Smells like a broader based trading range!
November 22. 2015
Market Review
U.S. stocks ended the week with solid gains. The Dow Jones Industrial Average gained 3.3 percent over the week to close at 17,823.95. The S&P 500 jumped 3.3 percent for the week to finish at 2,089.16. The weekly gain was the best since December 2014. The Nasdaq rocketed 3.6 percent over the past five days to end at 5,104.92. All key S&P sectors ended in positive territory for the week, led by consumer discretionary. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed below 16. Read MoreCorrection risk is increasing as market breadth had to take a hard hit!
November 15. 2015
Market Review
U.S. stocks ended the week with steep losses, snapping a six-week winning streak. The Dow Jones Industrial Average slumped 3.7 percent over the week to 17,245.10, its worst weekly drop since September. The S&P 500 dropped 3.6 percent for the week to finish at 2,023.04, its worst weekly fall since September 4. The benchmark index turned negative for the year and fell below its 200-day moving average. The Nasdaq slumped to 4,927.88 and finished the week 4.3 percent lower, the tech-heavy indexes worst weekly drop since Aug. 21. Among the key S&P sectors, energy fell nearly 6 percent as the worst performer for the week, while utilities was the only sector to post gains for the week, up 0.3 percent. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, topped 20 for the first time since Oct. 6. Read MoreShort-term vulnerable, but mid-term bullish set-up remains unchanged!
November 08. 2015
Market Review
U.S. stocks finished the week with gains. The Dow Jones Industrial Average rose 1.4 percent from the prior Friday's close, to end at 17,910.33. The S&P 500 soared 1.0 percent for the week to end at 2,099.20. The Nasdaq climbed 1.9 percent to finish at 5,147.12. All three averages posted their longest period of weekly gains since late last year. Most key S&P sectors ended in positive territory for the week, led by financials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, fell below 15. Read MoreConsolidation in progress and more to come!
November 01. 2015