The Federal Reserve lowered the key bank rate by a quarter point on Wednesday.
Investors wanted a half point cut, so the reaction has been muted to negative. We won’t know the true effect of the move for weeks.
In today’s video, we discuss price support levels for the major stock market indexes and what key indicators are saying. We also analyze historical seasonality trends in August and September. Here’s a recap:
S&P 500 Tests the Top of Key Support Following the Fed’s Rate Decision
Short-Term Breadth Metrics Continue to Weaken
August and September Could Present a Seasonal Headwind
Stock Market Today Video – August 1, 2019
Twitter: @DanRusso_CMT
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