The US stock market closed on the lows, and overnight, the global markets are once again being hit hard. The S&P futures are down about 15 points in pre-open trading as the market is also looking out to the monthly jobs report. The cash S&P 500 has next good support in the 1035-1050 area with the rising 200-day MA and additional support at 1000-1015. The McClellan Oscillator has reversed again to the downside after testing the zero line and is likely to reach oversold levels at -300.
Selling Pressure Picks Up
Top Pros’ Top Picks (Daily)
Subscribe to MoneyShow’s daily investment newsletter Top Pros' Top Picks and get actionable advice from our top experts, including the hottest stocks to buy and sell, ETFs and funds for short- and long-term capital appreciation, and a wide variety of dividend-paying stocks set to deliver a steady stream of safe, reliable income.
Trading Insights (Weekly)
Get an edge on the markets with our weekly trading newsletter, Trading Insights, and receive timely trade ideas covering stocks, options, futures, and more to keep you on the right side of the action. From trading basics to advanced strategies and high-probability set-ups, the insights you need from our all-star lineup of trading pros is delivered straight to your inbox.
Virtual Learning Letter (Weekly)
The stock market offers virtually any combination of long-term opportunities for growth and income, as well as short-term investments for trading gains. MoneyShow’s weekly Virtual Learning Letter showcases a variety of on-demand webcasts and video market commentary by top financial experts covering the hottest financial topics each week.