Monday Market Movement – Trade Progress Keeps Things Positive

2,500!

The S&P 500 took back a critical level this morning in the Futures as we're back over the 2,500 line and holding that would be a good sign to close out 2019 – despite the epic disaster that we've already endured in Q4 as we fell from 2,950 to 2,360 so 600 (ish) points down invives 120-point bounces (20% of the drop) and 2,489 was the weak bounce line we expected last week but we're not going to be very impressed until we're back over the strong bounce line at 2,600, along with the other strong bounce lines on the other indexes:

  • Dow 27,000 to 21,600 is 5,400 points so 1,080-point bounces to 22,680 (weak) and 23,760 (strong) 
  • S&P 2,950 to 2,360 is 590 points so 120-point bounces to 2,480 (weak) and 2,600 (strong) 
  • Nasdaq 7,700 to 6,160 is 1,540 points so 300-point bounces to 6,460 (weak) and 6,760 (strong) 
  • NYSE 13,200 to 10,560 is 2,640 points so 528-point bounces to 11,058 (weak) and 11,586 (strong) 
  • Russell 1,750 to 1,400 is 350 points so 70-point bounces to 1,470 (weak) and 1,540 (strong)

Despite the surge in the Futures, we haven't gained a single green box since Friday morning's Report and today is going to be a light trading day and tomorow the markets are closed so we can't take…
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