Stock Market Update -Sep 20
More selling this week, with the Nasdaq 100 now down around 13% from the Sep 2 highs. Looking even more like a bad September now, though we could see a relief rally next week. Possibly some of the selling could be attributed to the recent massive increase in Call Option activity leading up to the quarterly expiration on Friday! Some blame the Fed after Wednesday's meeting, though the selling really started the week prior. The charts however showed us to be in overbought RSI territory, for the first time since the prior June 8th top, so the 'caution' yellow flag was out! 'If' the current pattern plays out, we'll see further selling down to a lower support level, maybe with rallies along the way. Gold was flat, while Oil rallied. Bonds were flat. What was up this week: What was down this week: Coronavirus live updates Coronavirus maps S&P 500 March market crash V recovery ( chart ) ...Dropped again Now sol...