Stocks could see another swoosh before the market is able to build on, or even hold, this week’s gains.

Sharing is Caring!

History Says Market Sell-Off Isn’t over and This Drop Will Be Sharper

Stocks could see another swoosh before the market is able to build on, or even hold, this week’s gains.

  • The S&P 500 is about half way back from its October lows, but it could retest that level again before rallying into the end of the year, strategists say.
  • Dow futures Wednesday morning pointed to a decline of about 100 points at the open.
  • Earnings outlooks may not sound as rosy from some multinationals impacted by tariffs.

“This is the second decline of this year of 5 percent or more and two out of every time we had more than one decline in a year, the second decline was sharper than the first,” Stovall said. The S&P 500dipped to 2,710 last week, a 7.8 percent decline from its all-time high in late September. In February, the S&P was down nearly 12 percent at its low.

“There could be a test of the lows. I’m not surprised that tech, consumer discretionary are leading the way [higher] because they led the way downward,” said Stovall. He said if there is another flush out to lows, it could come before the Nov. 6 election.

World Stock Recovery Loses Steam as European Auto Sector Takes Beating

A recovery by global stocks proved short-lived as warnings over a slowing Europe…

 

 

See also  ‘What We Did Before Just Isn’t Working’: Delta Variant Threatens to Overwhelm Russia. Previous treatments no longer effective
See also  Gerald Celente: Stock Market Crash, The Bankster’s Gang Gamble
636 views

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.