The October Market Breakdown Is Still Valid

By Lance Roberts | November 9, 2018
, The October Market Breakdown Is Still Valid

After plunging for most of October, the U.S. stock market rebounded sharply in the last two weeks in anticipation of the U.S. mid-term elections. Though the market soared the day after the election, the rally petered out on Thursday and Friday. This means that the breakdown from the important three-year old uptrend line is still valid. The fact that the market was unable to close above this level on the weekly chart after testing it is quite concerning and may foreshadow further weakness ahead. 

, The October Market Breakdown Is Still Valid

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Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube
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2018/11/09
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