Stocks rallied for the week, pushing the S&P 500 to a new record high!

November 3rd 2019

Market Review

In line with our latest call, U.S. stocks rallied for the week, pushing the S&P 500 and the Nasdaq to new record highs. For the week, the Dow Jones Industrial Average rose 1.4 percent to 27,347.36. The S&P 500 climbed 1.5 percent for week to a record high of 3,066.91. The Nasdaq increased 1.7 percent from last Friday close to an all-time high of 8,386.4. Most key S&P sectors ended in positive territory for the week, led by the health care sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended near 12.3.

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Expect to see a new all-time high soon!

October 27th 2019

Market Review

U.S. stocks finished the week with solid gains. The S&P 500 rose 1.3 percent to 3,022.55, just closing 3 points below its latest closing high in July. The Dow Jones Industrial Average ended the week with a gain of 0.8 percent, at 26,958.06. The Nasdaq advanced 1.8 percent from last Friday’s close to finish at 8,243.12. Most key S&P sectors ended in positive territory for the week, led by the energy sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed at 12.65.

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Ingredients for a new high scenario are accumulating!

October 20th 2019

Market Review

All three major U.S. averages finished the week with a mixed performance. The Dow Jones Industrial Average fell sharply on Friday (more than 255 points) to 26,770.20 and declined, therefore, 0.2 percent for the week. The S&P 500 increased 0.5 percent for the week to finish at 2,986.20. The Nasdaq Composite closed at 8,089.54 and scored a 0.4 percent gain for the week. Both indexes were able to post modest gains for the week despite Friday’s decline. Among the key S&P sectors, health care was the best weekly performer, while energy dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded below 14.5.

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The S&P 500 closed just 2 percent below its all-time high, but …

October 13th 2019

Market Review

U.S. stocks finished the week with gains, whereas the Dow Jones Industrial Average and the S&P 500 managed to snap a three-week losing streak. The Dow Jones Industrial Average booked a 0.9 percent weekly gain to end at 26,816.59. The S&P 500 recorded a weekly climb of 0.6 percent and closed at 2,970.27. The Nasdaq ended the week up 0.9 percent and closed at 8,057.0. Most key S&P sectors ended in positive territory for the week led by materials. Utilities led the decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 15.6.

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Impulsive rally in place!

October 6th 2019

Market Review

U.S. averages finished a quite volatile week with a mixed performance. The Dow Jones Industrial Average lost 0.9 percent over the week, to end at 26,573.72. The S&P 500 declined 0.3 percent for the week to finish at 2,952.01. Both, the Dow Jones Industrial Average and the S&P 500 posted their third down week. The Nasdaq closed at 7,982.47, ending the week 0.5 percent higher and snapping a two week losing streak. Among the key S&P sectors, health care was the best weekly performer, while energy dragged the most. The CBOE Volatility Index, the gauge of S&P 500 options known as the VIX, ended at 17.

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No need to panic! Expected consolidation period remains supportive!

September 29th 2019

Market Review

U.S. stocks declined for a second week. The Dow Jones Industrial Average booked a weekly loss of 0.4 percent to finish at 26,820.25. The S&P 500 dropped 1.0 percent to 2,961.79 for the week. The Nasdaq fell 2.1 percent for the week and finished at 7,939.63. Among the key S&P sectors, utilities and staples were the only weekly performers, while all other sectors dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 17.2.

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Short lived consolidation possible but set-up remains quite bullish!

September 22nd 2019

Market Review

After the S&P 500 just had closed 10 points below its all-time high on Thursday, U.S. stocks fell on Friday, with the major indexes snapping a three-week winning streak. For the week, the S&P 500 finished at 2,992.09 and posted a weekly drop of 0.5 percent. The Dow Jones Industrial Average slid 1.1 percent to 26,935.07, whereas the Nasdaq finished the week 0.7 percent lower. The utilities sector was the best weekly performer, while discretionary dragged. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15.2.

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Expect to see new all-time highs soon!

September 15th 2019

Market Review

In line with our latest call, all three major U.S. averages finished the week with solid gains. For the week the Dow Jones Industrial Average advanced 1.6 percent to end at 27,219.52. The blue-chip index posted its first eight-day winning streak in more than a year. The S&P 500 added 1.0 percent for the week to finish at 3,007.39. The Nasdaq advanced 0.9 percent from the week-ago close to 8,176.71. Friday’s action left the Dow Jones Industrial Average 0.5 percent from its record at 27,359.16 hit on July 15, while the S&P 500 was also 0.5 percent from its all-time high at 3,025.86 set on July 26. The Nasdaq ended the day 1.9 percent from its all-time closing high at 8,330.21 also hit on July 26. Most key S&P sectors finished higher, led by financials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 13.7.

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The S&P 500 rallied strongly for the week!

September 8th 2019

Market Review

In line with our latest technical market forecast, U.S. stocks finished the week with solid gains. The Dow Jones Industrial Average rose 1.5 percent from the week-ago close to 26,797.46. The S&P 500 climbed 1.8 percent for the week to 2,978.71. The Nasdaq also gained 1.8 percent over the week to 8,103.07. The Dow Jones Industrial Average stands 2.1 percent shy of its record closing peak at 27,359.16, hit July 15, while the S&P 500 is about 1.6 percent short of its all-time closing high set July 26 at 3,025.86, and the Nasdaq is 2.7 percent from its July 26 record at 8,330.21. All key S&P sectors ended in positive territory for the week, led by the discretionary sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 15.

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Time to raise exposure again as tape is getting back on track!

September 1st 2019

Market Review

U.S. stocks posted solid gains for the week. The Dow Jones Industrial Average added 3.0 percent over the week to end at 26,403.28. The S&P 500 recorded a weekly 2.8 percent gain to close at 2,926.46. The Nasdaq advanced 2.7 percent from last Friday’s close to finish at 7,962.88. Still, the major indexes posted their worst monthly performance since May. The Dow fell 1.7 percent in August while the S&P 500 lost 1.8 percent and the Nasdaq pulled back 2.6 percent. All key S&P sectors ended in positive territory for the week, led by the industrials sector. The CBOE Volatility Index (VIX), widely considered to be the best fear gauge on Wall Street, traded near 19.

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