Large cap driven rally increases negative divergences!
September 23rd 2018
Market Review
U.S. stocks finished the week with a mixed performance, but still with two benchmarks hitting record highs. The Dow Jones Industrial Average rose 2.2 percent in five trading days to end at 26,743.50; the blue chip index booked its biggest weekly percentage gain since July. The S&P 500 gained just 0.9 percent over the week to finish at 2,929.67. Both indexes hit fresh all-time highs earlier on the day. The Nasdaq Composite declined 0.3 percent during the week to 7,986.96. Most key S&P sectors ended in positive territory for the week, led by materials. Utilities and technology were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 11.7. Read MoreStay cautious! Market is highly at risk for stronger disappointments!
September 16th 2018
Market Review
All three major U.S. averages finished the week with solid gains. The Dow Jones Industrial Average rose 0.9 percent to close the week at 26,154.67, its fourth positive week of the past five. The S&P 500 increased 1.2 percent for the week to end at 2,904.98, its ninth positive week of the past 11. The Nasdaq gained 1.4 percent from the week ago close to finish at 8,010.04, its third positive week of the past four. At current levels, the S&P 500 is 0.4 percent below its record close set in late August, while both the Dow Jones Industrial Average and the Nasdaq are within 2 percent of their all-time highs. Most key S&P sectors ended in positive territory for the week, led by financials. Financials were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.1. Read MoreStronger cyclical headwinds possible! Time to place a stop-loss!
September 9th 2018
Market Review
U.S. stocks finished the holiday-shortened week with losses. The Dow Jones Industrial Average lost 0.2 percent over the week to 25,916.54. The blue-chip index snapped a three-week winning streak. S&P 500 declined 1.0 percent for the week to finish at 2,871.68. The Nasdaq slumped 2.7 percent for the week to end at 7,902.54. The technology-laden index posted its fourth straight loss — its first since April — and is worst start to September since 2008. Among the key S&P sectors, utilities and consumer staples were the best weekly performer, while materials and technology dragged. The CBOE Volatility Index, or VIX, a measure of investor uncertainty, jumped to 14.88. Read MoreFurther broad based trend confirmation!
September 2nd 2018
