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Second down-leg forming! No signs for major bottom at the moment!

September 27. 2015

Market Review

U.S. stocks ended the week with losses. The Dow Jones Industrial Average fell 0.4 percent in five trading days to end at 16,314.67. The S&P 500 booked a 1.4 percent loss over the week and closed at 1,931.34. The Nasdaq dropped 2.9 percent for the week to 4,686.50. All three major averages are negative for 2015. Most key S&P sectors ended in negative territory for the week, led by health care. Financials, utilities and consumer staples were the only gainers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held near 23. Read more

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Recovery still looks outright corrective! Expect another down-leg soon!

September 20. 2015

Market Review

After rallying from Monday to Thursday, U.S. stocks finally ended the week with a mixed performance.
The Dow Jones Industrial Average fell 0.3 percent for the week to close at 16,384.79. The S&P 500 recorded a weekly loss of 0.2 percent and closed at 1,958.08. The broad-index erased its gain for the week on Friday, after rallying as much as 1.5 percent. The Nasdaq eked out a small weekly gain of 0.1 percent to end at 4,827.23. Among the key S&P sectors, utilities and consumer staples was the best weekly performer, while financials and materials dragged. The CBOE Volatility index (VIX) considered the best gauge of fear in the market, held above 22.5. Read more

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Bouncing into expiration likely, but tape confirmation is still missing!

September 13. 2015

Market Review

U.S. stocks ended the holiday-shortened week on a high note, with the main indexes advancing and posting solid weekly gains. The Dow Jones Industrial Average rose 2.0 percent for the week to close at 16,432.89. Among the blue-chip companies, 25 finished the week with gains. The S&P 500 gained 2.1 percent from last Friday’s close to finish at 1,961.01. The Nasdaq advanced 3.0 percent for the week to finish at 4,822.34. Among the key S&P sectors, technology and health-care stocks led the gains this week, while the energy sector was the only decliner for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended the week near 23. Read more

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Retest of recent low possible before bounce could bring some relief!

September 06. 2015

Market Review

U.S. stocks finished another week with deep losses and with the main benchmarks recording weekly losses of more than 3 percent. For the week, the Dow Jones Industrial Average dropped 3.3 percent to 16,102.38. Among the blue-chip stocks, 29 out of 30 posted weekly losses. The Dow lost more than 1,550 points over the past two weeks. The S&P 500 fell 3.4 percent during the week to 1,921.22. The second-biggest retreat since December behind the 5.8 percent plunge it suffered in the five days through Aug. 21. The Nasdaq posted a 3.0 percent weekly loss and finished at 4,683.92. Among the S&P sectors, the biggest decliners this week were utilities stocks, which shed 5.2 percent since, while health-care and financials stocks lost 4.4 percent and 4.3 percent respectively. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 27.5. Read more