Market Recap for Wednesday, October 17, 2018 There was a lot of back and forth action in our major indices on Wednesday. For instance, in the span of just 2 1/2 hours, the Dow Jones lost more than 300 points, then recovered them all, moving slightly into positive territory.... READ MORE
Market Recap for Tuesday, October 16, 2018 Wall Street welcomed a trend day to at least temporarily pause the violent downtrend we've experienced the past couple weeks. A trend day typically starts with a gap higher and then gains are extended throughout the session. We clearly saw that... READ MORE
Market Recap for Monday, October 15, 2018 A late afternoon selling binge pushed our major indices into negative territory by the close, with the lone exception being the small cap Russell 2000 ($RUT), which avoided a relative breakdown vs. the benchmark S&P 500. Small caps have been languishing... READ MORE
Market Recap for Friday, October 12, 2018 Finally, Wall Street saw buying pressure to end a trading session. That certainly felt great psychologically, although as I point out below, I doubt that the short-term bottom is in. It's possible, but the odds favor another short-term plunge. For now,... READ MORE
Special Note I will be speaking to the Charlotte Chapter of the American Association of Individual Investors (AAII) tomorrow Saturday, October 13th at 10:00am EST. I plan to discuss how to evaluate the sustainability of a bull market, relative strength and gap trading strategies. The first meeting is FREE... READ MORE
Special Note I will be speaking to the Charlotte Chapter of the American Association of Individual Investors (AAII) this Saturday, October 13th at 10:00am EST. I plan to discuss how to evaluate the sustainability of a bull market, relative strength and gap trading strategies. The first meeting is FREE... READ MORE
Special Note I will be speaking to the Charlotte Chapter of the American Association of Individual Investors (AAII) this Saturday, October 13th at 10:00am EST. I plan to discuss how to evaluate the sustainability of a bull market, relative strength and gap trading strategies. The first meeting is FREE... READ MORE
Market Recap for Monday, October 8, 2018 Consumer staples (XLP, +1.38%) and real estate (XLRE, +1.29%) helped to power Monday's reversal, but that was not enough to turn around the fortunes for the NASDAQ, which still dropped more than 50 points as technology (XLK, -1.13%... READ MORE
Market Recap for Friday, October 5, 2018 There was good news and bad news Friday on the volatility front. The Volatility Index ($VIX) hit 17.36 intraday on Friday, the highest level of expected volatility since the late-June swoon, and it closed another 4% higher after a big spike on... READ MORE
It was a brutal week for many areas of the stock market, but mostly those areas that have led the charge for so long. Stocks that for one to two years or more rarely saw a significant pullback suddenly couldn't find buyers this week. Unfortunately, that's... READ MORE
Market Recap for Thursday, October 4, 2018 While we've seen plenty of market rotation over the past several months, there hasn't been much outright selling. Yesterday changed that. The NASDAQ recovered off of its intraday lows a bit to "only" close down 1.81%... READ MORE
Market Recap for Wednesday, October 3, 2018 The 10 year treasury yield ($TNX) did the inevitable - it closed above 3.11% and the TNX now resides at a level not seen since 2011. There will be those who say that higher interest rates will be the beginning of our... READ MORE
Market Recap for Tuesday, October 2, 2018 The Dow Jones rallied for a fourth consecutive day to close in all-time record high territory, eclipsing the previous high set on September 21st. Unfortunately, the rest of the market didn't get the memo as small cap stocks, in particular, were... READ MORE
Market Recap for Monday, October 1, 2018 The big news was the United States, Canada and Mexico agreeing to replace the North American Free Trade Agreement (NAFTA) and automobile manufacturers ($DJUSAU, +5.84%) were the clear winners. The group also benefited from a quick settlement between the SEC and Tesla&... READ MORE
Market Recap for Friday, September 28, 2018 Friday saw very choppy action to close out the 3rd quarter. The good news is that Q3 typically represents the U.S. market's weakest quarter in terms of performance. However, this year saw significant gains over the summer months as the... READ MORE
Market Recap for Thursday, September 27, 2018 Utilities (XLU, +1.03%) rebounded solidly on Thursday after trending lower most of September. The group appeared to benefit from the failure of the 10 year treasury yield ($TNX) to break out. 3.11% is yield resistance on the TNX from the May... READ MORE
Market Recap for Wednesday, September 26, 2018 The FOMC raised its fed funds rate a quarter point at 2pm EST yesterday as expected, but as usual, it's not what the Fed does, it's what it says. Perhaps the most significant part of the Fed's... READ MORE
Market Recap for Tuesday, September 25, 2018 Almost. That's the word that came to mind while watching energy stocks into the close on Tuesday. Yes, the group is in the midst of a significant short-term rally, but when given the opportunity to clear multi-month price resistance, they came... READ MORE
Market Recap for Monday, September 24, 2018 Energy (XLE, +1.46%) had a very strong day on Monday, helping to offset what was otherwise a rather poor day for U.S. equities. Technology (XLK, +0.50%) was aided by its four key components - computer hardware ($DJUSCR, +1.17%), internet... READ MORE
Market Recap for Friday, September 21, 2018 Bifurcation was once again apparent on Wall Street to close out last week. The Dow Jones was able to finish higher and extend its trek into record high territory, while the S&P 500 was essentially flat. The NASDAQ and Russell 2000,... READ MORE
