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Consolidation period has its designated impact on short-term optimism!

June 24th 2018

Market Review

U.S. stocks finished the week with losses. The Dow Jones Industrial Average declined 2.0 percent over the week to 24,580.89, marking its largest weekly decline since March 23. The S&P 500 dropped 0.9 percent to finish at 2,754.88. The Nasdaq slipped 0.3 percent for the week to end at 7,692.82. Among the key S&P sectors, utilities was the best performer on the week and industrials the greatest decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13.8.

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Technical picture of the market remains supportive!

June 17th 2018

Market Review

U.S. averages finished the week with a mixed performance. For the week, the Dow Jones Industrial Average fell 0.9 percent to close at 25,090.48. The S&P 500 finished the week nearly unchanged (plus 0.01 percent) at 2,779.42. The Nasdaq rose 1.3 percent for the week to end at 7,746.38. Both averages posted their fourth straight weekly gain. Among the key S&P sectors, the utilities sector was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), the gauge of S&P 500 options known as the VIX, ended near 12.

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Current trend remains broad based in its nature!

June 10th 2018

Market Review

As highlighted in our latest call, U.S. stocks finished the week with solid gains. For the week, the Dow Jones Industrial Average advanced 2.8 percent to close at 25,316.53. It was the Dow’s biggest weekly gain since March. The S&P 500 ended at 2,779.03 and booked a weekly gain of 1.6 percent. The Nasdaq gained 1.2 percent over the week to finish at 7,645.51. Both averages posted their third straight weekly gain. Among the key S&P sectors, utilities was the only negative sector for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, held near 12.1.

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No major deal-breaker visible as consolidation still looks quite healthy!

June 3rd 2018

Market Review

U.S. averages finished the week mostly with a positive performance. The Dow Jones Industrial Average lost 0.5 percent over the week, to end at 24,635.21. The S&P 500 gained 0.5 percent for the week to finish at 2,734.62. The Nasdaq closed at 7,554.33, ending the week 1.6 percent higher. Among the key S&P sectors, energy was the best weekly performer, while financials dragged. The CBOE Volatility Index, the gauge of S&P 500 options known as the VIX, ended at 13.5.

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