Market Recap for Tuesday, March 12, 2019 Boeing (BA, -6.15%) was once again a major drag on the Dow Jones as that index ended the session in negative territory (-0.38%), while our other indices were positive. The NASDAQ (+0.44%) was the best performing index as 10 of... READ MORE
Market Recap for Monday, March 11, 2019 It never hurts to have Apple, Inc. (AAPL, +3.46%) breakout and that's what happened on Monday. It not only lifted the technology sector (XLK, +2.15%), but it provided a spark to our major indices as we experienced a "... READ MORE
Market Recap for Friday, March 8, 2019 Friday started ugly. There's no way to sugar coat the worst jobs report in 18 months. Nonfarm payrolls fell way short of expectations, 20,000 actual vs. 175,000 consensus estimate. Slowing job growth was an excellent predictor of the last... READ MORE
Market Recap for Thursday, March 7, 2019 Selling in U.S. equities continued for a fourth consecutive session as this is easily the most difficult period in 2019 for the equity bulls. The first technical breakdown occurred on daily charts as all of our major indices closed beneath their respective... READ MORE
Market Recap for Wednesday, March 6, 2019 All of our major indices took a hit yesterday, including the small cap Russell 2000 ($RUT), which once again lagged badly and dropped another 2.01%. The RUT was easily the worst performer as the Dow Jones, S&P 500 and NASDAQ... READ MORE
Market Recap for Tuesday, March 5, 2019 Another weak start and the inability to finish well contributed to minor losses across our major indices on Tuesday. Relative weakness in the small cap Russell 2000 resulted in a 0.45% loss there, while our other major indices fell more modestly -... READ MORE
Market Recap for Monday, March 4, 2019 It's really hard for me to say who won yesterday's market battle. Obviously, we finished lower so I guess that would be the determining factor to say the bears won this battle. But it sure felt like at least... READ MORE
Market Recap for Friday, March 1, 2019 U.S. equities rallied strongly at the open on Friday, then gave back most, if not all, of those gains by late morning, and finally rallied once again in the afternoon. While intraday volatility was high and different, the end result was what... READ MORE
Gold ($GOLD) performs its best in a falling U.S. Dollar ($USD) environment. There is a solid inverse relationship between the direction of GOLD and the direction of the USD that has existed for decades. The following chart illustrates this relationship from 2001 to 2010: "Gold thrives when the... READ MORE
Market Recap for Thursday, February 28, 2019 Our major indices were lower across the board on Thursday, but losses were minimal. The Dow Jones, S&P 500, NASDAQ and Russell 2000 dropped 0.27%, 0.28%, 0.29%, and 0.35%, respectively. That's not much damage considering... READ MORE
Market Recap for Wednesday, February 27, 2019 We're seeing how the stock market deals with a bit of adversity with a Volatility Index ($VIX) at 15 vs. when it was in the 20s and 30s. Every time it appears we're going to have a nasty day,... READ MORE
Market Recap for Tuesday, February 26, 2019 In what has become a rarity in 2019, all of our major indices finished in negative territory on Tuesday, but it wasn't without a fight. There was early selling, but stocks rallied throughout much of the session to forge to intraday... READ MORE
Market Recap for Monday, February 25, 2019 If you looked at the final numbers yesterday, you'd probably think it was just another day in this two-month long advance, but it wasn't just another day. It was a reversal off a gap higher with the market initially... READ MORE
Market Recap for Friday, February 22, 2019 Software stocks ($DJUSSW, +1.44%) continued their impressive dash higher, eclipsing their October high to enter all-time high territory. It was a significant breakout as the DJUSSW has been a relative leader for a long, long time. Check this out: Perhaps the most... READ MORE
Market Recap for Thursday, February 21, 2019 U.S. stocks stalled on Thursday, but a minimum of sideways consolidation this week was to be expected given 60 minute negative divergences that I discussed earlier in the week. Before we talk about yesterday's action, check out how the negative... READ MORE
Market Recap for Tuesday, February 19, 2019 We saw a bit of intraday back and forth action on Wednesday with the same result - another Wall Street gain. I'm really surprised we haven't seen more selling this week. We're at major price resistance levels... READ MORE
Market Recap for Tuesday, February 19, 2019 Materials (XLB, +0.62%) and utilities (XLU, +0.59%) led another Wall Street rally on Tuesday, although our major indices did see a bit of selling into the close. The XLB and XLU benefited from a falling dollar ($USD, -0.40%) and 10... READ MORE
Market Recap for Friday, February 15, 2019 Friday produced very solid gains as the U.S. government averted a second shutdown as a funding resolution was passed. Also, there was word that US-China trade talks were progressing and any positive developments there are typically well-received by global markets. In an... READ MORE
Understanding relative strength is extremely important in outperforming the benchmark S&P 500. As a sector begins to outperform, it tells us that money is rotating towards that particular sector. One way to visualize this is to look at an RRG chart. It will only take one glance to... READ MORE
Market Recap for Thursday, February 14, 2019 Real estate (XLRE, +0.38%) and communications services (XLC, +0.37%) were the leaders yesterday as Wall Street staged a rally attempt after dealing with an early blow - a very weak December retail sales report. There's one thing everyone should... READ MORE
