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Smells like a top building process!

July 25th 2021

Market Review

U.S. stocks experienced a roller-coaster week that saw the major averages drop several percentage points at the beginning of the week, but strongly bounced at the end of the week. In the end, major indexes rebounded from the steep sell-off, and finally closed the week in positive territory and with hitting new records. The Dow Jones Industrial Average finished at 35,061.55 and gained 1% for the week. The S&P 500 finished at 4,411.79 and ended the week up 2%, after dropping more than 3 percent during the week. The Nasdaq climbed 2.8% for the week to end at 14,836.99. Both benchmarks booked new closing records. Most key S&P sectors ended in positive territory for the week. Utilities and energy were the only decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 17.2.

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New all-time high in place! Great, but now get ready to leave the party soon!

July 17th 2021

Market Review

U.S. stocks wrapped a volatile week that left the major averages finally lower for the week. The Dow Jones Industrial Average lost 0.5% for the week to close at 34,687.85. The S&P 500 dipped 1% from last Friday’s close to end at 4,327.16. The Nasdaq fell 1.9% during the same period to finish at 14,427.24. Despite the week’s losses, all three benchmarks hit record highs during the week. And the Dow is still up 13% for the year and sits just 1.2% from an all-time high. The S&P 500 is up 15% on the year and is 1.5% below its record level. Most key S&P sectors closed lower for the week, led by the energy sector. Utilities were the biggest gainers. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed below 18.5.

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Short-term breather possible, but still no reason to change our bullish outlook

July 11th 2021

Market Review

All three major U.S. benchmarks booked a third straight week of gains to end Friday at fresh all-time highs. For the week, the Dow Jones Industrial Average eked out a small gain of 0.2% to finish at a record of 34,870.16. The S&P 500 advanced 0.4% in that period and closed at a fresh record of 4,369.55. The broad index earned its sixth week of gains in seven. The Nasdaq booked a weekly gain of 0.4% as well and finished at an all-time high of 14,701.92. Among the key S&P sectors, utilities was the best weekly performer, while the energy sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 16.2.

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Fresh record highs of all three major US indexes

July 4th 2021

Market Review

All three major U.S. averages finished the week with gains to set another round of record closes. For the week, the Dow Jones Industrial Average advanced 1.0% to end at 34,786.35. The S&P 500 booked a weekly gain of 1.7%. and finished at 4,352.34. The Nasdaq advanced nearly 2% from the week-ago close to 14,639.33. All three benchmarks hit records during the week. The technology sector led gainers among the S&P’s 10 major sectors; energy was the only negative sector for the week. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15.1.

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