4 Responses

  1. MONDAY

    Trading in New York Stock Exchange-listed stocks on Monday were exhibiting panic-like-selling behavior as global stocks confronted a sharp selloff that has been attributed to rising cases of COVID-19, fueled by the delta variant of the deadly disease.

    The NYSE Arms Index, a volume weighted breadth measure that tracks the ratio of advancing stock to declining stocks over the ratio of advancing volume over declining volume, was showing a reading of 2.172 for NYSE-listed shares. Many technicians say a rise to at least 2.000 suggests panic-like selling behavior.

    The reading comes even as the Dow Jones Industrial Average was off 2% at 34,018, looking at its sharpest one-day fall since May 12; the S&P 500 index was off 1.8% at 4,251 and the Nasdaq Composite Index [COMP] was trading 1.7% lower at 14,185.

    XIA

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  2. Recent weakness in the stock market today will likely be short-lived and won’t extend into a large decline for two key reasons, Fundstrat’s Tom Lee said in a note on Monday.

    The stock market saw a steep drop to start this week, but Lee is maintaining a bullish outlook on steady bond yield spreads and a stable VIX term structure, according to the note.

    Chia

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  3. The Ackman BOOM?

    Famed investor Bill Ackman brushes off delta fears and predicts ‘massive’ economic boom.
    https://www.msn.com/en-us/money/markets/famed-investor-bill-ackman-brushes-off-delta-fears-and-predicts-massive-economic-boom/ar-AAMkggh?li=BBnb7Kz

    Dr. David E. Marcinko MBA

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  4. Dave,
    Many thanks for the “like”
    ME-P

    Like

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