Our call of the day says investors need to get ready for a market pullback, but that may open to an even bigger march higher.
Can the S&P 500 SPX bounce back after breaking a four-session win streak? That’s what some are wondering as a new trading stretch begins.
Enter our call of the day from Ed Yardeni, founder and president of Yardeni Research. “The S&P 500 is hot. The Nasdaq is even hotter. The mounting concern is that both might be getting too hot, resulting in a stock market meltup that could set the stage for a meltdown,” he tells clients in a note. The S&P 500 pushed above its 4511 daily top Bollinger Band on July 14, while the daily relative strength index is also signalling “severely overbought technical conditions,” said Kobeissi.
Tom expects the S&P 500 will initially correct toward 3,950 to 4,100. “It is within this range that I find it most appealing to contemplate establishing positions and sizing long trades,” he said.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Police carry out drug bust at boxing match with 500 attendees in southwest HoustonPolice conducted a drug bust on Friday during a boxing match that was attended by about 500 people in southwest Houston.
Leer más »
Mexico intercepts over 500 migrants in two daysMexican authorities on Sunday said they intercepted over 500 migrants in two days in the eastern state of Veracruz as authorities crack down on the transportation of migrants toward the United States in unsafe conditions.
Leer más »
Asian Stock Market: Downbeat China data, S&P500 Futures prod optimistsRisk appetite remains sour in the Asia-Pacific zone during early Monday as China data confirms a slowdown in the post-COVID recovery of the region’s b
Leer más »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, EUR/USD, GBP/USD,The difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week
Leer más »
Stocks are riding a wave of optimism as U.S. inflation recedes, but there are dangers lurkingSome bulls expect an improved economic outlook to send the S&P 500 to an all-time high later this year, but there are dangers lurking.
Leer más »