Tuesday, 26 April 2016

Stocks fall after bullish sign

Markets fell on Monday.

The S&P 500 fell 0.2 percent, the STOXX Europe 600 fell 0.5 percent, the Nikkei 225 fell 0.8 percent and the Shanghai Composite Index 0.4 percent.

US crude oil fell 2.5 percent.

While stocks were weak on Monday, there have been bullish signs recently.

Last week, for the first time since September 2014, all 10 S&P 500 sectors were above their 200-day moving averages. According to Bespoke Investment Group, in three of the four instances since 1993 when each sector had cleared the 200-day average, it was a "profoundly bullish" market sign.

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