Morning Comment: Important Leadership Groups Testing Key Support (again).

  • Even though the consumer is strong, the U.S. economy is definitely slowing…and earnings growth in the U.S. is grinding to a halt. The trade war is a headwind for both of these issues.
  • The Russell 2000, the Transports and the semis have all declined over the past four trading days…and are once again testing critically important support levels on a technical basis.
  • So any further decline in these important leadership groups will be very negative on a technical basis...for the groups...AND for the broad stock market as well.
  • Therefore, we'll be watching these three groups/indexes as we move through the rest of this week...and as we move into the frequently volatile September/October time-frame.

Matthew J. Maley

Managing Director

Chief Market Strategist

Miller Tabak + Co., LLC


275 Grove St. Suite 2-400

Newton, MA 02466


Although the information contained in this report (not including disclosures contained herein) has been obtained from sources we believe to be reliable, the accuracy and completeness of such information and the opinions expressed herein cannot be guaranteed. This report is for informational purposes only and under no circumstances is it to be construed as an offer to sell, or a solicitation to buy, any security. Any recommendation contained in this report may not be appropriate for all investors. Trading options is not suitable for all investors and may involve risk of loss. Additional information is available upon request or by contacting us at Miller Tabak + Co., LLC, 200 Park Ave. Suite 1700, New York, NY 10166.

Posted to The Maley Report on Aug 28, 2019 — 8:08 AM
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