An Exhausted Market… It’s becoming harder to find a scapegoat for the market’s decline. Stocks have suffered four out of six losing sessions and three consecutive down days. There were no important economic data releases today. This market is falling due to its own exhaustion.
All Quiet On The Equity Front Retailers, Home Depot (HD) and Walmart (WMT), reported solid earnings. However, this positive news for the retail sector was more or less offset by today’s inflation data which probably gives the Fed further justification for a rate hike. Outside of this, there were no other market moving data releases.
Another Quiet Day It was another quiet day in the market. There will be no comments this evening. Below is our performance summary and market diary data. The SP-500 closed @ 2081.71 (+3.13 / +0.15%). The Nasdaq-100, weighed down by Apple Inc (AAPL) lagged @ 4641.73 (-13.79 / -0.30%) while the Rusell-2000 held @ 1187.70 (+3.27 / +0.28%).
Commentary and Performance This evening’s comments will be extremely brief, if any at all. The SP-500 was resilient once again @ 2099.20 (-0.73 / -0.03%). Finishing the day in positive territory were the the Nasdaq-100 @ 4707.23 (+4.33 / +0.09%) and the Rusell-2000 @ 1199.75 (+9.06 / +0.76%).
Commentary This week’s economic data revealed that Europe’s major economies are actually beginning to show some signs of life. Counter-balancing this is the USA which is experiencing a few hiccups in its own economic expansion. The data dependent Fed has some justification for deferring rate hikes and it certainly looks like the Bond market is […]
Commentary Equities: Stocks continue to maintain their bullish uptrends. The SP-500 (@ 2125.85 / -1.98 / -0.09%) made its third consecutive all-time high, but closed lower than yesterday. The DJ-30 Industrials (@18,285.40 / -26.99 / -0.15%) were off slightly, while the
Commentary Equities: The SP-500 and DJ-30 Industrials made new highs once again. Unfortunately, if you are a disciple of Dow Theory, the Transports closed down and are headed in the opposite direction while Utility stocks were up but continue to trade in a downtrend. The Nasdaq-100 finished in positive territory and looks ready to
Commentary Today’s comments will be very brief. As most investors are aware, the S&P 500 and Dow Jones Industrial Average both made new all-time highs, but on lower than average volume. Treasury bonds gave up all their gains from last Friday as a strenthening economy may confirm the inevitable hike in interest rates ahead. The U.S. […]
Below is a weekly chart technical analysis of the U.S. Dollar Index, i.e. the world’s reserve currency.
Commentary Equities: The SP-500 (SPY) and Nasdaq-100 (QQQ) are both testing key resistance levels and, if they successfully pass, we could see a continuation move to new record highs. Small cap stocks continue to recover as the Russell-2000 (IWM) has
The valuation of sovereign currencies tends to correlate with the underlying economic strength of a country relative to others. If there is growth and a propensity towards sensible or more sustainable fiscal policies, then the market participants will also extend favor. This is good. If not, then it is bad. At other times, it is the […]