Markets are down again today. After gapping down at the open, the DJIA was down more than 500 points at 1 pm CST, and both the Nasdaq and SP 500 are down about 2 percent.
Oil (WTI) was down $4 a barrel to less than $53. It hasn't been this low since last November.
As I indicated yesterday, the Nasdaq fell 3 percent below its 200-day moving average. The SP 500 and Nasdaq hit that level today.
However, the SP 500 index is still holding above the October low, which is a key level for chart watchers.
This is not a market to be buying. The February 2018 low on the QQQ (Nasdaq ETF) was about 150. Current level is about 159.
What happens next is anyone's guess. Patience is the key for now.
-
Climate change activists are not just interested in reducing carbon emissions in order to "save the planet." Their underlying desi... -
High-yield bonds are sending the stock market a warning sign. This is not a prediction, but a leading indicator. Just because it's happe... -
There are numerous posts on this blog, and millions on other blogs and news sites, on the subject of what the rich do different, but it'...
No comments:
Post a Comment
Thanks for the comment. Will get back to you as soon as convenient, if necessary.