Divergences are forming but still too early to sell!
December 22. 2013
Market Review
U.S. stocks rallied for the week, with the Dow and S&P 500 scoring record closes. After losing ground in the prior two weeks, the Dow Jones Industrial Average gained 3 percent this week to finish at 16,221.14. That was its best week since mid-September and in terms of point gain, it was the best since early January. The S&P 500 soared 2.4 percent, to close at 1,818.31 and also snapped a two-week losing streak. The Nasdaq gained 2.6 percent from the week ago close to finish at 4,104.74. All key S&P sectors ended in positive territory for the week, led by industrials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slid below 14. Read MoreCorrection risk is increasing but confirmation needed!
December 15. 2013
Market Review
Last week all three major U.S. averages ended in negative territory. For the week the Dow Jones Industrial Average dropped 1.7 percent to 15,755.36. The S&P 500 also dropped 1.7 percent to 1,775.32 during the week, its biggest decline since August. Both the Dow and the S&P 500 were down for the second week, the first series of such losses since early October. The Nasdaq Composite declined 1.5 percent from the week-ago close, ending at 4,000.98, its first week of losses in five. All key S&P sectors finished in the red for the week, dragged by health care. The Chicago Board Options Exchange Volatility Index (VIX), the gauge of S&P 500 options known as the VIX, climbed 1.4 percent to 15.76. Read MoreCyclical tailwinds but more mid-term warnings visible!
December 08. 2013
Market Review
Last week, all three major U.S. averages finished the week with a mixed performance. The Dow Jones Industrial Average declined 0.4 percent, to close the week at 16,020.20. The 30-stock gauge recorded its first weekly loss in nine. The S&P 500 lost less than 0.1 percent over the five days to finish at 1,805.09. The Nasdaq rose less than 0.1 percent from the week-ago close to finish at 4,062.52. The tech-heavy index posted its fourth-straight weekly gain and is trading at levels last seen in September 2000. Three out of the ten main industries in the S&P 500 advanced for the week, led by utilities. The CBOE Volatility Index (VIX), a gauge of investor uncertainty, fell below 14. Read MoreExpect further gains but early warning signs visible!
December 01. 2013