Dow Staggers as Strategist Warns That Market Is a House of Cards –

House of Cards
/ AFP The Dow staggered toward a disappointing session on Tuesday, as the stock market’s September recovery screeched to a halt just short of new all-time highs for Wall Street’s major indices. Meanwhile, strategist David Roche warns that the stock market’s breathtaking 2019 recovery could be exposed as a house of cards. Dow Heads Toward First Loss in 5 Sessions The Dow Jones Industrial Average opened to moderate losses on Tuesday, pushing its four-day winning streak to the brink. As of 9:38 am ET, the Dow had lost 57.05 points or 0.21% to settle at 26, 778.46. The Dow is on track to record its first loss in five sessions. | Source: Yahoo Finance The S&P 500 declined 14.08 points or 0.47%, forcing the large-cap index down to 2, 964.22. The technology sector led the retreat, dropping 1.17% as a group. The Nasdaq suffered the most, dropping 62.59 points or 0.77% to 8, 024.85. David Roche: China Will Clobber US in Zero-Sum Trade War September has historically been a dismal month for the Dow Jones Industrial Average. As CCN reported, it’s the only month that the DJIA has averaged declines for the last 20, 50, and 100 ....

From Bespoke: Over last 100 yrs, the Dow has averaged declines during one month: Sept, with 1.08% avg loss and with positive returns just 41% of the time.
Over last 50, 20 years, Sept positive 36%, 45% of the time w/ avg 0.92%, 1.18% declines, respectively — Vito aka The Wall St Intelligencer (@WSintelligencer) August 30, 2019 The Dow has bucked that century-long trend thus far in 2019, rising around 400 points since the market closed on August 30. The DJIA now sits within striking distance of 27, 398.68, the all-time high it set in July. The stock market’s recent recovery has been tightly correlated with unfolding developments in the US-China trade war. Lately, the Dow and its peers have trended higher along with hopes that the two economic superpowers will achieve a “breakthrough” when they return to the negotiating table next month. What September slump? Trade war bullishness has launched the Dow back toward its all-time high. | Source: Yahoo Finance Unfortunately for equities bulls, strategist David Roche warns that these are false hopes and that investors should not delude themselves into pricing in a conclusion to the trade war that in any way favors the ....

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