes for today cover a ....... Read More
Stock Market Outlook - Weakness
Friday was a half day thanks to the Thanksgiving Day holiday. All indexes climbed with the S&P up 8 points to close at 3638. For ....... Read More
Stock Market Outlook Higher Open Higher Close
Tuesday saw investors cheer the news of Janet Yellen being selected for Treasury Secretary. All indexes climbed with the Dow Jones closing above 30,000, an ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Tue Nov 24 2020 before markets resume. The morning notes for today cover a ....... Read More
Stock Market Outlook Higher Still
Monday saw the index continue the advance as further positive vaccine news embolden investors further. The index closed up 20 points, recovering from an early ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Mon Nov 23 2020 before markets resume. The morning notes for today cover a ....... Read More
Stock Market Outlook - sideways slight bias up
The outlook for the S&P on Friday was mixed with a stronger case for a negative day than a positive one. However most important was ....... Read More