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Short-term toppish, but bullish outlook remains unchanged!

October 25. 2015

Market Review

U.S. stocks rallied for the week. The Dow Jones Industrial Average advanced 2.5 percent over the week to close at 17,646.97. The S&P 500 booked a 2.1 percent gain over the week and closed at 2,075.16. The benchmark index turned positive for the year. The Nasdaq rocketed 3.0 percent for the week to 5,031.86, its strongest weekly advance since July. Most key S&P sectors finished higher, led by technology and industrials, while energy ended in the red. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 14. Read more

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Healthy breather possible ? Keep buying the dips!

October 18. 2015

Market Review

U.S. stocks finished another week of gains. The Dow Jones Industrial Average advanced 0.8 percent over the week to close at 17,215.97. The S&P 500 eked out a gain of 0.9 percent for the week to finish at 2,033.11. The Nasdaq rose 1.2 percent from last Friday’s close and ended at 4,886.69. Among the key S&P sectors, utilities was the greatest gainer for the week, while materials and industrials were the only negative sectors for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held near 15. Read more

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Bottom confirmed ? Buy the dips!

October 11. 2015

Market Review

U.S. stocks rallied for the week, with the major averages posting their biggest weekly gains in months.
For the week, the Dow Jones Industrial Average jumped 3.7 percent to close at 17,084.49. The blue-chip average posted its biggest weekly gain since February. The S&P 500 soared 3.3 percent during the week to 2,014.89, its best since December. The Nasdaq climbed 2.6 percent over the week to 4,830.47. All 10 S&P sectors finished higher for the week, led by energy. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held near 17. Read more

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Smells like bottom building, but bullish impulses missing as well!

October 04. 2015

Market Review

Major US equity indexes ended higher in extremely volatile trading last week. To be more precise, stocks fell sharply at the start of the week, reaching back toward the lows they had established at the end of August. On Tuesday, the S&P 500 had dropped towards our preferred price target of 1,871.91, before a strong two-day rally on Wednesday and Thursday brought some relief. On Friday, the Dow and S&P 500 closed up more than 1 percent for their biggest intraday upside reversal since October 2011. In the end, all three U.S. major averages posted modest gains for the week. The Dow Jones Industrial Average gained 1.0 percent from the prior Friday’s close to end at 16,472.37. The S&P 500 also added 1.0 percent for the week to end at 1,951.36. The Nasdaq added 0.5 percent from the week-ago close to 4,707.78. Most key S&P sectors ended in positive territory for the week, led by materials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 21. Read more