It seems to me not really. I was asked on Monday
that due to this government shutdown would affect negatively or not on the
markets. I said no because that news which known by everybody is not a news
anymore to the market. And as I see the three-day movements the US market is
just ranging, but the Europeans are much stronger, was enough one day to get
back close to the historical highs. The sentiment in Europe is more positive
now than in US. And another remarkable fact since the shutdown took effect early
Tuesday morning the Nasdaq and Russell are much stronger than Dow or SP500. The
shows the technology sector is stronger, that is a good marker about the
sentiment.
Now it looks the government shutdown continues for
a third day on Thursday.
The S&P 500 -0.07% declined 1.13 points, finish
at 1,693. The telecom, health care, and industrials as the worst performing
sectors.
The Dow -0.39% , which at one point was off by 147
points intraday, closed down 58.56 points, at 15,133.
The Nasdaq -0.08% , at 3,815. Earlier in the
session, the Nasdaq had been down nearly 30 points.
Technically I don't see neither the fear on the
market. Yesterday during the day the US futures was massively in the negative
territory, but by closure they recovered. In the last 2 weeks the Dow lost
closely 5%, which is huge. The knife is still falling, but stopped yesterday.
Almost 12 days in row falling. Maybe the Dow will test the key support level at
14.800.
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Have a great day!
The BFM Assets Team
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