August 8, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Buying On Jobless Claims

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows the stock market is consolidating in the support zone.
• Investors should carefully watch if the stock market breaks above the support zone or below the support zone.
• The chart shows that RSI is oversold.  Oversold markets tend to bounce.
• The chart shows that the stock market was on the verge of dropping the day before yesterday.