Friend I hope you can join us
Date: Tonight, Tuesday July 26, 2022 Time: 8:00 PM Est. Friend, I hope you can join us
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Markets gapped down between one and two-thirds of a percent at the open Tuesday. All 3 major indices then followed through by selling off until the lows were hit about noon. From that point, only the DIA has recovered a little with the SPY and QQQ continuing to bob along the lows. However, from 1:30 pm on, all 3 sold off again to drive toward new lows the rest of the afternoon (with 30 minutes left). As has been the case for weeks, the volume is very light. 8 of the 10 sectors are in the red, with Consumer Cyclical and Technology taking by far the worst hit. Healthcare and Utilities sectors have managed to stay green so far. At this point, all 3 major indices are printing gap-down, black-bodied candles. However, QQQ has clearly given up the T-line as support while SPY is still testing, and DIA has yet to reach that much pullback. So, it looks like Mr. Market is betting on more downside ahead of tomorrow's Fed announcement. | |
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