Daily Report : Weekly Wrap for Oct 29 - Rally Broadens Out, Brazil Reaches Historic Oversold Levels
This week, we saw the rally in stocks broaden out. The Advance/Decline Line for the S&P 500 and then the broader NYSE both hit record highs. That tends to preclude large, sustained drawdowns. Seasonality in stocks and sectors is very positive heading into year-end. Brazilian stocks have been pounded and breadth is nearing historic levels of oversold.
Sorry, this content is restricted to SentimenTrader members.
To read this post, please login to your account, sign up for our trading solutions or start a 30-day free trial toLogin →