|Day's Range||14,046.60 - 14,110.19|
|52 Week Range||12,238.40 - 14,183.26|
The Dow Jones Industrial Average is being weighed down by broad drops across 10 of its components as investors respond to China's coronavirus news.
While a number of broader stock market indexes surge toward record highs Monday, market internals suggest investor buying is almost as calm, cool and collected as can be. The Arms Index, a volume-weighted breadth measure, for the NYSE slipped to 0.925 and for the Nasdaq eased to 0.922. The Arms tends to fall below 1.000 during broad market rallies, as volume in advancing stocks increases at a faster pace than the number of stocks that are rising. Many market watchers believe panic-like buying activity would be reflected by a drop in the Arms below 0.500. The number of advancing stocks outnumbered decliners 3.1 to 1 on the NYSE and 2.3 to 1 on the Nasdaq, while volume in stocks gaining ground outnumbered down volume 3.4 to 1 on the Big Board and 2.5 to 1 o the Nasdaq. Meanwhile, the Dow Jones Industrial Average , the S&P 500 , the Nasdaq Composite , the NYSE Composite and the Dow Jones U.S. Total Stock Market Index were all rising toward record closes.
Will the stock market rally continue following President Trump reaching a phase one trade deal with China? These three charts suggest yes.
What is the NYSE Composite Index (NYA)? By filling its open gap from 2018, the NYSE Composite Index (NYA) has reached an important technical pivot; hence, the initial rejection from the open gap fill is not a surprise. No, it can, but as with any rally, one must keep a close eye on new highs versus new lows.
Investors are often told it's impossible to time the stock market, but increasing distribution days have been seen at several market tops in the past.
In the stock market, distribution days are like wine. A glass or two is fine. It's social, it's probably good for your digestive system. But one too many will send you reeling.
The rise of the geopolitical tensions continue after a year of record highs for the markets. Yahoo Finance’s Adam Shapiro, Julie Hyman, Jared Blikre and Direxion Managing Director Sylvia Jablonski discuss the outlook for 2020.