No signs of divergences so far ? Buy the dips!
June 22. 2014
Market Review
U.S. Stocks ended another up week on a record-breaking note, with the S&P 500 and the Dow Jones Industrial Average closing at all-time highs. The Dow Jones Industrial Average climbed 1.0 percent over the week to end at 16,947.08. Friday?s close was the Dow's 11th closing record of the year. Additionally, the blue chip index also scored an all-time intraday high above 16,978, eclipsing its prior intraday record hit June 9. The S&P 500 rose 1.4 percent to 1,962.87 over the five days, also setting the next record close and its biggest weekly percentage gain since April 17. The Friday session marked the S&P's 22nd record close this year. The Nasdaq Composite added a weekly gain of 1.3 percent to 4,368.04. Utilities and energy led gainers among the S&P?s 10 major sectors. The Chicago Board Options Exchange Volatility Index, the gauge of S&P 500 options prices known as the VIX, ended at 10.85. The measure is trading near its lowest level since 2007. Read MoreMarket looks vulnerable for short-term disappointments ? Buy the dips!
June 15. 2014
Market Review
All three major U.S. averages finished the week with losses. For the week, the Dow Jones Industrial Average lost 0.9 percent to 16,775.58. The S&P 500 recorded a 0.7 percent loss over the past five trading days to end at 1,936.15. The Nasdaq Composite suffered a weekly decline of 0.3 percent to 4,310.65. Energy was the only gainer among the S&P?s 10 major sectors. The Chicago Board Options Exchange Volatility Index (VIX), a gauge for U.S. stock volatility, ended at 12.18. Read MoreS&P 500 successfully reached our first initial price target of 1,950!
June 08. 2014
Market Review
As highlighted in our latest call, U.S. stocks finished another week of gains with the Dow and the S&P 500 index at record highs. The Dow Jones Industrial Average gained 1.2 percent from the week ago close to finish at 16.924.28. The blue-chip index recorded its second straight record close and has notched eight closing records so far this year. The Dow?s weekly rise was also its strongest since April 17. The S&P 500 jumped 1.3 percent for the week to close at an all-time high of 1,949.44, notching its 18th record close of the year and its third straight record finish. The broad index also had its strongest weekly percentage rise since April 17. Both the S&P 500 and the Dow have each seen three straight weekly gains. The Nasdaq rocketed 1.9 percent for the week to end at 4,321.40 and posted its fourth straight weekly advance. Industrials and financials led gainers among the S&P?s 10 major sectors. The CBOE Volatility Index fell to 10.73. The gauge of U.S. equity volatility known as the VIX closed at the lowest level since February 2007. Read MoreExpect further strength into June, but bearish divergences remain threatening!
June 01. 2014
