The S&P 500 just hit a level that could spark the next major decline, Canaccord's Tony Dwyer says (via TradingNation)
Canaccord Genuity's Tony Dwyer says the market needs to test the 'panic low' before an 'extraordinary' rebound can unfold.. Dwyer cites human nature of fear as the likely catalyst to interrupt the latest leg higher. "Once you make a panic low, you typically have this relief rally," Dwyer said. "Unfortunately, the vast majority of time you go back down and test that low." But his forecast isn't all doom and gloom. It carries optimism, too. "You've already panicked, so down 34% at the low to say that it's going to get significantly worse is not the case," he added. "The time to be cautious was in January and February. We made the panic low. While we may test that low, it's not the time to get scared." Dwyer, a long-term bull, has warned for weeks the Read more: CNBC
TradingNation This dude has been SPOT ON WRONG !!!!! TradingNation This is precisely why this guy works at Canacord. Who’s that anyway ? TradingNation Wait ... CRYPTOCURRENCY BITCOIN DIGITALASSETS XRP on BAILOUT rally mode too ...lol Looks stronger... TradingNation Die nächste große Korrektur TradingNation I want you to get him tomorrow when we make another higher level
TradingNation I took the S&P initial low and multiplied it by 15% to get 2,650 as a sell target. In the past, drops 30% were always followed by a 15% bounce before the re-test. TradingNation Look into charts, 2008 it went down after 13% upside in November, it went another 30 % from there. Please check the charts put by elerianm this evening.
TradingNation I wonder if he’s short, is a regurgitation machine TradingNation Don't worry the corrupt FED uses extortion to push up markets so the rich are covered by your retirement funds that you will probably now never see again. TradingNation yup its goin back down TradingNation No way. It's a garden variety rally.
Indianapolis 500 moved to August 23 due to coronavirusThe 104th Indianapolis 500 was moved from May 24 to August 23 on Thursday by IndyCar and the Indianapolis Motor Speedway in the wake of the coronavirus pandemic. Organizers also moved the IndyCar Grand Prix of Indianapolis, which had been scheduled for May 9 on the road course at the Speedway, to July
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Dow opens higher but S&P 500, Nasdaq fight for traction as investors anticipate $2 trillion stimulus packageU.S. stocks indexes were trading mixed at the start of trade Wednesday, following a historic rally Tuesday, as investors digest the details of a $2 trillion...
Here's what happened to the stock market on WednesdayThe S&P 500 strung its first consecutive gains since mid-February. Oh that Crazy Bernie. The swamp at it's finest!!! What happens first- They pass the stimulus package and checks are in the mail or OJ finds the killer? The FED inflated the market so the rich can sell while retirement accounts have penalties. Those evil Republicans and Bernie
Stock Market Rally Simmers As GOP Senators And Sanders Battle Over Coronavirus Stimulus BillThe Dow was up 2% and the S&P 500 rose 1%.
Stock Market Rally Simmers As GOP Senators And Senator Bernie Sanders Battle Over Coronavirus Stimulus BillThe stock market rally simmered as GOP senators and Senator Bernie Sanders battled over the coronavirus stimulus bill by skleb1234 skleb1234 You mean bernie and 4 Republican senators sparred with the senate bill right? Like you are a news organization that reports facts right... right?