Good news & bad news. While Mondays action was productive overall, our Current Market Outlook remains unchanged.
The Good news: the markets advanced today and relieved some of the current technical pressure weighing on the indexes. Two notable bright spots were the meaningful opening price “gap ups” and the closes over key moving averages by the Nasdaq & the S&P 500 indexes.
The Bad news: the volume of shares traded today on both of those major indexes was much lower than the level on Friday reflecting a lack of strong buying demand by institutional investors. Additionally, Distribution Days remain high in number on the Nasdaq with that index experiencing 7 of them in the past 14 trading sessions. By the way, North Korea comes back from a holiday tomorrow.
The clash between the bulls & the bears continues tomorrow. Stay tuned.
Have a Triumphant day! ®
The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice.
©2017 Triumphant Portfolio Management, LLC.
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt