8-13-24 Retesting Resistance | Before the Bell
Monday's markets broke above the 100-DMA and re-tested intraday. A weak test, but a positive for the markets, completely closing Monday's sell-off. This sets up the market for a move upward to the 20-DMA (which has now crossed below the 50-DMA), which will be key resistance for the markets' first attempt at a re-test. Economic date to be released this week could temper markets' mood. For now, sentiment is positive, as markets recover from previous lows. Meanwhile, interest rates have begun a bit of retracement, and a hotter PPI report today could push rates up into the 4% range. We expect bond prices to move down as inflation reports come in hotter than expected. This is a good time to tend to your portfolio, reducing risk and raising cash.
Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO
Produced by Brent Clanton, Executive Producer
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