Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Philstockworld (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Monday Market Movement – Wasted Spring

% of readers think this story is Fact. Add your two cents.


Nowhere for 3 months

That’s where we’ve gone with Q2 all but completed and that’s a shame when we were just kissing all-time highs a couple of weeks ago but it’s all evaporated since then though it has not been bad for our portfolios (See Friday’s Reviews) – as we were pretty skeptical of the rally.  We didn’t get more bearish as we think 33,000 should hold up on the Dow for at least a bounce and, falling from 35,000 is a 2,000-point drop so we expect 400-point bounces to 33,400 (weak) and 33,800 (strong).  If we fail to take back and hold 33,800, THEN we may have a serious problem but the Futures are already giving us a weak bounce on pretty much zero volume (so meaningless).

The S&P 500 is still up 4% from March’s close and that’s more meaningful than the Dow.   The Nasdaq was at 13,300 and now 14,100 so 800 points is 6% higher than we were on April Fools Day while the Russell is actually a bit lower than it was.  So mixed signals from the majors and mixed signals in other Global Markets are not what you expect from a record-high market yet, so far, no sell-off has gone unrebounded – we’ll just have to keep our eye on the data to figure out what’s coming next.

While most people are expecting a strong 2nd half rebound in the economy (Q1 was 6.4% better than last year), 5% of that is inflation and strains are already showing on the other 1.4%.  Case in point: American Airlines (AAL) cancelled about 120 flights on Saturday and 176 on Sunday (about 6% of its mainline operation that day). While some were called off a few days in advance, about half of those were because of “unavailable flight crews.”   

“The bad weather, combined with the labor shortages some of our vendors are contending with and the incredibly quick ramp up of customer demand, has led us to build in additional resilience and certainty to our operation by adjusting a fraction of our scheduled flying through mid-July,” American Airlines spokeswoman Sarah Jantz said in a statement. 

There are parts shortages (chips and other items) as well as the supply chains are still nowhere near back to normal but labor is a huge issue

Provided courtesy of Phil’s Stock World.

To read the rest of this article now, along with Phil’s live intra-day comments, live trading ideas, Phil’s market calls, additional member comments, and other members-only features – Come to the winning side at Phil’s Stock World by clicking here.

To sign-up for a free trial membership, click here.



Source: https://www.philstockworld.com/2021/06/21/monday-market-movement-wasted-spring/?utm_source=beforeitsnews&utm_medium=feed&utm_campaign=psw-feeds&utm_content=article-link


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.