Market breadth weakens with S&P and Nasdaq down, potential for further decline ahead of Fed.

From Investing.com: 2024-12-18 02:29:00

The markets closed lower, with the S&P down 39 basis points and the Nasdaq dropping for the ninth consecutive day by 66 basis points. Breadth deteriorated as 378 S&P stocks were down compared to 120 up. The NYSE McClellan Oscillator finished at -73.5, indicating room for further decline. The NYSE Summation Index closed at 88, a key indicator for potential market changes. All eyes are on the Fed meeting today, with implied volatility at 13.5. Global rates are rising in the UK and Japan, potentially impacting U.S. 10-year yields. Equity financing costs are at their highest levels since 2008.



Read more at Investing.com: S&P 500: Equal-Weight Weakness Signals Eroding Market Breadth Ahead of Fed