The stock market comeback is another 'failure' as chart analysts grow worried

Stocks posted losses on Tuesday as weak manufacturing data rocked the market, and Ned Davis Research's Tim Hayes argues that based on a number of technical indicators breaking down, there could be more losses ahead.

The fourth quarter got off to a rocky start as recession fears hit stocks, and technical analysts are warning that there could be more downside ahead. "If the outlook was turning bullish for equities, we would see the major benchmarks breaking to record highs with decisive and broad-based confirmation from breadth indicators...We would see yield curves steepening," Hayes wrote in a note to clients on Tuesday. He believes that all of these factors are "a reflection of waning confidence in the macro environment globally."

Hayes argues that the most recent rally has been uneven in nature, which could spell trouble ahead. He noted that not only have U.S. indices failed to regain July highs, but outperformance in large-cap stocks is masking signs of weakness in other areas of the global stock market.and other cap-weighted indices, underlying deterioration has been reflected by the equal-weighted ACWI," he wrote, calling this divergence a sign of "mounting economic pessimism.

Do You Want To Create A Stunning Smoke Logo Animation Intro Video In $5? Visit My Portfolio: Please Contact Me: NZLvCAN にじさんじMF FeelSpecial1stWin 有吉の壁 ギルガメッシュ FelizMiercoles logointro video YouTube Fiverr

The only direction now is down.

Chart analysis is just a shadow boxing. Winning is dangerous as it leads to more and higher bets. Losing is addictive till everything lost!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Now we know the stock market won’t care if Trump falls'We’re seeing the clearest signs yet that markets may not have Trump to kick around for very long — and they don’t care much.' -- TimMullaney timmullaney Really. timmullaney The rich will pull every penny out of the market because they will be taxed up the butt.
Source: MarketWatch - 🏆 3. / 97 Read more »

A ‘jinx month’ for the stock market is about to get under way — that’s very bad news for small-cap investorsSeptember has shaped up to be an upbeat month for the stock market despite a number of scares, including an impeachment inquiry and a rip-roaring IPO market...
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks just delivered a reminder about October volatility as Dow, S&P 500 wipe out third-quarter gainsThis October offers ‘more than its fair share’ of market worries: Wells Fargo CNBC SquawkCNBC 247WallSt Uh Oh... 😳 Two for two so far this month
Source: MarketWatch - 🏆 3. / 97 Read more »

5 things to know before the stock market opens WednesdayU.S. stock futures point to a sharp drop at Wednesday's open on Wall Street, which would add to Tuesday's plunge. The number one thing to know is The crash is coming, or correction rather, the one that should have been felt back in 09 without QE. Blame trumps economic policies. The spinmasters will blame anything but the plutocratic tax cuts, merica first nonsense.
Source: CNBC - 🏆 12. / 72 Read more »