Initially, the market resumed its decline from yesterday’s closing session due to the bleak prospect of Congress passing a pandemic stimulus package to offset current economic weakness. However…
Hopes of a stimulus jumpstarted stocks from yesterday’s losses but were dashed once it became apparent that its passage faces opposition from both sides of the ailse, albeit for different reasons. With Senate GOP leader McConnell…
It was a classic crossover as bulls got lulled into a consistent rhythm of an intraday lateral trend and suddenly tripped on the crossover headfake as smart money used the recent rally to sell into strength while the election draws near.
New 3-day lows have a high probability for continuation patterns but such was not the case today as stocks rallied to recoup most or all of their losses. This time it looks like bears got spooked instead of bulls.