Market tape indicates further rallying into December!

November 27. 2016

Market Review

U.S. stocks finished another week of strong gains, with all three major averages hitting new records. The Dow Jones Industrial Average gained 1.5 percent for the week to close at 19,152.14. The S&P 500 booked a weekly gain of 1.4 percent and closed at 2,213.33. The Nasdaq advanced 1.5 percent in the holiday-shortened week to end at 5,398.92. Most key S&P sectors finished higher, led by materials and industrials, while health care ended in the red. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded lower, near 12.3. Read more

Stronger tape recovery indicates that correction risk has diminished!

November 20. 2016

Market Review

All three major U.S. averages finished the week with modest gains. The Dow Jones Industrial Average eked out a small weekly gain of 0.2 percent to close at 18,867.93. The S&P 500 finished at 2,181.9 and booked a 0.8 percent gain for the week. The Nasdaq Composite closed at 5,321.51 and recorded a weekly gain of 1.6 percent. Most key S&P sectors ended in positive territory for the week, led by energy. The CBOE Volatility index (VIX), widely considered the best gauge of fear in the market, traded 3.5 percent lower, near 12.9. Read more

Market remains quite vulnerable at the moment!

November 13. 2016

Market Review

U.S. rallied strongly for the week, with the three major indexes posting their best weekly gains of the year. For the week, the Dow Jones Industrial Average rose 5.4 percent to close at a new all-time high of 18,847.66. The blue-chip index booked its largest weekly gain since December 2011. The S&P 500 ended the week 3.8 percent higher at 2,164.44, posting its highest weekly gain since 2013. The Nasdaq closed at 5,237.11 and recorded a weekly gain of 3.8 percent, its biggest weekly rise since February. Most key S&P sectors ended in positive territory for the week, led by financials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 14.17. Read more

S&P posts longest losing streak in nearly 36 years!

November 06. 2016

Market Review

U.S. averages finished the week with losses. For the week, the Dow Jones Industrial Average dropped 1.5 percent to finish at 17,888.28. The S&P 500 shed 1.9 percent for the week to close at 2,085.18. The S&P’s losing streak is the longest in almost 36 years. During that streak, the index has fallen nearly 3 percent. The Nasdaq plunged 2.8 percent during the week to end at 5,046.37. Among the key S&P sectors, the materials sector was the best weekly performer, while technology dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, rose more than 40 percent during the week, to trade near 22.9. Read more