Month: October 2023

October 29th 2023 |

Key Takeaways

• Expect further (stronger) selling pressure down the road

• Trend quality is neglecting any sustainable recovery scenario

• The current risk-/reward ratio still looks too low for a strategic bargain hunt

Market Review |

In line with our strategic outlook, U.S. stocks finished another week with brutal losses. The Dow Jones Industrial Average slumped 2.1% over the week to 32,417.59. The S&P 500 closed at 4,117.37 and posted a 2.5% weekly loss. The Nasdaq plunged 2.6% this week to end at 12,643.01. Besides the utilities sector, all key S&P sectors were negative for the week, led by energy. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 21.3.

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October 22nd 2023 |

Key Takeaways

• Bounce was successfully running out of fuel last week
• Trend quality is neglecting any sustainable recovery scenario
• The current risk-/reward ratio still looks too low for a strategic bargain hunt

Market Review

All major indices finished the week deeply in the red. The Dow Jones Industrial Average shed 1.6% over the week to 33,127.28. The S&P 500 booked a weekly loss of 2.4% to finish at 4,224.16. The Nasdaq slumped 3.2% for the week to end at 12,983.81. Except energy and staples, all key S&P sectors ended in negative territory for the week, led by the real estate sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, finished the week increased to 21.7. Read More

October 15th 2023 |

Key Takeaways

• Expected bounce in place but signs of fatigue visible
• Trend quality is neglecting any sustainable recovery scenario
• The current risk-/reward ratio still looks too low for a strategic bargain hunt

Market Review |

U.S. stocks finished the week mostly higher. For the week, the Dow Jones Industrial Average eked out a small gain of 0.8% to close at 33,670.29. The S&P 500 gained 0.5% during the week to end at 4,327.78. The Nasdaq declined 0.2% for the week to finish at 13,407.23. Among the key S&P sectors, the energy sector was the best weekly performer, while discretionary dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed at 19.3. Read More

October 8th 2023 |

Key Takeaways

• Stronger signs of capitulation are likely to trigger stronger oversold bounce
• Nevertheless, the quality of the current downtrend still remains quite high
• The current risk-/reward ratio still looks too low for a strategic bargain hunt

Market Review |

Mainly due to a stronger bounce on Friday, U.S. averages finished the week with a mixed performance. The Dow Jones Industrial Average lost 0.3% during the week to close at 33,407.58. The S&P 500 eked out a small weekly gain of 0.5% to finish at 4,308.50. The Nasdaq climbed 1.6% for the week and finished at 13,431.34. 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, closed at 17.5.

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October 1st 2023 |

Key Takeaways

• Ingredients for a stronger bounce are accumulating
• Nevertheless, the quality of the current downtrend still remains quite high
• The current risk-/reward ratio still looks too low for a strategic bargain hunt

Market Review |

U.S. averages finished the week mostly with a negative performance. The Dow Jones Industrial Average lost 1.3% over the week, to end at 33,507.50. The S&P 500 declined 0.7% from last week's close to finish at 4,288.05. The Nasdaq closed at 13,219.32, posting a tiny 0.1% weekly gain. The Dow Jones Industrial Average notched a 3.5% decline this month, the S&P 500 4.9% and the Nasdaq was off 5.8% in September. The Nasdaq and the S&P 500 posted their worst months this year. Most key S&P sectors ended in negative territory for the week, led by utilities. The Chicago Board Options Exchange Volatility Index, the gauge of S&P 500 options known as the VIX, ended at 17.5. Read More