Pre-Open Market Comments – Monday

Last Thursday the market looked poised to break through the 200-day MA on the heels of a positive reaction to TSLA earnings. Since then, the S&P 500 has shed about 300 points. The selling pressure is heavy and it is coming during a period when we would expect to see market support. Earnings season typically attracts buyers and the bid is fairly strong. When this fails to materialize it is a red flag.

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