8-13-24 Retesting Resistance

Monday's markets broke above the 100-DMA and re-tested intraday. A weak test, but a positive for the markets, completely closing Monday's sell-off. This sets up the market for a move upward to the 20-DMA (which has now crossed below the 50-DMA), which will be key resistance for the markets' first attempt at a re-test. Economic date to be released this week could temper markets' mood. For now, sentiment is positive, as markets recover from previous lows. Meanwhile, interest rates have begun a bit of retracement, and a hotter PPI report today could push rates up into the 4% range. We expect bond prices to move down as inflation reports come in hotter than expected. This is a good time to tend to your portfolio, reducing risk and raising cash.   Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO  Produced by Brent Clanton, Executive Producer ------- Watch the video version of this podcast: https://www.youtube.com/watch?v=yBVD9H91LGA&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Get more info & commentary:  https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MarketCorrection #MarketRally #AI #HigherBottom #RetestResistance #RebalancePortfolio #RebalanceRisk #MarketBullishness #MarketCorrection #InvestingAdvice #Money #Investing