Deep Correction – to Continue or Reverse? The S&P 500 Index breached the key support level of the 200-DMA (currently around 2768) and has broken below on Monday and closed below it for a second day on Tuesday, 10/23. With the sharp drop to below 2700 and then a fast recovery on Tuesday, followed by Wednesday’s (more…)
Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan for Thursday, 10/25” will be posted around 8:30am EDT, Thursday. THE GIST (“THE WHAT”) In a dramatic sell-off, the S&P 500 index plunged 3.09% as panicked investors fled to safe-haven assets amid growing concerns of slowing global economic growth and rising production costs that have (more…)
Continued Whipsaw Action Forecast – Day 3! The busiest earnings week of the season has started off yesterday, Monday 10/22, with no positive momentum. The growing geopolitical tension around the Saudi journalist Khashoggi’s killing and the trickling impact on the key Saudi investor conference seems to be denting the investor sentiment. The S&P 500 (more…)
