Tag Archives: May 1175 S&P call options
It’s hard to put the conclusion more simply than that. The stock market has tried valiantly to bounce off the April 23 low. So far, though, the rally hasn’t gained any real traction. There’s “no momentum.”
You can see the problem in the 10-day rate of change for the Standard & Poor’s 500 index. This momentum gauge has made a series of four declining peaks since February.
Even the greatest boxers feel it, after a couple of tough rounds in the ring. You’ve been pummeled so many times, in so many places, that the world seems a blur. Stock investors, too, are reeling right now. Despite a fairly upbeat season for corporate earnings, we’ve had enough disappointing economic news (such as today’s lackluster GDP report) to give sellers an excuse to dump equities.