U.S. markets slumped on Tuesday following news China is threatening retaliation following the Senate’s passage of a bill expressing support for Hong Kong’s autonomy. The House will vote on the measure, which weighed on market sentiment, and could complicate trade talks with China.Mixed numbers from the Retail sector was also a drag as the 3Q earnings season continues to wind down. The major indexes easily held the first wave of support levels although volatility spiked to its highest level of the month but was able to hold a key level of resistance.The Nasdaq was down for the 1st time in 4 sessions after giving back 0.5% while trading to an intraday low of 8,468. Fresh and upper support at 8,450-8,400 was challenged but held with a close below the latter, opening up risk towards 8,350-8,300.The Russell 2000 was lower by 0.4% following the 2nd half pullback to 1,581. Current and upper support at 1,585-1,570 was breached but held with risk towards 1,560-1,545 and the 50-day moving average on a move below the latter.The S&P 500 was down for the 2nd-straight session after falling 0.4% and testing an intraday low of 3,091. Near-term and upper support at 3,100-3,075 was tripped but held with a close below the latter getting 3,050-3,025 and the 50-day moving average in focus.The Dow also declined 0.4% while bottoming at a late day low of 27,675. New and upper support at 27,750-27,500 was breached but held with a close below the latter opening up risk towards 27,250-27,000 and the 50-day moving average.Energy and Utilities paced sector leaders after rising 1.1% and 0.6%, respectively. Materials and Industrials were the leading laggards after sinking 1.3% and 0.7%, respectively.
Trade Your Way To A FORTUNEwith BioTech & Marijuana Stocks!
Let me show you my Step-by-Step BLUEPRINT that Returned 5,500% in the last 2 years!
Here are a few recent LIVE Trades: * 249% GAIN in ABBV in 4 days… * 203% GAIN in TLRY in 21 days… * 174% GAIN in LLY in 8 days… * 135% GAIN in AMGN in 18 days… * 111% GAIN in IBB in 9 days…or * 110% GAIN in CGC in 30 days…
6 trades & 982% return in only 90 days & WINS 91% of the time!Go Here My presentation reveals exactly how it all works
Canopy Growth (CGC) upgraded to Buy from Neutral at BofA/MerrillPaycom (PAYC) upgraded to Outperform from Sector Perform at RBC CapitalTradeweb Markets (TW) upgraded to Buy from Neutral at Goldman SachsBerry Petroleum (BRY) downgraded to Hold from Buy at Tudor PickeringKohl’s (KSS) downgraded to Neutral from Buy at Goldman SachsSherwin-Williams (SHW) downgraded to Hold from Buy at Edward Jones
THURSDAY’S EARNINGS ANNOUNCEMENTS Before the open: Amtech Systems (ASYS), BJ’s Wholesale Club (BJ), Entera Bio (ENTX), Golden Ocean Group (GOGL), Höegh LNG Partners (HMLP), Macy’s (M), Ship Finance International (SFL)
After the close: American Software (AMSWA), BellRing Brands (BRBR), Delta Apparel Company (DLA), Gap (GPS), i3 Verticals (IIIV), Intuit (INTU), Matthews International (MATW), Nordstrom (JWN), Ooma (OOMA), Post Holdings (POST), Pure Storage (PSTG), Ross Stores (ROST), Splunk (SPLK), Williams-Sonoma (WSM)
THURDAY’S ECONOMIC NEWSJobless Claims – 8:30amPhiladelphia Fed Business Outlook Survey – 8:30amExisting Home Sales – 10:00amLeading Indicators – 10:00am
METALS / OILGold closed at $1,474.20 an ounce, down $0.10Silver settled at $17.11 an ounce,