Today’s stock market update highlights key movements in the major indices, including the Dow, S&P 500, and NASDAQ, all of which had a strong start to the month. Apple continues to be overbought, with a new bearish reversal signal emerging after a significant rally. The VIX remains on a sell signal, indicating that market volatility is still low, while bonds continue to underperform.
The update also covers commodities like gold and crude oil, which both experienced bearish moves, with crude oil testing support levels. The focus for traders is on whether the current trends will hold, as we approach a seasonally volatile period in the market. The report closes with a reminder that stock futures are slightly down ahead of the trading day.
Stephen Whiteside
TheUpTrend.com
Tuesday, October 1, 2024