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  • David 01 June 2015

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    Anonymous L77eD5uo
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    The S&P 500 traded within a narrow range for most of the week after a sharp sell-off on Tuesday, while the Dow Jones Industrial Average fell to a new weekly low on Friday accompanied by heavy trading volume. The author maintains a bearish outlook on the near-term stock market trend given last week's break below a key level. Prices have yet to break down further but no meaningful rallies occurred later in the week when opportunities arose. For crude oil, trading was heavy on Friday but prices held within the range formed in mid-April, with further movement on Monday to provide insight into whether the market remains oversold.

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    Stock market analysis

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    The S&P 500 traded within a narrow range for most of the week after a sharp sell-off on Tuesday, while the Dow Jones Industrial Average fell to a new weekly low on Friday accompanied by heavy trading volume. The author maintains a bearish outlook on the near-term stock market trend given last week's break below a key level. Prices have yet to break down further but no meaningful rallies occurred later in the week when opportunities arose. For crude oil, trading was heavy on Friday but prices held within the range formed in mid-April, with further movement on Monday to provide insight into whether the market remains oversold.

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    12 просмотров1 страница

    David 01 June 2015

    Загружено:

    Anonymous L77eD5uo
    The S&P 500 traded within a narrow range for most of the week after a sharp sell-off on Tuesday, while the Dow Jones Industrial Average fell to a new weekly low on Friday accompanied by heavy trading volume. The author maintains a bearish outlook on the near-term stock market trend given last week's break below a key level. Prices have yet to break down further but no meaningful rallies occurred later in the week when opportunities arose. For crude oil, trading was heavy on Friday but prices held within the range formed in mid-April, with further movement on Monday to provide insight into whether the market remains oversold.

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    © All Rights Reserved
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    Отметить как неприемлемый контент
    из 1

    THE STOCK MARKET UPDATE

    May 31, 2015

    David H. Weis

    After Tuesdays sharp sell-off, the S&P traded the rest of the week within that days
    range. The weaker DJIA fell to a new low for the week on Friday and was accompanied
    by its third heaviest volume of the year. Fridays volume in the S&P exceeded Tuesdays,
    but prices have not broken down yet. Because of last weeks sell-off below 2112.25,
    I continue to view the near-term trend as bearish. The market had two good chances to
    move higher after the firm closes on Wednesday and Thursday and again there was no
    follow through. I expect prices to move lower.
    July crude oil and USO held Friday in the area between the high of April 7 and the low
    from which prices lifted off on April 15. I think the market was too short which led to
    Fridays fast turnaround. The amount of upward progress tomorrow will be telling.

    www.WeisOnWyckoff.com

    dhw@weisonwyckoff.com

    Tel 617.489.9155

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