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Marc Sutin’s Market Analysis Comment – Monday June 22, 2020
Mild Short-Term Correction Underway for US Stock Market
Push-Pull Between Recovery Hopes and Coronavirus Case Increases
Coronavirus Case Increases and Fed Balance Sheet a Concern
No Serious Technical Damage to the Uptrend from March So Far
US Stock Rally was Technically Strong at the Early June High
Support from June 15 low at 2965 could be tested. S&P 500 is Trading 3103 currently
A break of the June 15 low would be a more negative development
We Expect More Upside Once This Short-Term Pullback Runs its Course...MORE...
Be An Informed Stock Market Investor; Find Opportunity
Have you ever worked on an equity trading desk? It’s Intense and exhilarating at the same time. The background chatter from the traders, the soft cross-talk from the TV monitors all enhancing the news flow that is coming to the traders at their trading stations. All this as the financial markets create their own dynamic in which investors get the opportunity to risk capital with the intention of reaping profits.
While news moves markets it’s the interpretation of the news through a melding of the technical position of the stock market with the linkages between economic data and movements in the currency, bond and commodity markets that create opportunity. The intention of our Blog is to help you seize that opportunity.
When the ISM data is released do you know what data within the report could move which market, which sectors? Can you tell from the stock market’s reaction what it is saying about its view of the data? That’s the tale of the tape. We’ll help you read it.
Marc Sutin is President of Intuitive Analysis, LLC. As President he serves as analyst, publisher and communicator of the firm’s outlook for the financial markets.
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