Market Recap for Thursday, September 20, 2018 Dow Jones, welcome to the party! It's been eight months since the Dow Jones could say it closed in record all-time high territory, but that's what happened at yesterday's close. The Dow Jones joined the S&... READ MORE
Market Recap for Wednesday, September 19, 2018 The biggest news stories technically-speaking yesterday were the breakout in financials (XLF, +1.70%) and the rising 10 year treasury yield ($TNX), which closed at 3.08% and is just 3 basis points from testing a 7 year high. But September 19, 2018... READ MORE
Market Recap for Tuesday, September 18, 2018 It was a solid day on Wall Street. One day after seeing weakness in key areas like technology, consumer discretionary and tranportation stocks and the increasing historical likelihood of further downside action, stocks rebounded....in a big way. Leading the charge were our... READ MORE
Market Recap for Monday, September 17, 2018 Selling in technology (XLK, -1.25%) and consumer discretionary (XLY, -1.24%) resulted in losses across our major indices on Monday. The NASDAQ, understandably, felt the brunt of the selling as this tech-laden index dropped 1.43%. The Russell 2000 ($RUT) suffered the... READ MORE
Market Recap for Friday, September 14, 2018 The NASDAQ struggled on Friday, while the Dow Jones and S&P 500 managed to finish with slight, fractional gains. The Russell 2000 was the clear outperformer, a bullish development as the U.S. Dollar Index ($USD) bounced off its recent price... READ MORE
Special Offer If you would like a copy of my Strong Earnings ChartList, simply follow these steps and I'll send it to you: 1. You MUST be a paid Extra or Pro member of StockCharts.com as that's the only way you can download my ChartList.... READ MORE
Market Recap for Thursday, September 13, 2018 Thursday was a strong day for U.S. equities aside from lackluster performance from small caps (Russell 2000). The NASDAQ led the rally, gaining 0.75% as a rebound in biotechs ($DJUSBT) and semiconductors ($DJUSSC) provided some confidence for traders in those two... READ MORE
Market Recap for Wednesday, September 12, 2018 It was a day of bifurcation as it's difficult to sustain a rally when your two worst sectors are financials (XLF, -0.92%) and technology (XLK, -0.42%). As you might expect, relative weakness was found on the NASDAQ and Russell... READ MORE
Market Recap for Tuesday, September 11, 2018 All of our major indices finished the day higher, although there was little back and forth action. The Dow Jones traded in a 50 point range most of the afternoon. Still, higher is higher. Strength on Tuesday came from three sectors - energy... READ MORE
Special Offer If you would like a copy of my Strong Earnings ChartList, simply follow these steps and I'll send it to you: 1. You MUST be a paid Extra or Pro member of StockCharts.com as that's the only way you can download my ChartList.... READ MORE
Market Recap for Friday, September 7, 2018 U.S. stock indices and most sectors were flat to slightly lower to close out last week. The small cap Russell 2000 was down just 0.08%, while the Dow Jones was the biggest loser, dropping 0.30%. Among sectors, utilities (XLU, -1.... READ MORE
Reminder If you'd like to subscribe to my blog, simply scroll down to the bottom of this article, type in your email address and click the green "Subscribe" button. It's completely FREE, spam-free and the best way to let me know you enjoy my... READ MORE
Market Recap for Wednesday, September 5, 2018 There were a couple things that stood out to me regarding Wednesday's action. First, the recovery off the intraday low wasn't insignificant. However, the stocks driving most of the recovery were in defensive areas. Utilities (XLU, +1.40%) and... READ MORE
Market Recap for Tuesday, September 4, 2018 Our major indices rallied to end the day well off their intraday lows. All did finish in negative territory, however, as healthcare (XLV, -0.80%) and materials (XLB, -0.69%) were the weakest sectors. The XLV was led lower by biotechs ($DJUSBT, -1.... READ MORE
Market Recap for Friday, August 31, 2018 Friday's action was underscored by bifurcation. The NASDAQ and small cap Russell 2000 turned in solid gains of +0.26% and +0.48%, respectively, while the Dow Jones ended the day in negative territory. The S&P 500 was essentially... READ MORE
It's widely known that September historically has been a difficult month for U.S. equities. Since 1950, the S&P 500 has risen during the month of September 30 times and moved lower 38 times. It's the only calendar month where the bears have had... READ MORE
Market Recap for Thursday, August 30, 2018 Record Wall Street action was temporarily suspended on Thursday as all of our major indices fell in the final two hours to finish the day in negative territory. Utilities (XLU, +0.04%) managed to eke out a small gain, but the remaining sectors... READ MORE
Market Recap for Wednesday, August 29, 2018 It was another ho-hum day of records on Wall Street with the S&P 500, NASDAQ and Russell 2000 all closing at all-time record highs for the 4th consecutive session. The Dow Jones has yet to clear its January 2018 record high... READ MORE
Market Recap for Tuesday, August 28, 2018 U.S. stocks extended their winning streak deeper into record territory on Tuesday. The S&P 500 closed in record territory for the third consecutive session. While the gain was very slight (+0.03%), it still keeps the bulls in charge -... READ MORE
Market Recap for Monday, August 27, 2018 It was an all-around solid day on Wall Street to begin the final week of August. And it all occurred on Monday, which historically has been the worst calendar day of the week, particularly Mondays that fall during the second half of calendar... READ MORE