|Day's Range||11,696.58 - 11,939.04|
|52 Week Range||11,696.58 - 13,637.02|
MKM Partners' JC O'Hara argues the "Hindenburg Omen," an indicator that sparks fears of an impending market crash, could be wrong this time. Many of the New York Stock Exchange issues making new 52-week lows are assets that track international stocks, which have been taking a beating lately because of the trade war. "We do note that the Hindenburg Omens have appeared near many market tops, but not every Omen turns into a market top," O'Hara says.
The Zacks Analyst Blog Highlights: Korn/Ferry International, Cypress Semiconductor, SkyWest, eXp World Holdings and Advance Auto Parts
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.
All it takes is a peek under the market’s hood to see several warning signs cropping up for stocks. Specifically, three measures of breadth, including the number of stocks advancing relative to the number declining — a way to take the market’s temperature — have been experiencing some meaningful cracks recently.
The Nasdaq commanded the upside again and growth stocks showed strong moves on Thursday. The NYSE composite edged slightly lower and fell for a third day in a row.
"There's still a lot more positives which makes us think maybe this kind of a surprise summer rally can continue if we get a little bit of volatility even in the usually tricky month of June," LPL's senior market strategist told CNBC's " Trading Nation " on Thursday. In the past decade, the S&P 500 has fallen on average by more than 1 percent during the month. "We recently had new highs on the Russell 2000, [but] the S&P 500 was still 5 percent away from an all-time high.
But gains for the major stock indexes faded Monday morning, but it didn't take long for buyers to back as indexes were near session highs in afternoon trading.