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Wednesday, December 25, 2024

I Predict A Stock Market Decline For Tuesday, October 29th, 2013

Courtesy of John Nyaradi.

I predict a stock market decline for Tuesday as investors anticipate the Fed meeting Wednesday

Stocks, ETF, Daily Market Wrap, SPX, SPX Chart, NYSEARCA:DIA, NYSEARCA:SPY, NASDAQ:QQQ, NYSEARCA:IWM, NYSEARCA:USOThe Fortune Teller Speaks:

I predict a stock market decline for Tuesday as investors appear to be getting jittery over Wednesday’s Fed meeting.  Also, Apple (NASDAQ:AAPL) turned in a mediocre earnings report, which will likely not be a positive for investors trading within the NASDAQ 100.

Wall Street Beats & Jives:

Investors seem spooked by the Fed meeting on Wednesday, despite the fact that everyone is fairly certain that quantitative easing will not stop.  Apple (NASDAQ:AAPL) also disappointed investors today with its lackluster earnings report, even though the data exceeded expectations.  Tuesday also brings us a huge day of economic reports, including the Producer Price Index repot, the Core PPI report, the Retail Sales report, and the Consumer Confidence Index report, all of which will all likely have a significant impact on markets if the reports are negative.

Life is a beach and we’re playing on it:

Yesterday I was just barely correct with the S&P 500 (NYSEARCA:SPY) as the Index only rose .13%.  I was wrong with the Dow Jones Industrial Average (NYSEARCA:DIA) and the NASDAQ 100 (NASDAQ:QQQ) which lost .01% and .08% respectively.

Are stock markets driven by greed, speed and need, OR fear?

After today’s performance and the apparent “Fed Up” attitude of investors, I would say investors are currently spooked.  We are now looking at a case of “don’t fight the Fed,” and investors do not appear to be happy about it.

Totally calling it:

My five point indicator shows a three versus two for a stock market decline on Tuesday.

Bottom Line:

Stock markets will likely decline on Tuesday, as investors appear spooked over the looming Fed meeting this Wednesday.  We are now in “don’t fight the Fed” mode and markets will likely react accordingly.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

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