Further market top-confirmation! Stay alert!

September 30th 2018

Market Review

U.S. averages closed the week mostly with a negative performance. The Dow Jones Industrial Average dropped 1.1 percent from the week-ago close to 26,458.31. The S&P 500 recorded a 0.5 percent loss over the week and finished at 2,913.98. The Nasdaq Composite booked a weekly gain of 0.7 percent to end at 8,046.35. On the month, the Dow Jones Industrial Average gained 1.9 percent, while the S&P 500 posted a monthly gain of 0.4 percent, while the Nasdaq edged down 0.8 percent. Over the quarter, the S&P 500 has risen more than 7 percent, which would be its biggest quarterly advance since the fourth quarter of 2013. The Dow Jones Industrial Average is up about 9 percent; both the Dow Jones Industrial Average and the S S&P 500 P have risen in 11 of the past 12 quarters. The Nasdaq is up more than 7 percent over the quarter, and it is set for its ninth straight quarterly gain. Among the key S&P sectors, technology was the best weekly performer, while materials dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.1.

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Large cap driven rally increases negative divergences!

September 23rd 2018

Market Review

U.S. stocks finished the week with a mixed performance, but still with two benchmarks hitting record highs. The Dow Jones Industrial Average rose 2.2 percent in five trading days to end at 26,743.50; the blue chip index booked its biggest weekly percentage gain since July. The S&P 500 gained just 0.9 percent over the week to finish at 2,929.67. Both indexes hit fresh all-time highs earlier on the day. The Nasdaq Composite declined 0.3 percent during the week to 7,986.96. Most key S&P sectors ended in positive territory for the week, led by materials. Utilities and technology were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 11.7.

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Stay cautious! Market is highly at risk for stronger disappointments!

September 16th 2018

Market Review

All three major U.S. averages finished the week with solid gains. The Dow Jones Industrial Average rose 0.9 percent to close the week at 26,154.67, its fourth positive week of the past five. The S&P 500 increased 1.2 percent for the week to end at 2,904.98, its ninth positive week of the past 11. The Nasdaq gained 1.4 percent from the week ago close to finish at 8,010.04, its third positive week of the past four. At current levels, the S&P 500 is 0.4 percent below its record close set in late August, while both the Dow Jones Industrial Average and the Nasdaq are within 2 percent of their all-time highs. Most key S&P sectors ended in positive territory for the week, led by financials. Financials were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.1.

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Stronger cyclical headwinds possible! Time to place a stop-loss!

September 9th 2018

Market Review

U.S. stocks finished the holiday-shortened week with losses. The Dow Jones Industrial Average lost 0.2 percent over the week to 25,916.54. The blue-chip index snapped a three-week winning streak. S&P 500 declined 1.0 percent for the week to finish at 2,871.68. The Nasdaq slumped 2.7 percent for the week to end at 7,902.54. The technology-laden index posted its fourth straight loss — its first since April — and is worst start to September since 2008. Among the key S&P sectors, utilities and consumer staples were the best weekly performer, while materials and technology dragged. The CBOE Volatility Index, or VIX, a measure of investor uncertainty, jumped to 14.88.

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Further broad based trend confirmation!

September 2nd 2018

Market Review

In line with our latest call, U.S. stocks rallied for the week. The Dow Jones Industrial Average added 0.7 percent from last Friday’s close to 25,964.82. Over the past month, the Dow is up 2.2. The S&P 500 rallied 0.9 percent during the week to 2,901.52. The benchmark index gained 3.0 percent over the month. The Nasdaq closed at 8,109.54. The tech-heavy index rose 2.1 percent over the week and is up 5.7 percent over the month, its best August return since 2000. Both the Dow Jones Industrial Average and the S&P 500 notched their third straight weekly advances, while the Nasdaq booked its second straight positive week. Most key S&P sectors ended in positive territory for the week, led by technology. Consumer staples led decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended near 12.9.

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