Consolidation in place as indicators remain supportive but not confirmative

June 30th 2024 |

Key Takeaways

  • Consolidation in place
  • We remain alert as negative divergence have not been sorted out so far
  • New allocation in our model portfolios
 

Market Review |

U.S. stocks ended the week nearly unchanged, pushing two major indexes to new record highs during the week. The Dow Jones Industrial Average closed at 39,118.86 and inched lower by less than 0.1% over the week. The S&P 500 also booked a 0.1% loss over the week to close at 5,460.48. The Nasdaq added 0.2% from last Friday's close, finishing at 17,732.6. Among the key S&P sectors, the energy sector was the best weekly performer, while the utilities and materials sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.4. Read More

Tilt between supportive and corrective remains narrow

June 23rd 2024 |

Key Takeaways

  • Trend is still mainly driven by large-cap mega tech stocks
  • We remain alert as negative divergence have not been sorted out so far
  • New record highs in two model portfolios

Market Review |

U.S. stocks finished the week with gains. Closing at 39,150.33, the Dow Jones Industrial Average rose 1.5% for the week, booking its best weekly performance since May. The S&P 500 recorded a weekly gain of 0.6% and closed at 5,464.62, notching an intraday record earlier in the week. The Nasdaq finished at 17,689.36 and eked out a tiny weekly gain less than 0.1%. Most key S&P sectors finished higher, led by the discretionary sector. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 13.2. Read More

Risk of a strong trend reversal has increased as the broad market is faltering

June 16th 2024 |

Key Takeaways

  • Short-term negative regime shift in the S&P 500
  • Good time to reconsider current risk positions
  • New record highs in two model portfolios

Market Review |

U.S. stocks ended the week mostly higher. The Dow Jones Industrial Average closed at 38,589.16 and finished the week nearly unchanged (-0.5%). The S&P 500 booked a 1.6% gain over the week to close at 5,431.60. The Nasdaq jumped 3.2% from last Friday's close, finishing at 17,688.88 and reaching a new all-time high. Among the key S&P sectors, the technology was the best weekly performer, while the energy sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.7. Read More

The air is getting thinner!

June 9th 2024 |

Key Takeaways

  • Positive outlook for now but the air is getting thinner
  • Stay alert as heavy-weighted stocks are driving gains while the broad market is lagging
  • Market still has a chance to overcome negative divergences

Market Review |

U.S. stocks finished the week with gains. Closing at 38,798.99, the Dow Jones Industrial Average rose 0.3% for the week. The S&P 500 booked a weekly gain of 1.3% and closed at 5,346.99, reaching an intraday all-time high on Friday. The Nasdaq finished at 17,133.13 and rocketed 2.4% this week. Among the key S&P sectors, the technology sector was the best weekly performer, while the utilities sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.2. Read More

Expected consolidation in place but no reason to change our outlook

June 2nd 2024 |

Key Takeaways

  • Market took a healthy breather
  • Risk for a significant trend reversal remains low
  • Strategic positive outlook remains unchanged

Market Review |

U.S. stocks finished a tough week in red. Despite its best session of the year on Friday, the Dow Jones declined 1.0% for the week to 38,686.32. The S&P 500 retreated 0.5% for the week to finish at 5,277.51. The Nasdaq posted a 1.1% loss for the week and finished at 16,735.02. The S&P and the Nasdaq snapped five-week win streaks. Despite the challenging week, it was a winning May, with each of the major benchmarks registering a sixth positive month in seven. The Dow added 2.3% this month, while the S&P 500 rose 4.8%. The Nasdaq gained 6.9%, notching its best month going back to November. Among the key S&P sectors, the energy sector was the best weekly performer, while the technology sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 12.9. Read More