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Marc Sutin’s Market Analysis Comment – Wednesday May 12, 2020
US Stock Market Signals More Short-Term Weakness Ahead
S&P 500 fails at late April high and turns lower
Key downside reversal days posted today by both the NASDAQ Composite and the NDX as well as the Technology SPDR XLK
Microsoft turned back at resistance from February highs
Apple posts downside reversal day
Facebook and SMH (Semiconductor ETF) post key reversal days
Alphabet and Netflix struggling at late April resistance
Health Care SPDR XLV Posted a Downside Reversal Day...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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