Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Fear And Loathing In The S&P

Published 07/24/2014, 01:34 AM
Updated 05/14/2017, 06:45 AM

We finally got a break from our 7-day up-down pattern in the S&P, but we also saw the slowdown we expected. Today was marked by low volume and a straightforward 7-point rise. The range was no wider than that and with the MOC showing buyers matched with sellers, it was clear that the few who had some trading to do got it done and that was pretty much that.

As we said this morning, there are further buy stops up through 1990, so look for opportunities to buy on pullbacks. We remain bullish overall.

HIGH: 1983.20
LOW: 1976.00
LAST: 1982.00 UP 7.1 Handles
TOTAL VOLUME: 1.2mil minis; 2k bigs
MOC: Evenly Paired Off

FOR TOMORROW:

Jobless Claims
PMI Manufacturing Index Flash
New Home Sales
EIA Naural Gas Report
Kansas City Manufacturing Index
2, 5, 7yr Note Announcements
10yr TIP Auction
FED Balance Sheet
Money Supply

It's the same old story, narrow range and low volume…

Facebook Inc (NASDAQ:FB) and QUALCOMM Incorporated (NASDAQ:QCOM) out after the close.

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.