A few rays of sunlight penetrated the market yesterday, all of the large indexes seeing new demand. The attempt to get out of the deep pit that had been dug was led by tech stocks. Tech companies got their act together and helped the 3 large Wall Street indexes close in positive territory, rightfully noteworthy given the market’s unwavering obsession with the developing trade war. Financial stocks also recorded a comeback, contributing to the positive trading day after having been torn asunder over the last 2 trading weeks. Day trading basics for beginners and experts alike always hone in on the potential for a comeback. Usually, the saying goes, “What goes up most come down,” but of late, banks have been hard hit, falling session after session. Trading online courses have placed financial shares in the limelight and there’s little more encouraging for a bank than passing its stress test, in other words receiving a stamp of approval from the big honcho that your business is well-run, healthy, and solvent.
Each of the large indexes followed a similar trading pattern on Thursday: a recovery from a week opening marked by selling pressure, only to see the market step back from the daily high leading up to the closing bell. Stocks continue to be trapped in a whirlpool of uncertainty. Despite the White House’s efforts to soften limitations on foreign companies investing in the U.S., the market remains worried about a trade war, and utterly baffled by the erratic nature of the Trump administration. Trading live online has certainly been full of flare, dramatic as ever.
Friday: Stocks are entering today’s trading deep in the red on the week, now for the second consecutive week. The NASDAQ has so far recorded weekly declines of 2.5%, while the S&P 500 has traded off 1.5% on the week.
The way things seem now, we’re likely to see another rally today, after the news from the Fed about banks’ stress tests, which were released late in the day yesterday. Financial stocks were in demand after closing yesterday, many banks – after passing the Fed’s stress tests –receiving approval to up their shareholder dividends and increase their open market stock buybacks. If the market can rally without bank stocks taking the lead, imagine how far it can go with banks behind the steering wheel. Day trading online courses have been honing in on the rotation from one sector to the next, banks having been clobbered of late.
In Summary: A lot could happen before the market opens today, but the positive stress test results will only serve as a boost to the market. Furthermore, we can expect to see the “window dressing” effect given the fact that the end of the quarter is approaching. We expect the momentum stocks that performed strongly over the last quarter to see demand and trade in positive territory today. The best day trading course, though, can only give insight into what is likely to happen, so keep your finger on the pulse; Trump is still dominating headlines!
Have a great trading day!
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