Yesterday was the worst day of SP500, it suffered its biggest percentage drop since August 5th. US indices fell Tuesday, ending at their lowest levels since August. All three US benchmarks closed at their lowest levels since August 22. The whole day the US and European stock markets were in negative territory, the pressure on the sell side dominated the trading sessions. Seemed that at all intraday tops the sellers jumped in and pushed lower and lower again the prices. The buyers were only able to hold prices for short periods like at the beginning of Apple new gadgets presentation, but finally the market voted „No” for Apple and pushed lower that stock too.
- DJIA: - 0.6%
- S&P 500: -0.65%
- NASDAQ: -0.9%
The reason of that red day? We don’t know, there is not any special thing. Maybe the optimism is stronger than necessary or after a 4% gain in S&P Mr. Market wants to take some rest. The market is just catching its breath and consolidating that is business as usual.
Technically still valid the resistance level at 2.007 until that level just stay away and wait for that breakout. As an investor most cases we don’t need to do anything, just doing nothing. Don’t forget and be patient.
The BFM Assets Team.
No comments:
Post a Comment