Could This Be The Retest?

The stock market is down again today. This could be our third daily loss in a row. That hasn’t happened since early March.

Is this the beginning of the retest? Perhaps. The S&P 500 isn’t far from falling below its 50-day moving average which is a key technical indicator.

Outside of earnings, the big news this week will be the April jobs report due out on Friday. The numbers will be terrible. The airline sector is taking a tumble today after Warren Buffett said he sold his airline stocks.

We have one earnings due after the close, from Trex (TREX). Wall Street expects 61 cents per share.

Posted by on May 4th, 2020 at 10:42 am


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