Month: March 2023

March 26th 2023 |

Key Takeaways

• Recovery is based on extremely narrow leadership.
• Risk for stronger waterfall declines remain high.
• Stay on the sideline as the risk-/reward ratio is too low to act contrarian

Market Review |

U.S. stocks ended the week with gains. The Dow Jones Industrial Average eked out a small weekly gain of 0.4% to end at 32,237.53. The S&P 500 added 1.4% in that time period to close at 3,970,99. The Nasdaq increased 1.7% from last Friday's close to 11,823.96. Most key S&P sectors finished positive for the week, led by the comm. services sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 21.7. Read More

March 19th 2023 |

Key Takeaways

• No significant recovery in our short-term-oriented indicators visible
• Latest gains can still be classified as oversold bounce
• Stay on the sideline as the risk-/reward ratio is too low to act contrarian

Market Review |

All three major U.S. averages finished a turbulent week with a mixed performance. The Dow Jones Industrial Average lost 0.2% during the week to close at 31,861.98. The S&P 500, in contrast, was 1.6% higher for the week to close at 3,916.64. The Nasdaq jumped 4.4% from last Friday's close and finished at 11,630.51. Among the key S&P sectors, the technology sector was the best weekly performer, while energy dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 25.5. Read More

March 11th 2023 |

Key Takeaways

• Fast switch from a positive into a negative market regime
• The S&P 500 is vulnerable for further downside risks, together with a capped upside potential
• Strong and fast deterioration within our indicator framework was a game changer

Market Review |

U.S. stocks finished the week finally with deep losses. The Dow Jones Industrial Average slumped 4.4% over the week to 31,909.64. The S&P 500 retreated 4.6% for the week to finish at 3,861.59. The Nasdaq posted a 4.7% loss for the week and finished at 11,138.89. All key S&P sectors ended in negative territory for the week, led by the financial sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, advanced to 24.8. Read More

March 5th 2023 |

Key Takeaways

• We stick to our strategic bullish outlook for the S&P 500 from January 8th
• Consolidation still looks quite healthy in its nature.
• Ingredients for a late Q1 rally are accumulating (given sentiment, seasonal tailwinds and improving trend quality signals)

Market Review |

U.S. stocks closed the week with decent gains. The Dow Jones Industrial Average added 1.8% over the week to end at 33,390.97 and snapped a four-week losing streak. The S&P 500 recorded a weekly 1.9% gain to close at 4,045.64 and its first positive week in the last four. The Nasdaq advanced 2.6% from last Friday’s close to finish at 11,689.01. Most key S&P sectors ended in positive territory for the week, led by the materials sector. Staples and utilities were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 18.5. Read More