U.S. stock futures traded higher this morning as Wall Street attempts to retrace its losses from Monday that pushed the S&P 500 back into bear market territory — and more in Tuesday's stock market recap.
The TLT also broke its previous low Tuesday However, it looks like the bond market wants to go back into its recent range. If that was in fact the low, it’ll be interesting to watch because the bond market and interest rates have an inverse relationship...
But I believe the majority of downside pressure is already priced into the market…
That’s because the number of Nasdaq 100 stocks trading below their 200-day moving averages is about 8%, close to where it was in 2008. Momentum levels on the Nasdaq 100 haven’t been this low in over two decades.
So if you think the market’s going to crash or bear out from here, I have some news for you… It’s just not going to happen.
In this morning’s stock market recap video, I’ll show you the four indicators telling me that markets are bottoming out… an update on volatility levels and market internals… a deep dive into the levels of the major indices… provide clues to major moves in the short term… a broad view of the global economy… and the top and bottom sectors rights now.
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