Market Recap for Wednesday, February 13, 2019 The stock market is beginning to exhibit a bit of the borishness that accompanies bull market advances. The Volatility Index ($VIX) remaining below 16 is confirming the reduced level of fear. There were certainly swings intraday yesterday, but the panicked, impulsive-type selling appears... READ MORE
Market Recap for Tuesday, February 12, 2019 Another government shutdown was averted and the U.S. stock market reacted quite favorably, as you might expect, with all of our major indices surging higher. Our major indices had quite a day: Dow Jones: +1.49% S&P 500: +1.29%... READ MORE
Market Recap for Monday, February 11, 2019 Industrials (XLI, +0.53%), energy (XLE, +0.48%) and financials (XLF, +0.31%) were Monday's leaders as bifurcated action was once again present. The clear index leader was the small cap Russell 2000 index (+0.84%) and that's become... READ MORE
Market Recap for Friday, February 8, 2019 Friday was a solid day for the bulls. It wasn't because we saw large gains, because we didn't. In fact, it was bifurcated action where the S&P 500, NASDAQ and Russell 2000 barely closed higher with gains... READ MORE
Market Recap for Thursday, February 7, 2019 The bears have been waiting for a day like yesterday, which featured a bit of impulsive selling and an accelerating Volatility Index ($VIX). Unfortunately, the bulls may have already inflicted too much damage upon the bears for them to recover fully. I view... READ MORE
Market Recap for Wednesday, February 6, 2019 All of our major indices closed lower on Wednesday and we haven't seen that very often in 2019. The losses were minimal and traders continued to have an appetite for the riskier sectors, so it certainly wasn't a huge... READ MORE
Market Recap for Tuesday, February 5, 2019 Tuesday was Groundhog Day for those that have seen the movie starring Bill Murray. It was a repeat of what we've seen throughout earnings season. We heard a somewhat disappointing outlook from a market leader, in this case Alphabet (GOOGL, +0.... READ MORE
Market Recap for Monday, February 4, 2019 Technology (XLK, +1.60%) led another broad-based rally on Wall Street Monday as all of our major indices closed higher. There was particularly strong action on the aggressive NASDAQ and Russell 2000 as they gained 1.15% and 1.03%, respectively. 9 0f... READ MORE
Market Recap for Friday, February 1, 2019 I'm sure I wasn't the only one thinking that the market was doomed on Friday after Amazon.com (AMZN, -5.38%) disappointed traders with its outlook during Thursday's after hours trading. After all, AMZN is a Wall... READ MORE
I love the seasonality tool here at StockCharts.com. It can potentially give you an advance notification of a price move before it happens. One of the more striking seasonal tendencies that I've seen has been the unbelievable historical performance of Bookings Holdings (BKNG) from January through May,... READ MORE
Market Recap for Thursday, January 31, 2019 Wall Street surged again on Thursday, buoyed by additional strong earnings reports and surprisingly strong forecasts by a couple of influential names. Facebook (FB, +10.82%) and General Electric (GE, +11.65%) were two of the leaders on the S&P 500.... READ MORE
Market Recap for Wednesday, January 30, 2019 Wall Street had much to digest yesterday. There was fresh jobs data as the January ADP employment report was released. The news was much better than anticipated. There was the Apple (AAPL) earnings report from Tuesday evening. While the numbers reported were mostly... READ MORE
Market Recap for Tuesday, January 29, 2019 It was a bifurcated and trying day on Wall Street. Bifurcation isn't necessarily a bad thing as some indices will simply outperform others on certain days and short-term trends in that regard can mostly be ignored. But one problem throughout this... READ MORE
Market Recap for Monday, January 28, 2019 It seemed like the bears let a perfect opportunity slip right through their fingers yesterday. Caterpillar (CAT, -9.13%) reported their latest quarterly earnings before the bell and they weren't pretty. Despite beating revenue estimates, CAT posted EPS well below estimates... READ MORE
Market Recap for Friday, January 25, 2019 Our major indices rallied strongly on Friday, with 9 of 11 sectors rising to support the move. Only two defensive sectors - utilities (XLU, -1.37%) and consumer staples (XLP, -0.40%) failed to participate in the advance. Leading the charge was materials... READ MORE
Market Recap for Thursday, January 24, 2019 Semiconductor stocks ($DJUSSC, +5.10%) soared after a few key earnings reports in the group came in better than expected. Xilinx (XLNX, +18.44%) and Lam Research (LRCX, +15.70%) were two of the best performers, but their results lifted much of the... READ MORE
Note I'm traveling today so my article will be abbreviated. Market Recap for Wednesday, January 23, 2019 It was a fairly volatile session on Wednesday as U.S. indices opened higher, but quickly fell fairly deep into negative territory before rallying in the afternoon. Only the small cap... READ MORE
Market Recap for Tuesday, January 22, 2019 Energy (XLE, -2.18%), communication services (XLC, -2.07%) and industrials (XLI, -2.07%) all fell more than 2% on Tuesday as Wall Street had its first significant retreat since the day that Apple (AAPL) warned. Late day buying cut into losses as... READ MORE
Market Recap for Friday, January 18, 2019 Continuing anticipation of a trade deal with China appeared to fuel very solid stock market action on Friday as all of our major indices pushed higher, as did all 11 sectors. The Dow Jones and S&P 500 led the charge, gaining... READ MORE
Analysts meet with the management teams of companies and then return to their firms and either buy or sell based on the information they gather. It's the primary reason why technical price action precedes fundamental information. If you understand the dynamics on Wall Street, you're in... READ MORE