Further rocky sessions ahead but set-up remains bullish!

June 25th 2017

Market Review

U.S. stocks finished the week in positive territory. The Dow Jones Industrial Average closed at 21,396.33 and ended the week roughly where it started after paring gains from earlier in the week. The S&P 500 added 0.2 percent over the five days to close at 2,438.31. The Nasdaq logged a weekly gain of 1.8 percent to finish at 6,265.25. Among the key S&P sectors, the health care sector was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.

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Sentiment driven consolidation period will be limited in price and time!

June 18th 2017

Market Review

The U.S. stocks finished another week with mixed results. For the week, the Dow Jones Industrial Average added 0.5 percent, to a new record of 21,384.28. The blue-chip average recorded its fourth week of consecutive gains. The S&P 500 eked out a 0.1 percent weekly gain to finish at 2,433.15. The Nasdaq closed at 6,151.76, to end the week 0.9 percent lower. Among the key S&P sectors, the utilities sector was the best weekly performer, while technology dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.4.

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Tape improvements are indicating that the party will continue!

June 11th 2017

Market Review

The three major U.S. averages finished the week with mixed results. The Dow Jones Industrial Average eked out a small weekly gain of 0.3 percent to finish at a record of 21,271.97. The S&P 500 fell 0.3 percent for the week to finish at 2,431.77. The Nasdaq dropped 1.6 percent for the week to 6,207.92. The sudden tech retreat on Friday pushed the Nasdaq into negative territory for the week. Among the key S&P sectors, energy was the best weekly performer, while technology dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.6.

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More confirmation for our summer rally scenario!

June 4th 2017

Market Review

U.S. stocks rallied for the week, lifting all three major indices to new records. For the week, the Dow Jones Industrial Average added 0.6 percent, to 21,206.29. The S&P 500 advanced 1.0 percent during the week to 2,440.23. The Nasdaq gained 1.5 percent from last week’s close to end at 6,305.80. Most key S&P sectors ended in positive territory for the week, led by health care. Energy and financials were the only decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended near 9.8.

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