Recovery still looks outright corrective! Expect another down-leg soon!
September 20. 2015
Market Review
After rallying from Monday to Thursday, U.S. stocks finally ended the week with a mixed performance. The Dow Jones Industrial Average fell 0.3 percent for the week to close at 16,384.79. The S&P 500 recorded a weekly loss of 0.2 percent and closed at 1,958.08. The broad-index erased its gain for the week on Friday, after rallying as much as 1.5 percent. The Nasdaq eked out a small weekly gain of 0.1 percent to end at 4,827.23. Among the key S&P sectors, utilities and consumer staples was the best weekly performer, while financials and materials dragged. The CBOE Volatility index (VIX) considered the best gauge of fear in the market, held above 22.5. Read MoreBouncing into expiration likely, but tape confirmation is still missing!
September 13. 2015
Market Review
U.S. stocks ended the holiday-shortened week on a high note, with the main indexes advancing and posting solid weekly gains. The Dow Jones Industrial Average rose 2.0 percent for the week to close at 16,432.89. Among the blue-chip companies, 25 finished the week with gains. The S&P 500 gained 2.1 percent from last Friday's close to finish at 1,961.01. The Nasdaq advanced 3.0 percent for the week to finish at 4,822.34. Among the key S&P sectors, technology and health-care stocks led the gains this week, while the energy sector was the only decliner for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended the week near 23. Read MoreRetest of recent low possible before bounce could bring some relief!
September 06. 2015