Trend remains well intact! (But contrarian indicators remain threatening)

November 30. 2014

Market Review

U.S. stocks rose for the holiday-shortened week, capping a second straight monthly increase. The Dow Jones Industrial Average eked out a gain of 0.1 percent for the week to close at a record of 17,828.24. The S&P 500 rose 0.2 percent over the week to end at 2,067.58. Both the Dow and S&P 500 posted a second straight month of gains and the 8th in 11 months this year. Additionally, both indexes barely held onto their 6th straight week of gains, their longest winning streak in a year. The Nasdaq jumped 1.7 percent over the week to close at 4,791.63, its first 6-week win streak since February 2013. Technology and health care led gainers among the S&P?s 10 major sectors. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13. Read more

Seasonal tailwinds ahead (but divergences remain a burden)

November 23. 2014

Market Review

U.S. stocks gained for a fifth week, with benchmark indexes reaching all-time highs. For the week, the Dow Jones Industrial Average gained 175.32 points, or 1 percent, to 17,810.06. The blue-chip index closed at a record for the 28th time this year. The S&P 500 rose 1.2 percent to 2,063.50 for the five days. Its biggest weekly advance this month and its 45th record close for the year. The Nasdaq advanced 0.5 percent from last Friday’s close to 4,712.97. All key S&P sectors ended in positive territory, led by materials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded just above 13. Read more

Stay alerted: Major non-confirmations within our indicator framework!

November 16. 2014

Market Review

All three major indexes advanced for a fourth week. In the five trading days the Dow Jones Industrial Average climbed 60.81 points, or 0.4 percent, to 17,634.74. The S&P 500 rose 0.4 percent to 2,039.82 for the five days, ending the week at an all-time high. The broad index is up just over 10 percent for the year. The Nasdaq Composite Index jumped to 4,688.54, up 1.2 percent from last Friday’s finish. Among the key S&P sectors, materials were the best weekly performer, while energy dragged. The Chicago Board Options Exchange Volatility Index, the gauge of S&P 500 options known as the VIX, gained 1.5 percent to 13.31 for the five days. Read more

Market is getting increasingly toppish!

November 09. 2014

Market Review

U.S. stocks finished the week with modest gains and with record highs for two of the three main benchmarks. For the week, the Dow Jones Industrial Average added 1.0 percent to 17,573.93. The S&P 500 advanced 0.7 percent to 2,031.92 for the five days. Both, the Dow and S&P 500, posted their next record highs. The Nasdaq closed at 4,632.53, remaining in positive turf for the week. Nearly all key S&P sectors ended in positive territory, led by, consumer staples. The CBOE Volatility Index, a measure of investor uncertainty, dropped 6.5 percent last week to 13.12, the lowest level since Sept. 19. Read more

More evidences for our complex multi-week rebound scenario!

November 02. 2014

Market Review

U.S. stocks rallied for the week, capping a monthly advance and returning benchmark indexes to records. The Dow Jones Industrial Average jumped 3.5 percent during the week to at a record level of 17,390.52. The blue-chip average had its best week since January 2013 and is up 2 percent for the month. The S&P 500 rose 2.7 percent to 2,018.05 in the week, topping its Sept. 18 record on the final day. The index added 2.3 percent in October. The Nasdaq rallied 3.2 percent for the week to 4,630.74 and closed at the highest level since March 2000. The technology-laden index is up 3.1 percent from the month-ago finish. All 10 of the main S&P 500 groups advanced in the week, led by technology. The Chicago Board Options Volatility Index (VIX) tumbled 13 percent to 14.03 for a second week of losses. The gauge known as the VIX plunged 47 percent since Oct. 15 when it closed at the highest since June 2012. Read more