The S&P500 and Nasdaq Composite hung tight in the 3rd quarter of 2019 with the S&P500 rising 1.19%* while the Nasdaq gained 1.23%*. (* percentages listed without dividends)
These tame returns masked a more volatile quarter of price swings that featured three sharp declines in the middle of the quarter with the worst one falling (-6.80%) on S&P500 and (-8.11%) on the Nasdaq . While the major indexes rallied in the last half of the quarter, they faded into its end and in the process failed to make a new high. This price action sets up the possibility of a “sub-peak” and puts the finishing touches on a possible ominous “head and shoulders” pattern. Be that as it may, the stock markets uptrend, which started in January and was confirmed in May with a “higher low,” is still intact.
Remember to keep checking our “Current Market Outlook” section for important technical updates on the market as 2019 progresses. https://triumphantpm.com/current-market-outlook
Have a Triumphant day! ®
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt