The popular averages closed to the downside on Tuesday. Home prices rose in August (good, I bought in July.) Consumer confidence has pulled back this month (election may be a factor.) Meanwhile the price of crude oil fell while that for gold rose on Tuesday.

   Above is my 3-month chart of the S&P 500. The big jump following the Brexit scare in late June led to a more gentle rise beginning in mid-July resulting in several SPY records. Then came the huge drop on September 9 through the 50-day moving average amid heavy trading volume. This resulted in a big gap, i.e. the session’s high was significantly lower than the previous session’s low. The large jump in the VIX (volatility index) appeared to be a sign of panic. The sharp fall through the 50-day MA would not ordinarily be seen as a good sign.

   The strong bounce on September 12 touched the SPY’s 50-day moving average but failed to fill the gap. Since then there has been a series of sharp moves in both directions creating a couple of smaller gaps. The SPY tickled its 50-day MA during several sessions in recent weeks without closing above. That barrier will have to be clearly breached before I can consider repainting any of my outlook arrows green.

Updated following  each market day

Tell your friends

Market Outlook

3 Months

1 Month

1 Week

         Stock Holdings

CAA  NVDA  SCTY  TSLA                                        

NOTE: Refresh/Reload the webpage, if outdated graphics appear.

Click for the Tesla Website

© Curt Renz

  Stock Market Update

Buy Gold And Silver Coins Online

DISCLAIMER: Our commentaries are provided as general information and not investment recommendations. You are responsible for your own investment decisions. Our opinions are based on historical research and data believed to be reliable. There is no guarantee that results will be profitable. We are not responsible for errors or omissions. We may hold positions in vehicles that are mentioned.

120x90 Investing Club

Click the Coin to see   our Financial Book   Recommendations