Stock Market Update Monday April 29, 2024 Stocks initially staged a modest rally, building on last week's strong performance. However, the upswing faltered after the Treasury announced a higher-than-anticipated quarterly borrowing requirement of $243 billion, exceeding expectations of around $200 billion. This news triggered a sell-off, pushing major indices into negative territory. Despite the temporary setback, the market regained its footing and finished modestly higher, close to the day's peak. The S&P 500 led the charge, registering a 0.35% gain.
Away From Stocks: Treasury yields saw a broad decline, with most dropping by a few basis points. The two-year note bucked the trend, edging slightly higher to 4.97% from 4.96%. WTI crude retreated, dipping below the $83 per barrel mark. Gold remained relatively flat, closing at $2,337 per ounce. Meanwhile, the VIX volatility index dipped below 15.
Premium subscribers held long positions upon receiving the buy signal on November 1st 2023. Majority of them subsequently exited their position when there was a sell alert. Members comfortable with shorting took advantage of the bearish conditions. Currently, our premium members are anticipating a new buy signal, which our analysis suggests is imminent.
These time pivots are known before the stock market opens at 9:30am
Tomorrow's Time Pivot's Today, However They May Change in The Morning When The Markets Open at 09:30am
Get Started Stock Market Daily News Letter+ Free Trial No Credit Card Required & 30 Days Money 💰 Back Guarantee📌
Comments