Bottom or bounce

Monica Kingsley Monicakingsley

S&P 500 did take on Sunday‘s bearish gap, turned green, but Monday didn‘t bring stabilization in the least – unlike prior Mondays. So, what was different about yesterday? Tech winners that stood firm in the latest bouts of selling, declined without warning – semis, memory, and same goes ofr energy stocks. Financials and communications though got bought very solidly, and same goes for industrials that ignored the rise in dollar – rise significant as it went through 100, even if yields retreated and HYG kept up the bullish sentiment intact for the opening part of the session. Not that Mideast would become an oasis of calm, and oil prices were retreating – Trump statements though moved the market both before the opening bell and after the closing bell Monday. What about the longevity and prospects, how much time is it buying, and can the S&P 500 price upswing be defended without derisking returning?

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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