Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Are We Headed For Volatile Swings Across The Board?

By Gorilla Trades. Originally published at ValueWalk.

Volatile Swings impact on eps concerned stock prices HYG ETF day trading strategies Tactile Systems Technology Chris Brown Aristides CAC 40 Index: Investing in French multinationals

Commenting on the potential for volatile swings across the board and today’s trading, Gorilla Trades strategist Ken Berman said:


Q1 2020 hedge fund letters, conferences and more

Volatile Swings Inbound

The major indices are all trading higher at midday, despite a negative start to the session and stocks are on track to finish higher for the second day in a row. Since the second quarter is ending this afternoon, we could be in for volatile swings across the board, especially in light of the unprecedented moves in some of the key sectors. In economic news, the CB consumer confidence number was much better-than-expected, getting close to the 100 level, but the Chicago PMI missed expectations by a wide margin, as the key measures continue to print extreme readings amid the reopening push.

The Chinese manufacturing and services PMIs were in focus overnight, and both indicators came in slightly above expectations, signaling growth in the key sectors. Risk assets spent most of the overnight session in the red, despite the positive surprises, as the global COVID-19 situation continues to weigh on investor sentiment. Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin are set to testify before the House Financial Committee, and according to their prepared remarks, they will reiterate the need for further stimulus, which could support equities in the afternoon.

Market Wrap

Dow: 25,657, + 61 or 0.2%

S&P 500: 3,076, + 23 or 0.8%

Nasdaq: 9,987, + 113 or 1.1%

Russell 2000: 1,430, + 9 or 0.6%

Market breadth has been relatively with this morning, as small-caps opened deep in the red, with decliners outnumbering advancing issues by a 3-to-2 ratio on the NYSE. Only 4 stocks hit new 52-week lows on the NYSE and the Nasdaq, while 38 stocks hit new 52-week highs. The major indices have been trading above their daily VWAPs (Volume-Weighted Average Price) for most of the morning session, pointing to intraday buying pressure. Tech stocks and the real estate sector have been leading the way higher in early trading, while materials, utilities, and financial have also been showing strength, but industrials and energy-related issues were hurt by the weak Chicago PMI, so the afternoon session could see active trading. Stay tuned!

The post Are We Headed For Volatile Swings Across The Board? appeared first on ValueWalk.

Sign up for ValueWalk’s free newsletter here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!