Overseas Markets Are Weak

September 1, 2022
Author: Peter Stolcers, Founder of OneOption

The backdrop is bearish this morning. Favor the down trend and look for shorts.

PRE-OPEN MARKET COMMENTS THURSDAY – The selling pressure that started with last Friday’s Fed speak in Jackson Hole is gaining traction. The S&P 500 has broken the 100-day MA and the 50-day MA in the last week and the futures contract is down 30 points before the open. Global markets were down on negative economic releases and this is likely to be another soft day as we prepare for the Unemployment Report tomorrow.

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