Market Recap for Tuesday, August 29, 2017
At Tuesday's open, North Korea and its missile test were the talk of Wall Street. By the close, traders ignored the rising tensions and instead focused on the recent better-than-expected quarterly earnings and the low interest rate environment. U.S. equities rose on Tuesday with the S&P 500 closing higher for the third consecutive session. Before you go rushing to your internet broker to push the buy button, however, realize the gains have been 4 points, 1 point, and 2 points, respectively, over the past three trading days. The S&P 500 remains beneath its 20 day EMA and the weekly negative divergences are still there. But it's still a subtle victory for the bulls, especially after the news of North Korea firing a test missile over Japan had global equities reeling in early trade.