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Stay alert! Current consolidation still looks outright corrective!

June 28. 2015

Market Review

U.S. stocks finished the week in negative territory. For the week, the Dow Jones Industrial Average slid 0.4 percent to 17,947.48. The S&P 500 dropped 0.4 percent as well to finish at 2,101.50. The broad-index marked its longest streak since 1993 without posting a weekly move of more than 1 percent. The Nasdaq shed 0.7 percent from the week-ago close to 5,110. Among the key S&P sectors, financials were the best weekly performer, while utilities dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 14. Read more

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Any upcoming bounce should be corrective!

June 21. 2015

Market Review

U.S. stocks finished the week nearly unchanged. For the week, the Dow Jones Industrial Average eked out a small gain 0.3 percent to close at 17,898.84. The S&P 500 finished at 2,094.11 and ended the week up 0.06 percent for the longest streak of sub-1 percent weekly moves since 1993. The Nasdaq lost 0.3 percent for the week to end at 5,051.10. Among the key S&P sectors, health care was the best weekly performer, while financials dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13. Read more

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The air is getting thinner (as technical picture remains outright damaged)!

June 14. 2015

Market Review

U.S. stocks finished the week nearly unchanged. For the week, the Dow Jones Industrial Average eked out a small gain 0.3 percent to close at 17,898.84. The S&P 500 finished at 2,094.11 and ended the week up 0.06 percent for the longest streak of sub-1 percent weekly moves since 1993. The Nasdaq lost 0.3 percent for the week to end at 5,051.10. Among the key S&P sectors, financials were the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), a measure of investor uncertainty, fell to 13.78. Read more

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Watch out! Market looks extremely vulnerable at the moment!

June 07. 2015

Market Review

Last week all three major U.S. averages ended in negative territory. For the week the Dow Jones Industrial Average dropped 0.9 percent to 17,849.46. The S&P 500 dropped 0.7 percent to 2,092.83 during the week. The broad index stands at its lowest level since May 7 after falling for two weeks in a row. The benchmark index has trimmed its year-to-date gain to 1.7 percent. The Nasdaq Composite dipped less than 0.1 percent from last Friday’s close, ending at 5,068.46. Of the key S&P sectors, utilities led decliners, while financials led advancers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 14. The index posted its second consecutive week of gains. Read more