By: Steve Smith
Hurricane Dorian is a perfectly apt analogy for the current stock market. We have meteorologists and technical analysts each culling data to build predictive models with a variety of scenarios.
Meanwhile, the actual underlying activity of each is one of ‘volatile stasis.’
For stocks, the S&P 500/ SPDR S&P 500 (SPY – Get Rating) is whapping back and forth with many moves in excess of 1% on a daily basis, as each new tariff tweet hits the tape. But it is essentially bound by the important 282 support and 296 resistance levels.
It seems whichever side of the box it ultimately breaks will determine the direction of not just stocks but the economy and possibly the politics of the country. Until… Continue reading at StockNews.com