FYI: Market action continues to be weak and real damage has been done technically. Selling Wednesday and Friday was particularly harsh, with an oversold rally in between. But the “buy every dip and make bears cry” mindset seems to have disappeared for the moment.
“We’ve had this massive shift in sentiment in recent months from ‘the market can do no wrong,’ to ‘the market can do no right,’” said Amanda Agati, co-chief investment strategist at PNC Financial Services Group.
The triple overhang of trade uncertainty, Fed rate increases, and slowing global growth are “causing investors to jump on any bad news, or even just mediocre news, to punish stocks,” Lance James, senior portfolio manager at RBC Global Asset Management, told MarketWatch.
Regards,
Ted
https://www.stocktrader.com/2018/10/29/weekly-market-recap-oct-28-2018/
