Market Lab Report – Premarket Pulse 3/23/16

By | March 23, 2016

Scalper1 News

Major averages finished roughly flat yesterday on slightly lower volume as the NASDAQ Composite approaches its 200-day moving average. The market’s resilience yesterday in the face of the terrorist attacks in Belgium speaks, in general, to the power of the quantitative easing manipulations by central banks, and also to markets that are less sensitive to this type of news which is usually small in scope with respect to stocks and economies. The markets even quickly recovered their losses that came in the 9/11 aftermath by rallying off lows for a few months, as such attacks do not attack the heart of economies. That is left up to the Fed and other central banks, political entities that they are. Indeed, the economic patient has heavily clogged arteries but the Fed keeps giving the patient morphine and band-aids. However, the market rally off the February lows has become extended and is entitled to some consolidation. We would simply advise keeping an eye out for more objective signs of a potential rally failure. The first sign of this, from a material standpoint, would be downside stops being hit in our current long ideas. Scalper1 News

Scalper1 News