The S&P 500® fell strongly today, closing down 1.34%. There were many stories affecting the negative price action today including poorly-received earnings reports and some remarks from the President towards Iran regarding their nuclear program. But from a macro perspective, the 10-year Treasury Bond hitting a 3% yield for the first time in a few years likely affected trader psychology the most. The intermediate posture is now strongly bearish. Market Sentiment has also reversed course and is back to being bearish after a short bullish stint in the last month. Somewhat strangely, the Russell 2000® ended up being the stalwart index today, closing lower by only 0.57%.
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