Waiting for Detail – Private Wealth Advisors

Monday, March 04, 2019

Waiting for Detail

by Marty Mazorra CFP®, ChFC®

Founder & Co-Chief Investment Officer

The S&P’s down 32 points as I type, the Dow’s off roughly 360; volume’s a little below average for this time of day (suggesting there’s no panic in this morning’s action). Early on we saw both indices nicely higher on news that a trade deal is near.

Per today’s chart (click to enlarge), this morning’s rally failed, now for the fourth time, right at the ceiling established last fall:

At this point — while there’s indeed stuff to worry about — we can probably attribute this morning’s selloff to simply technical phenomena; bears pouncing at previously insurmountable resistance, bulls waiting for detail/clarity on a trade deal.

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Marty Mazorra CFP®, ChFC®

Founder & Co-CIO

is the author of "Making Lemonade: A Bright View on Investing, on Financial Markets and on the Economy" and "Leaving Liberty?: Essays on Politics and Free Market Thinking".

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