Home Trade Closing Bell 3-17-19 S&P 500 Bull Market Rallies Gains 2.9% March 52 week high
3-17-19 S&P 500 Bull Market Rallies Gains 2.9% March 52 week high

3-17-19 S&P 500 Bull Market Rallies Gains 2.9% March 52 week high

0
0
0

• 3-17-19 S&P 500 Rallies Gains 2.9% March 52 week high • The S&P 500 finished the week at its highest close since Oct. 9, well above the 2803.69 that marked its March 1 high. But a bigger reason for optimism might be that bearish patterns haven’t turned into bigger selloffs, Tommy Trader say at www.TurboOptionTrading.com follow us now Tommy Trader He watches a “Bear Oscillator,” a measure that keeps track of whether bearish market patterns translated into selling, rated on a scale of one to 10. For much of 2019, the oscillator has remained at three or below, a sign that “no bearish pattern has been strong enough to achieve its downside target in nearly three months, “Tommy Market Maker says. We’re not without worries, of course. If the U.S. and China fail to reach a trade deal, the market will likely take a hit, while weaker-than-expected economic data and earnings could offer fundamental reasons to sell. On the technical side, small-cap stocks have underperformed large-caps, and breadth hasn’t been as strong as it should be, says Tommy Trader at www.TurboOptionTrading.com . “Large-cap is an isolated breakout,” Tommy says. FreeOptionTrader with his 3065 target on the S&P 500. Part of the reason is that so many investors have been reluctant to trust the current rally. The higher the market goes, the more they will have to consider buying in. “The pain trade is higher, not lower,” he says. “We’ll let the market dictate what’s going on, and then let the narrative fall into place.” The dominant narrative, of course, is that the U.S. is teetering on the edge of a recession that could occur next year, if we’re not already in one. But slowdowns usually come after periods of excess, notes TurboOptionTrading.com , and he sees few signs of them. “You worry when everyone is saying hooray and taking champagne bottles out,” he says. “At the moment, it feels like the champagne bottles are still in the freezer.”

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

Translate »
cycloneslider-slide