Stock Market Remains Volatile On Russia News, Inflationary Winds

The S&P 500 Index fell by 0.72% on Tuesday as the news flow was again dominated by Russia (and the U.S. banning Russian oil and several U.S. companies pulling out of Russia).

All four major stock market indices have strongly bearish intermediate postures (according to the Market Forecast technical indicator) heading into Wednesday’s trading session.

All four major stock market indices are also trading below their falling 30-day moving averages and ended Tuesday’s trading session with long upper shadows.

Commodities continue to trade with impressive strength; the trends within the commodity complex represent some of the strongest we’ve seen in a long time, largely due to geopolitical dislocations/sanctions.

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Interest rates are rallying once more, with the 10-Year Treasury Yield attempting to claw its way back to the 2.00% level again.

Energy remains atop the Sector Selector; Utilities made an impressive move to the 2nd place slot after a strong 2-week price rally. Energy, Utilities, and Real Estate have strongly bullish intermediate Market Forecast postures

Our trade application example featured selling an iron condor on UnitedHealth Group (UNH) due to its neutral position of being at the mid-point of its 3-month range and sitting directly on its 30 day moving average.

Get market insights, stock trading ideas, and educational instruction over at the Market Scholars website.

Stock Market Outlook Video (for March 9) – News and Analysis

Twitter:  @BrandonVanZee and @MarketScholars

The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.