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Market Commentary

Pins and Needles

By Charles Payne, CEO & Principal Analyst
5/8/2019 12:58 PM

Investors remain on pins and needles as the market trades in a narrow range as anxiety about missing a potential huge surge on positive news is countered by potential chance higher tariffs go into effect in less than 24 hours.

Source: https://www.epainassist.com/nerves/pins-and-needle-sensation

The good news this session is the S&P 500 and NASDAQ have held above their respective 50-day moving average. 

Market Taking a Stand

S&P 500

NASDAQ

50-day moving average

2,858

7,830

Session low

2,873

7,923

Market breadth is also much better today than Monday and Tuesday as advancers and up volume are edging out decliners and down volume.

I’m not sure what happens but I want to get long a couple great stocks that have pulled back with the board market before the Friday tariff deadline.  Worst case we would be down for a moment only.  If you are not a current Hotline subscriber, now is the perfect time.  Click here to get started today. 

 


 

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