The S&P 500 has not fallen more than 10 percent from a recent high — or fallen into a correction — since February 2016. Watch: Gundlach says no recession coming at all U.S. first quarter GDP reported its slowest pace in three years, while the Nasdaq composite closed at a fresh record Tuesday. "So far, the Nasdaq has been more right about the economy than the 10-year which I think has been rallying more on technicals." 2Q GDP has a tendency to bounce back," Gundlach said.
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Market breadth — the number of stocks advancing relative to the number of stocks falling — is now quite strong, observes Jonathan Krinsky, chief market technician at MKM Partners. Specifically, Krinsky is referring to market breadth within the Russell 3000, an index that tracks nearly all U.S. equities. One technical measure of market strength shows that the rally is on firm footing, according to one technical analyst. Though some market watchers have made the argument that a mere handful of high-performing stocks are driving the broader market rally (notably Apple, Facebook and Amazon), that doesn't mean other stocks aren't participating in the rally, Krinsky noted. And we held under that 60 percent threshold for almost two months before the market finally rolled over," he said.
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collected by :Jack Luxor
according to
Market breadth — the number of stocks advancing relative to the number of stocks falling — is now quite strong, observes Jonathan Krinsky, chief market technician at MKM Partners. Specifically, Krinsky is referring to market breadth within the Russell 3000, an index that tracks nearly all U.S. equities. One technical measure of market strength shows that the rally is on firm footing, according to one technical analyst. Though some market watchers have made the argument that a mere handful of high-performing stocks are driving the broader market rally (notably Apple, Facebook and Amazon), that doesn't mean other stocks aren't participating in the rally, Krinsky noted. And we held under that 60 percent threshold for almost two months before the market finally rolled over," he said.
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collected by :Jack Luxor
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