while several indicators remain supportive of further pullback, return of oversold conditions on an intraday basis might help putting put a short-term floor under the market. However, the bulls must hurdle and sustain above S&P’s 2700 or market will work off oversold conditions and fall under its own weight. With that said, the longer the index stays below 2700, the more vulnerable it is to lower prices
One of the noteworthy developments in recent days has been the move in the automotive sector. The group has been under selling pressure in recent days after China said it was ready to retaliate with tariffs on around $60 billion of U.S. goods, just days after the U.S. administration revealed that Trump had spoken […]
One of the noteworthy developments in recent days has been the move in car makers. The group has been under some selling pressure in recent days after Donald Trump withdrew from the Obama-era 2015 nuclear deal reached between Iran and six major powers. The move sent gas prices higher, hurting auto sales and consumer […]
One of the noteworthy developments in recent days has been the move in automakers. The groups were under selling pressure after Donald Trump has escalated the threat of a trade war with Europe, warning that the US will slap a tax on cars made on the continent if the European Union (EU) retaliates against […]