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S&P 500 had its biggest weekly gain since 2013!

October 26. 2014

Market Review

U.S. stocks rallied for the week. The Dow Jones Industrial Average achieved a 2.6 percent gain during the week and closed at 16,805.41. The S&P 500 rocketed 4.1 percent in five trading days to end at 1,964.58. The benchmark snapped a four-week losing streak and had its biggest weekly percent gain since January 2013. The Nasdaq gained 5.3 percent for the week to end at 4,483.72. All key S&P sectors ended in positive territory for the week, led by health care. The CBOE Volatility Index, a measure of investor uncertainty, dropped to 16.11. Read more

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S&P 500 reached exactly our lower price target ? Time to cover your shorts!

October 19. 2014

Market Review

Last week all three major U.S. averages ended in negative territory again. For the week the Dow Jones Industrial Average dropped 1.0 percent to 16,380.41. The S&P 500 also dropped 1.0 percent to 1886.76 during the week. The Nasdaq Composite declined 0.4 percent from last Friday’s close, ending at 4258.44. All averages were down for the fourth week. Among the key S&P sectors, industrials were the best weekly performer, while health care dragged. The CBOE Volatility Index, a measure of investor uncertainty, ended at 21.99. Read more

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Correction fully in force! S&P 500 hits critical support levels!

October 12. 2014

Market Review

In line with our recent call, U.S. stocks ended the week with deep losses and with the main benchmarks recording their deepest weekly declines in more than two years. For the week the Dow Jones Industrial Average dropped 2.7 percent to 16,544.10. The blue-chip index turned negative for the year. The S&P 500 lost 3.1 percent over the week to end at 1,906.13. The benchmark index suffered its biggest weekly drop since May 2012. The Nasdaq declined 2.3 percent from the week ago close to finish at 4,276.24. The tech-heavy benchmark suffered also its worst weekly decline since May 2012. Most key S&P sectors ended in negative territory for the week, led by energy. Utilities and consumer staples were the only gainers. The Chicago Board Options Exchange Volatility Index (VIX) jumped above 20 for the first time since February, surging 46 percent for the week. Read more

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Second down-leg! More to come after an oversold bounce!

October 05. 2014

Market Review

Last week all three major U.S. averages ended in negative territory. For the week the Dow Jones Industrial Average dropped 0.6 percent to 17,009.69. The S&P 500 dropped 0.8 percent to 1,967.90 during the week. The Nasdaq declined 0.8 percent from the week-ago close, ending at 4,475.62. Most key S&P sectors ended in red for the week, led by energy. Consumer staples and utilities were the only gainers. The Chicago Board Options Exchange Volatility Index (VIX), the gauge of S&P 500 options known as the VIX, dropped to 14.55. Read more