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26 Mar 2015
Stocks retreat for fourth day; moving towards consolidation
FXStreet (Guatemala) - U.S. stocks started out well but finished up below the highs from 2,067 in the case of the S&P 500 and 17,758 in the Dow. The stocks were closing lower for a fourth consecutive trading day.
However, in the S&P 500, this held above the 100-day moving average at around 2,040, giving the bulls some peace of mind. Meanwhile, the markets are volatile, but across the stocks, they are perhaps moving in to consolidation ahead of earning season. The market is data dependant and today with the poor durable goods, stocks were hurting. However, the flip side to this is stocks can also rally on news that would offset the idea of a rate hike any time soon for the Fed. But with the number of good data besides this disappointment of late, brings decent sentiment for next weeks jobs numbers from the States and that may be the next catalyst for further declines in the stocks.
However, in the S&P 500, this held above the 100-day moving average at around 2,040, giving the bulls some peace of mind. Meanwhile, the markets are volatile, but across the stocks, they are perhaps moving in to consolidation ahead of earning season. The market is data dependant and today with the poor durable goods, stocks were hurting. However, the flip side to this is stocks can also rally on news that would offset the idea of a rate hike any time soon for the Fed. But with the number of good data besides this disappointment of late, brings decent sentiment for next weeks jobs numbers from the States and that may be the next catalyst for further declines in the stocks.