The two major events today that seemed to affect markets were comments from Mario Draghi of the ECB and a rise in the price of oil.
These two events should have worked contradictory to one another and did to some extent, but in general the market action on Thursday was all sideways with a distinct lack of bullishness from investors.
S&P Index Close
The S&P index had a weak day that ended down 4.86 points closing at 2181.30.
Dow Jones Index Close
The Dow Jones lost 46.23 points to close at 18,479.91 points.
NASDAQ Index Close
The NASDAQ lost 24.44 points to close at 5,259.48.
Stock Market Outlook for Tomorrow – Sep 9 2016
Today’s stock market outlook is condensed as I am in the final stage of the new website.
There are however no actual changes in the market technically.
The sideways action continues and while everything continues to point to stocks breaking out higher from the current sideways pattern, this week should have seen better action. It hasn’t and that is discouraging.
Friday sees no change with weakness but stocks still holding a slight bias to the upside.
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