Art Cashin – Stock Market Bulls Are Having Some Problems

August 15, 2023

Today one of the greats in the business warned the stock market bulls are having some problems.

Bulls Having Trouble

August 15 (King World News) – Art Cashin, Head of Floor Operations at UBS: So far, the equity bulls seem unable to shake off their current bond yield anxiety, even though the ten-year yield has moved slightly lower than its 4.27% earlier today.

The news is not really motivating things and again the market is taking its own temperature and pulse. So, I would continue to watch those bond yields and, of course, pending any further equity weakness, can the S&P 4440 level and, more importantly, the critical level 50-day moving average at either 4432 (my sources) or 4460 (other sources). So, we will be clearly watching that area, but as I said earlier, many traders for rule of thumb are just using the 4400 level.