Afternoon Note
The market rally ran out of steam right on cue, and now the question is, can the gains hold for the remainder of the session?
The good news is, breadth is much better, and money is rotating out of Consumer Staples and Real Estate, which have been safe havens.
Still, there is no denying the optimistic nature of the action today. Interestingly, the Financial sector is the strongest, led by small brokerage and bank companies. Communication Services are firm, in part to Amazon (AMZN), but also getting a solid boost from Twitter (TWTR), which had a wild weekend removing voices from its platform.
Meanwhile, Apple (AAPL) began the session higher, but is now lower, as investors grapple with a class action lawsuit that observers are saying looks like the Supreme Court will allow to proceed.
Some steam came out of the market after the Dallas Fed report, which continues to expand; albeit, at a much slower pace. By the same token, prices paid were lower, while prices received were higher.
+0.78% |
||
+1.38% |
||
+1.23% |
||
-0.15% |
||
+1.10% |
||
+1.69% |
||
+0.40% |
||
+0.03% |
||
+0.68% |
||
-0.21% |
||
+0.80% |
||
+0.07% |
This is a good test of the market and certainly the downside bias that has most experts advocating selling rallies.
Buy Signal?
There are a lot of unknowns clouding the investing landscape, but for those watching the market day to day, you want to see a session where big gains are erased, and the market finds a way to rally again and takeout the earlier high point.
For the Dow, that would mean closing above 24,673.
Tweet |
2/15/2019 1:34 PM | Bearing Fruit |
2/15/2019 9:40 AM | Just a Glitch |
2/14/2019 1:34 PM | Financial Missteps |
2/14/2019 9:41 AM | Happy Valentine’s - Love That Spending |
2/13/2019 1:22 PM | Leading Role |
2/13/2019 9:21 AM | Pros Hate Rally (why you should love it)? |
2/12/2019 1:03 PM | Headwinds & Tailwinds |
2/12/2019 9:45 AM | Potential Border Deal |
2/11/2019 12:27 PM | Meandering Market |
2/11/2019 7:22 AM | Fed’s New Toolbox |
2/8/2019 1:18 PM | Barbie is Back |
2/8/2019 9:28 AM | Key Resistance |
2/7/2019 1:28 PM | Face to Face |
2/7/2019 9:30 AM | Consumers Carry the Load |
2/6/2019 1:17 PM | Technology Luring Investors |
2/6/2019 9:29 AM | Idling Optimism |
2/5/2019 1:20 PM | State of the Union |
2/5/2019 9:30 AM | From High-Flyers to Spruce Goose |
2/4/2019 12:36 PM | Rocket Ship |
2/4/2019 8:59 AM | A Super Bowl to Forget |
2/1/2019 1:38 PM | Jobs Report |
2/1/2019 9:43 AM | A January to Remember |
1/31/2019 1:33 PM | Bright Spot in Housing |
1/31/2019 9:40 AM | Different Kind of Accommodation |
1/30/2019 1:40 PM | Anxiously Awaiting Fed |
Complete commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|