Today’s day trading left us with clarity, but a cause for a pause…
The bears unleashed more supply on the market in the high-beta stocks. AAPL, UA and FB were the main targets of the selling.
Once we get past that group, the main stock market averages ended neutral. We can expect a day or two of consolidation and the the selling to resume later in the week.
The financials were hammered on the open, Goldman Sachs GS especially, but gained it’s footing to close near major support.
Bullish stock traders are in need of CPR about now. The easy-peasy days of buy every dip are gone.
Stock Trading Recap 9-29-15 | Video
Goldman Sachs Chart
End of Day S&P 500 Map 9.29.15
SPY End of Day Chart 9.29.15