Financial strategist Mark McMillan talks about the State of the Market and what’s going on with the Moving Averages.
“The major index ETFs opened significantly lower and, after a half-hearted move modestly higher in the first ten minutes, gave up all pretense at a rally and raced toward a bottom, that wouldn’t be defined until the close. All the major averages closed at or near their lows for the day, as did the Russell-2000, the Semiconductor Index (SOX 312.53 -15.22), and the Diversified Bank Index (KBE) which broke down below its 50-Day Moving Average for the first time this year. The Regional Bank Index (KRE) differed from the other indexes in that it attempted to rally and recover after diving for the first half hour of trading. The recovery was refused as it climbed up to its lower opening price and then resumed a decline…”
To continue reading this post and to read more of Mark McMillan’s Special Situations, click here.
About Mark McMillan:
Mark McMillan entered the world of finance to solve the problem of why and more importantly when the markets will go up and down. He developed a behavioral model to understand what is really happening in the markets and uses it to time the markets. He also uses fundamental research to determine valuations for companies. He combines the behavioral and value strategies along with macro-economic analysis to build a portfolio with both long term and tactical positions.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
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