Stock Market Today: Reversal Sparks Near-Term Concerns

Stocks slid yesterday afternoon following the Federal Reserve’s statement on interest rates and the economy.

There really wasn’t much to read into as it was largely expected that the Fed would leave the key interest rate unchanged. The S&P 500 slid -0.75% and the Dow Jones Industrials slid -0.61%.

In today’s video, we look at key stock market indicators, why a pullback may be nearing, and sector and stock leaders and laggards. Here’s an overview:

Stocks fade from all-time highs following the Federal Reserve’s press conference.

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Long-term market breadth metrics remain constructive while near-term concerns arise.

Short-term measures begin to decline.

Stock Market Today Video – May 2, 2019

Twitter:  @DanRusso_CMT

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 in any way represent the views or opinions of any other person or entity.