Stock Indices Recap – 10/17/2017Posted 10/17/2017 3:36PM CT |
December S&P finished up 0.8 at 2557, 0.2 off the high and 4.5 up from the low.
December S&P E-Mini closed up 1 at 2557.25. This was 5 up from the low and 0.5 off the high.
It would appear that a test of the psychological 23,000 level in the Dow provided an excuse for many investors to bank profits. Perhaps the trade also decided to bank profits because of the idea that a favorable start to corporate earnings was factored into current prices. Furthermore, there were some well-known market analysts expressing some concern of rich values in several sectors.