Highlights
• Mixed messaging on the tariffs file continues
• Yesterday’s equity market action was tepid outside of the oversold Nasdaq
• U.S. debt downgrade risks mount
• We have made a few changes to the “Rosie Fund”
Key Takeaways
• Nasdaq Tests 200-Day Resistance: Yesterday’s market action was tepid outside the once deeply oversold Nasdaq Composite, which managed to close near its session high for the third straight trading day — and now confronting a key technical resistance point at the 200-day moving average. Buying power was limited in the rest of the stock market, though the S&P 500 did make a bullish move above its 200-day line on Monday — as well as closing above its January low of 5,773, which has the bulls excited.
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