Stock Market Weakness Aligns With A Deteriorated Earnings Picture

Was today's stock consolidation move overdue? The S&P 500 or SPX is currently overbought with the RSI being at 82. Nathan Peterson says that traders should be aware that a mean-reverting counter-trend move can happen at any time. Next, Jeffrey Kleintop adds that one challenge to the stock market rally is that fourth quarter earnings estimates keep falling.

Market On Close

20 Dec 2023

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