The S&P 500 Index (^GSPC)
is battling another round of broad selling which is pushing the
benchmark’s 120-Day Moving Average into worrisome territory for David
Nelson, Chief Strategist, at Belpointe. “Its an important line in the
sand and a close below that is going to trigger a lot of selling.”
For the month of October, the S&P 500 is in the red and a fresh string of profit warnings from the likes of SodaStream (SODA) and Samsung may mean more selling, according to Nelson. “We are already getting quite a number of warnings, some of them pretty significant, it is skittish, it's nervous, I’m nervous, I think investors will be raising cash levels here.”
http://finance.yahoo.com/news/a-stock-market-on-the-edge---s-p-500-flashes-warning-signal-185714066.html
For the month of October, the S&P 500 is in the red and a fresh string of profit warnings from the likes of SodaStream (SODA) and Samsung may mean more selling, according to Nelson. “We are already getting quite a number of warnings, some of them pretty significant, it is skittish, it's nervous, I’m nervous, I think investors will be raising cash levels here.”
http://finance.yahoo.com/news/a-stock-market-on-the-edge---s-p-500-flashes-warning-signal-185714066.html
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