Market Minute
TradeSmith’s Market Minute is a free e-letter containing the unique insights
of master trader Jeff Clark. By analyzing broad fundamentals, technical patterns, volatility, and momentum, Jeff helps traders prepare to profit
on the most likely moves the market will make.
The Action to Watch on 4/18
The S&P 500 Index had a terrific bounce off of support yesterday. The index popped 20 points higher, recovering everything it lost last Thursday. And the Volatility Index (VIX), used to measure market risk, triggered a new “buy” signal. So we should be ready to rally to new all time highs.
The Action to Watch in the Markets Today
The S&P 500 has reached my downside target for the recent decline. It could fall farther, of course. But conditions are now oversold enough that the downside risk is limited from here. And the potential reward now justifies that risk.
Welcome to Jeff Clark’s Market Minute
Here’s what to look for in the action today…