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 - sideways slight bias up
Wednesday saw another choppy day of trading but also another intraday new high as the S&P reached 3931.50. The close saw the index back just ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Thu Feb 11 2021 There are a number of topics discussed this morning along ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Wed Feb 10 2021. There are a number of topics discussed this morning along ....... Read More
Stock Market Outlook for Wed Feb 10 2021 - Volatile With A Slightly Lower Close
Tuesday saw the break we had expected after 6 straight days of gains and numerous new highs. Losses were minor at 4 points down and ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Tue Feb 9 2021. There are a number of topics discussed this morning along ....... Read More
Stock Market Outlook for Tue Feb 9 2021 - Up Signal Confirmed
Monday saw the S&P open above 3900. The index fell back mid-morning to below 3900 but buyers used every dip during the day to snap ....... Read More
Morning Investing Strategy Notes
For FullyInformed Members here are the morning investing strategy notes for Mon Feb 8 2021. There are a number of topics discussed this morning along ....... Read More
Stock Market Outlook Unconfirmed Up Signal
Friday saw the S&P end the week with another 15 points tacked on to the index for a new closing high and a new intraday ....... Read More