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Uncertainty Following Week-Long Rally, Correction In The Cards
February 20, 2018, 6:58 AMS&P 500 index closed virtually flat on Friday, after retracing its intraday move up. The broad stock market fluctuated following week-long rebound off previous Friday's local low, as investors took some short-term profits off the table ahead of long holiday weekend. Will this downward pressure continue today? Or is this just some correction within a new uptrend?
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More Optimism, But Stocks At Resistance
February 16, 2018, 6:58 AMS&P 500 index gained 1.2% on Thursday, as it further extended its short-term uptrend. The market continued retracing its sell-off from late January record high. But will nine-year-long bull market resume? We can see some short-term overbought conditions, and the market reaches 61.8% retracement of the sell-off. Will it lead to some short-term downward reversal?
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Stocks Extend Rally Off Friday's Low, But Short-Term Exhaustion Near
February 15, 2018, 6:59 AMS&P 500 index gained 1.3% on Wednesday, following lower opening of the trading session. The market has extended its rally from Friday's low. But will it continue higher today? We can see some short-term overbought conditions. Was this two-week-long sell-off the beginning of a new medium-term downtrend or just downward correction before another leg up? It's hard to say, but this move down set the negative tone for weeks or months to come.
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Stocks Calmer, But Way Below Record Highs
February 14, 2018, 6:59 AMS&P 500 index gained 0.3% on Tuesday, as it remained within its Monday's trading range. The broad stock market traded the lowest since early October on Friday, before bouncing off and closing higher. Is this two-week-long sell-off the beginning of a new medium-term downtrend or just downward correction? It's hard to say, but this move down set the negative tone for weeks or months to come.
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More Fluctuations Following Recent Sell-Off, Uncertainty May Continue
February 13, 2018, 6:56 AMS&P 500 index gained 1.4% on Monday, as it retraced some more of its recent sell-off, following Friday's upward reversal. The broad stock market traded the lowest since early October on Friday, before bouncing off and closing higher. Is this two-week-long sell-off the beginning of a new medium-term downtrend or just downward correction? It's hard to say, but this move down set the negative tone for weeks or months to come.
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