September top forming!? In any case it is time to place a stop-loss limit!
September 18. 2016
Market Review
U.S. stocks finished the week in positive territory. The Dow Jones Industrial Average eked out a small weekly gain of 0.2 percent to close at 18,123.80. The S&P 500 recorded a weekly gain of 0.5 percent to end at 2,139.15. The Nasdaq climbed 2.3 percent for the week to 5,244.57. Among the key S&P sectors, technology led the gainers for the week, while energy slumped. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15.4. Read MoreSeasonal headwinds ahead but tape remains constructive (at least for now)!
September 11. 2016
Market Review
U.S. stocks finished the holiday-shortened week with deep losses. The Dow Jones Industrial Average slumped 2.2 percent over the week to end at 18,085. The S&P 500 dropped 2.4 percent for the week to finish at 2,127. The Nasdaq lost 2.4 percent for the week to end at 5,125. For the month to date, the Dow is 1.7 percent lower, the S&P 500 is off 2 percent, and the Nasdaq down 1.7 percent. Among the key S&P sectors, utilities were the best weekly performer, while materials dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded more than 30 percent higher, near 16.4. Read MoreNo signs for a major break-out (in both direction) visible!
September 04. 2016