Earnings season is just getting underway and stocks extend their short-term uptrend. Yesterday's trading session was mixed, as the market reached potential resistance level. Is this a topping pattern or just quick profit taking action before another leg higher?
Bulls regained their strength on Wednesday, as stocks retraced Monday's sell-off following lower opening of the trading session. The S&P 500 index extends its short-term consolidation despite trade war, interest rate hikes fears. So, is medium-term bullish case valid again?
Stocks extended their short-term losses on Wednesday, as they retraced most of last week's Friday's rally. The broad stock market failed to continue its rebound from February 9 low despite technology stocks reaching new record highs.
Stocks rallied on Friday, as investors reacted to better-than-expected monthly Nonfarm Payrolls number release. The broad stock market retraced its late February move down, while technology stocks reached new record highs.
Wednesday's trading session was overall bullish, as the main stock market indexes closed between -0.3% and +0.3% vs. their Tuesday's closing prices following much lower opening in reaction to Gary Cohn's resignation's news.
The 1.1% surge in the S&P 500, the 336 points rally in the Dow Jones Industrial Average and the strong bounce in European markets on Monday are hard to justify after President Trump announced plans to slap tariffs on steel and aluminum imports last week
The main U.S. stock market indexes were mixed between -0.3% and +1.1% vs. their Thursday's closing prices on Friday, following lower opening of the trading session and an intraday bounce off support levels.