The S&P 500 has pulled back early on Tuesday, but continues to see buyers on dips, as we are looking to work our way through earnings.
Top Regulated Brokers
S&P 500
The S&P 500 has pulled back just a touch during the early part of the trading session on Tuesday, but it is trying to recover, and it's worth noting that there's a little bit of a trend line that we are still trying to create in an ascending triangle.
Interest rates have been dropping, so that of course helps, but overall, you have to ask questions about whether or not there's any real momentum. And I think that's a big issue right now, mainly because a lot of people feel held hostage to the noise in the Middle East. This constant start and stop certainly has a major influence on how things play out.
Market Holds Steady Amid Earnings and Middle East Headlines
Ultimately, the S&P 500 also has to deal with the fact that we are in the midst of earnings season. So, we are just in a choppy and noisy time, to say the least. Ultimately, this is a market that I think continues to be one that you have to be somewhat nimble in. I recognize that traders will probably continue to look for the upside, but it's also worth noting that it is going to be a difficult situation from time to time as we try to determine whether or not traders will get positive news coming out of the Middle East that may drive rates lower, that helps, or if we continue to see ourselves locked in a stalemate.
Ironically, while the war would have normally caused a lot of chaos over the last couple of weeks, even though we've seen a bit of a pullback, we are somewhat holding steady here, so that does give me hope for the future.