Past the midway point in the trading week and the major averages have bounced back from consistent selling in the previous week and what many thought may prove a period of continued market consolidation and/or retrenching. Even with Boeing (BA), the most heavily price-weighted stock on the Dow Jones Industrial Average (DOW), proving a major…
Some things never change. That’s why they call them permabears! Jeffrey Gundlach was available and ready to declare, yet again, his bear market call and characterization of the market. It’s an annual ritual for Gundlach, the CEO of Double Line Capital. “The stock market was and still is in a bear market. Stocks could…
After 5 consecutive days of declining markets, the major averages fought back with the strongest breadth since January 4th. The Nasdaq (NDX) led the indices with a 2% rally and the S&P 500 (SPX) followed with a rally of nearly 1.5 percent. The Dow Jones Industrial Average (DJIA) lagged its peers with a .79% rally,…
The S&P 500 finished lower for 5 consecutive days and after achieving resistance around the 2,800 level. This is the 6th, 5-day losing streak for the S&P 500 since the US election in Nov ’16.This is also the first one that didn’t have a single 1% drop on any of the 5 days during the…
Coming into the trading week, most every index and index ETF was expressing overbought conditions. With all the major indices falling greater than 2% to complete the trading week, indices and index ETFs have now worked off some of their overbought conditions. (Table from Bespoke Investment Group) You’ll notice within the table that all index…...
Welcome to this week’s edition of State of the Markets with Seth and Wayne. Please click the link to review the video where we discuss all facets of the daily and weekly market action, assessing the various macro and micro market elements. Below is the outline for easy browsing and navigation. In addition to our…
Wall Street is in the midst of shedding some of its overbought conditions that have persisted in the prior two weeks. The major averages have been lower for the totality of the trading week leading up to Thursday. Small Cap stocks expressed the largest decline on Wednesday and post the release of the ADP private…
Try as it may, the major averages couldn’t escape the clutches of Boeing (BA) once again on Tuesday. The most heavily, price-weighted stock on the Dow Jones Industrial Average (DJIA) meandered in and out of positive territory on Tuesday, but gave way into the closing bell, dragging down the Dow. The S&P 500 (SPX) and…
It was a tumultuous day in the market Monday, even as the framework for a U.S./China trade deal appears to be coming together. Negotiations are in the “final stages” as the two sides plan a summit for the end of March at Mar-a-Lago, President Donald Trump’s Florida resort, sources told CNBC. If a deal is…
Leading up to the Friday trading session, the markets appeared to be expressing exhaustion and have been with overbought conditions for the better part of the last 10 trading sessions. Nonetheless, the YTD rally carried forward on Friday. (Table from Bespoke Investment Group) From Monday through Thursday, the S&P 500 (SPX) and its peer indices…
