The market finished lower on Tuesday, with the S&P 500 and Dow relinquishing gains in the last hour of trade while snapping 7 session winning streaks. The S&P came within striking distance of all-time closing highs last seen in February with the Nasdaq now down 3-straight sessions.The Dow tapped a late day low of 27,624 while finishing at 27,686 (-0.4%). Key support at 27,750 failed to hold with a close below this level leading to a further pullback towards 27,250.The Russell 2000 settled at 1,575 (-0.6%) with the session low hitting 1,570. Crucial resistance at 1,575 was breached but held with a close below this level leading to a retest towards 1,550.The S&P 500 tagged a low of 3,326 ahead of the closing bell while going out at 3,333 (-0.8%). Major support at 3,350 was breached and failed to hold with continued close below this level suggesting additional downside risk towards the 3,300 level.The Nasdaq tested an intraday low of 10,762 before closing at 10,782 (-1.7%). Current support at 10,750 was breached but held with a close below this level keeping weakness towards the 10,500 level in play.
Exploit a Step–by–Step BLUEPRINT in 1 Hour or LESS a Day & EARN Consistent Daily Income from the Most Predictable & Profitable Market on the Planet.
GOAL: $250 to $500 +Every SingleDay the Market is Open…Like Clockwork!
Discover this Simple, 4-Step Process, Fully Disclosed BLUEPRINT for yourself.
Click here to learn more & start using it tomorrow…
Mesa Air (MESA) upgraded to Buy from Hold at Deutsche BankJohnson Controls (JCI) upgraded to Outperform from Sector Perform at RBC CapitalOne Gas (OGS) upgraded to Overweight from Equal Weight at Wells FargoEmbraer (ERJ) downgraded to Underweight from Equal Weight at Morgan StanleyMotorola Solutions (MSI) downgraded to Hold from Buy at ArgusZynga (ZNGA) downgraded to Hold from Buy at Berenberg
TUESDAY’S EARNINGS ANNOUNCEMENTSBefore the open: Applied Industrial Technologies (AIT), Brinker International (EAT), DarioHealth (DRIO), Jumia Technologies (JMIA), Lemonade (LMND), Performance Food Group Company (FFGC), Rewalk Robotics (RWLK), Tufin (TUFN), Xpel (XPEL)
After the close: Aspen Technology (AZPN), Blue Bird (BLBD), Cisco Systems (CSCO), Fossil (FOSL), Helius Medical Technologies (HSDT), Lyft (LYFT), OTC Markets Group (OTCM), Postal Realty Trust (PSTL), SmileDirectClub (SDC), Telenav (TNAV), Village Farms International (VFF), Williams Industrial Services Group (WLNS), ZTO Express (ZTO)
WEDNESDAY’S ECONOMIC NEWSMBA Mortgage Applications – 7:00amConsumer Price Index – 8:30amTreasury Budget – 2:00pm
METALS/ OILGold closed at $1946.30 an ounce, down $93.40Silver settled at $26.05 an ounce, down $3.21Copper finished at $2.88 a pound, up $0.02Crude Oil was at $41.68 a barrel, down $0.38Bitcoin Investment Trust (GBTC) ended at $12.55, down $1.14
I hope this helps you prepare for the trading day. Make it a great one!
Todd Mitchell
Step #2: Enroll in an Advisory or Educational ProgramPremium Advisories | Featured Educational Programs
Step #3: Connect with The CommunityTrading Concepts Official Facebook Page
