Logo

How to make it, spend it, and invest it

28 Mar 2018

Flattening

Download
Post by MoneyRadio Staff

…Stocks struggle to bounce off long-term support. Amazon under attack. Tesla’s debt problem. The bond market’s yield curve problem. Financial Review by Sinclair Noe for 03-28-2018 DOW – 9 = 23,848 SPX – 7 = 2605 NAS – 59 = 6949 RUT – 0.54 = 1513 10 Y – .01 = 2.78% OIL – .60 = 64.65 GOLD – 20.10 = 1325.40   Let’s start with the good news. The S&P 500 managed to close above its 200-day moving average. That support level has held for four straight days. The 200-day moving average stand at 2588 – just 17 points shy of today’s close. Any movement below the long-term trend line would trigger selling, and it could get ugly, fast. There is a good chance the S&P will continue to hover just above support heading into the end of the quarter. Next week, the calendar flips to April. The first three weeks of April are a popular time for companies to preannounce their earnings results and given the number of issues investors are looking for clarity on — including the impact from the recently passed tax bill, the prospect of protectionist trade policies and whether management teams are seeing any sign of inflation or impact from higher interest rates — such announcements could prove pivotal for traders. The technology sector, which has recently been in focus due to the massive swings it has seen, could be particularly susceptible to volatility. About one-third of April preannouncements are done by companies in …

The post Flattening appeared first on Eat the Bankers.com.

Source: Financial Review
{$excerpt:n}

Tags: