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Weak Treasury Auction Taketh Away What The BOJ Gave To The Stock Market, Buying On Jobless Claims

Benzinga ·  Aug 8 12:25

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Buying On Jobless Claims

Please click here for an enlarged chart ofSPDR S&P 500 ETF Trust(NYSE:SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

  • The chart shows the stock market is consolidating in the support zone.
  • Investors should carefully watch if the stock market breaks above the support zone or below the support zone.
  • The chart shows that RSI is oversold. Oversold markets tend to bounce.
  • The chart shows that the stock market was on the verge of dropping the...
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