Dow Jones, Nasdaq, S&P 500 weekly preview: More room for correction in October
recorded the fourth consecutive weekly drop candle after falling 0.7% last week. The index printed the lowest level since the end of May as stocks responded to another bond market selloff. index fell as much as 1.3% after testing an important daily support in the context of the 100 daily moving average.
Recent data has indicated a slowdown in U.S. consumption, and the surge in oil prices is expected to have an impact. RBC: “Net bullishness on the AAII survey, which has fallen sharply since mid August, still isn’t back down to levels that would indicate investor pessimism had gotten too extreme.”
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