Upcoming US Events for Today:
- Weekly Crude Inventories will be released at 10:30am.
Upcoming International Events for Today:
- German Consumer Confidence Survey for September will be released at 2:00am EST. The market expects 8.9 versus 9.0 previous.
The Markets (read entire analysis including 10 individual companies HERE)
Stocks continued to gain on Tuesday, led by shares of Energy companies as investors start to nibble at the beaten-down sector. The large cap index closed above a key psychological level at 2000, albeit on continued low volume. Volume on Monday, according to the S&P 500, was one of the lowest in years, surpassed only by the shortened sessions ahead of the Independence Day, Christmas Day, and Thanksgiving Day holidays over the past three years. The last regular trading day that didn’t precede or follow a holiday that had lower volumes than what was recorded on Monday was on March 2nd of 2011, just prior to the correction attributed to the Tsunami in Japan. A few months later it became apparent that the low volume trading environment during the first half of 2011 was part of a topping process that led to the last major correction that equity markets have realized. Despite the typical drop-off in volumes at the end of summer, often leading to equity market volatility, the level of conviction that investors have to the all-time highs appears to be low as investors show caution in putting new money to work. The only other time that the volume on the S&P 500 Index has been lower during an August trading day was on August 5th of 2008, just ahead of the plunge declines that followed though to the 2009 lows. Recent precedent of significantly low volume sessions has not been kind to the equity market over the months that followed.
…continue reading about the seasonality of 10 individual stocks, further market commentary, seniment & volume analysis HERE
