Market Report for Jul 19 2022
A good start to Monday but that momentum turned around and started to weaken during the session after the weaker than expected NAHB Housing Market Index for July.
From a technical view on the market, it is simple. S&P 500 and Nasdaq Composite are both consolidating above support. Consolidations we want to try and avoid as they are frustrating.
So, it seems we have more standing aside to do for now in stocks.
Let’s go trade!