Last week’s selloff was the “appetizer” and BTIG says this week may be the “main course”

seekingalpha11-04

TERADAT SANTIVIVUT Wall Street watched the benchmark major averages (DJI) (SP500) (COMP:IND) each make a noticeable shift lower last week and BTIG’s Jonathan Krinsky indicated that the leg lower may ...

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If last week was the appetizer, this week should be the main course with the election followed by FOMC,” Krinsky said. Furthermore, the financial firm spotlighted that the Consumer Confidence survey shows the highest percentage of participants  are anticipating stocks to increase in the year ahead. “Something that makes us say: hmm.” At the start of the week the benchmark S&P 500 trades near 5,711, while the blue-chip Dow hovers near 41,902, and the tech heavy Nasdaq Composite sits near 18,122. 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If last week was the appetizer, this week should be the main course with the election followed by FOMC,” Krinsky said. Furthermore, the financial firm spotlighted that the Consumer Confidence survey shows the highest percentage of participants (51.4%) are anticipating stocks to increase in the year ahead. “Something that makes us say: hmm.” At the start of the week the benchmark S&P 500 trades near 5,711, while the blue-chip Dow hovers near 41,902, and the tech heavy Nasdaq Composite sits near 18,122. 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