Short lived consolidation possible but set-up remains quite bullish!
September 22nd 2019
Market Review
After the S&P 500 just had closed 10 points below its all-time high on Thursday, U.S. stocks fell on Friday, with the major indexes snapping a three-week winning streak. For the week, the S&P 500 finished at 2,992.09 and posted a weekly drop of 0.5 percent. The Dow Jones Industrial Average slid 1.1 percent to 26,935.07, whereas the Nasdaq finished the week 0.7 percent lower. The utilities sector was the best weekly performer, while discretionary dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15.2. Read MoreExpect to see new all-time highs soon!
September 15th 2019
Market Review
In line with our latest call, all three major U.S. averages finished the week with solid gains. For the week the Dow Jones Industrial Average advanced 1.6 percent to end at 27,219.52. The blue-chip index posted its first eight-day winning streak in more than a year. The S&P 500 added 1.0 percent for the week to finish at 3,007.39. The Nasdaq advanced 0.9 percent from the week-ago close to 8,176.71. Friday’s action left the Dow Jones Industrial Average 0.5 percent from its record at 27,359.16 hit on July 15, while the S&P 500 was also 0.5 percent from its all-time high at 3,025.86 set on July 26. The Nasdaq ended the day 1.9 percent from its all-time closing high at 8,330.21 also hit on July 26. Most key S&P sectors finished higher, led by financials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 13.7. Read MoreThe S&P 500 rallied strongly for the week!
September 8th 2019
Market Review
In line with our latest technical market forecast, U.S. stocks finished the week with solid gains. The Dow Jones Industrial Average rose 1.5 percent from the week-ago close to 26,797.46. The S&P 500 climbed 1.8 percent for the week to 2,978.71. The Nasdaq also gained 1.8 percent over the week to 8,103.07. The Dow Jones Industrial Average stands 2.1 percent shy of its record closing peak at 27,359.16, hit July 15, while the S&P 500 is about 1.6 percent short of its all-time closing high set July 26 at 3,025.86, and the Nasdaq is 2.7 percent from its July 26 record at 8,330.21. All key S&P sectors ended in positive territory for the week, led by the discretionary sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 15. Read MoreTime to raise exposure again as tape is getting back on track!
September 1st 2019
