Friday, August 18, 2017

Market update (18 August 2017)

According to Thompson's Reuters, 460 of the companies represented in the S&P 500 have reported earnings with almost 74% beating expectations. This is 10% above the long term average and helps explain why the market has been so strong, at least until last week when we saw some deterioration.

There's no guarantee the market will keep falling but for sure the bears now have the technical advantage.  It's quite possible the S&P could now test its 200 day moving average, currently at 2346.

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