Stocks are facing some selling pressure as hedge funds and active investors reduce risk. This comes after a wild week where volatility soared as social media influence in (heavily shorted) stocks and other assets made headlines.
In today’s video, we will discuss the current technical setup on the major stock market indices, price levels we are watching, and trending stocks and sectors. Here’s a recap:
Despite the selling, safe haven investments are relatively flat.
The U.S. Dollar index is trading sideways in an effort to consolidate.
The investing environment for commodities continues to be advantageous.
Stock Market Today Video – February 1, 2020
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
