Absolutely no reason to be bearish (as tape condition looks extremely healthy)

May 31st 2020

Market Review

U.S. stocks were on track for solid weekly gains. The Dow Jones Industrial Average jumped 3.8% from the prior Friday's close to end at 25,383.11. The S&P 500 advanced 3.0% for the week to close at 3,044.31. Nasdaq was looking at a 1.8% weekly gain and finished at 9,489.87. For the month, the Dow is on track for a 4.2% gain, the S&P 500 is set for a 4.5% climb while the Nasdaq is looking at a 6.7% advance in May. All S&P sectors ended higher, led by financials. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 27.5. Read More

Further range-bound trading ahead?

May 24th 2020

Market Review

U.S. stocks ended the week with solid gains. The Dow Jones Industrial Average gained 3.3% over the week to close at 24,465.16. The S&P 500 advanced 3.2% for the week to finish at 2,955.45. The Nasdaq advanced 3.4% over the past five days to end at 9,324.59. Nearly all key S&P sectors ended in positive territory for the week, led by the industrials sector. Health care was the only decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed around 28.2. Read More

Is the recovery rally running out of fuel soon?

May 17th 2020

Market Review

U.S. stocks finished Friday with slight gains but the major indexes capped the week with losses. For the week, the Dow Jones Industrial Average slid 2.7% to 23,685.42. The S&P 500 finished at 2,863.70 and posted a weekly drop of 2.2%, notching its worst week since March. The Nasdaq dropped to 9,014.56 and finished the week 1.1% lower. Most key S&P sectors ended in negative territory for the week, led by energy. The health care sector was the only gainer. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 32.6. Read More

The S&P 500 jumped 3.5% for the week – Expect more gains ahead!

May 10th 2020

Market Review

U.S. stocks finished the week with solid gains and all three averages posted their first weekly advance in three. For the week, the Dow Jones Industrial Average rose 2.5% to 24,331.32. The S&P 500 jumped 3.5% during the week to end at 2,929.8. The broad index has bounced more than 30% from its virus low and is just 13.6% away from its record high. The Nasdaq jumped 6.0% from the week ago close to finish at 9,121.32. The heavy-tech index is more than 35% off its lows and is now up 1.6% for 2020. All 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, dropped to 28. Read More

Sell in May and go away? Still a way too early to pull the trigger!

May 3rd 2020

Market Review

After a strong rally until Wednesday (that helped major indexes to post their best April in years), losing sessions on Thursday and Friday left major benchmarks with minor losses on the week. In the end, the Dow Jones Industrial Average dipped 0.2 % over the week to end at 23,723.69. The S&P 500 recorded also a weekly 0.2 % decline to close at 2,830.71. The Nasdaq lost 0.3% from last Friday’s close to finish at 8,604.95. Among the key S&P sectors, the energy sector was the greatest gainer for the week, while utilities led decliners. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 37.2. Read More