October 16, 2018

Apparently, the Sky Is the Limit

The equities markets adopted a clearly bullish tone today, as most indexes rallied strongly back towards the price ranges they were at on Monday of last week. However, there is still substantial ground to go to consider this a full recovery. While pundits continue to debate why the markets declined sharply beginning October 10th, what is clear is that bargain hunters were waiting to load up on some of the better performing names, or even get into underperformers at greater discounts. Either way, we saw the SPY up over 2%, and the healthcare sector ETF XLV up over 2.5% towards the end of the session. Here’s a recap of what happened.

about the author:

Mike Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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