Washout day caused a lot of fear among dumb money!

February 23rd 2020

Market Review

Due to Friday’s losses, U.S. stocks closed out the week in negative territory. The Dow Jones Industrial Average slumped 1.4% over the week to 28,992.4. The S&P 500 booked a weekly loss of 1.6% to finish at 3,337.75. The Nasdaq shed 1.3% for the week to end at 9,576.59. All key S&P sectors ended in negative territory for the week, led by technology. The utilities sector led gainers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, jumped to 17.1.

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Sentiment driven clouds gathering but still too early to get concerned!

February 16th 2020

Market Review

Despite Friday’s muted trading moves, U.S. stocks posted back-to-back weekly gains with two benchmarks reaching new records. The Dow Jones Industrial Average rose 1.0% from the week-ago close to 29,398.08. The S&P 500 climbed 1.6% for the week to 3,380.16 and hit a record closing. The Nasdaq gained 2.2% over the week to 9,731.18 and also hit an all-time closing high. All key S&P sectors ended in positive territory for the week, led by the utilities sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 15.

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The S&P 500 jumped 3.2% – its best weekly performance since early June!

February 9th 2020

Market Review

Despite Friday’s losses, U.S. stocks closed out the week with strong gains and with the three benchmarks reaching new records during the week. For the week, the Dow Jones Industrial Average soared 3.0% to end at 29,102.51. The S&P 500 jumped 3.2% to close at 3,327.71. The Nasdaq jumped 4.0% to end at 9,520.51. Nearly all key S&P sectors finished in positive territory for the week, led by the technology sector. Utilities were the only decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 15.5.

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Stay calm! Expected consolidation still remains constructive in its nature!

February 2nd 2020

Market Review

U.S. stocks finished another week with losses. The Dow Jones Industrial Average lost 2.5% over the week to 28,256.03. The S&P 500 booked a weekly loss of 2.1% to close at 3,225.52. On Friday, both the Dow and S&P 500 recorded their biggest one day falls since August. The Nasdaq shed 1.8 percent for the week to end at 9,150.94. After all three benchmark indexes saw record highs earlier in January, for the year to date the Dow is now down 1% and the S&P 500 is down 0.2%, while the technology heavy Nasdaq index is still up 2%. Most key S&P sectors ended in negative territory for the week, led by energy. The utilities sector was the only gainer. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, jumped to 18.8.

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