Month: July 2024

July 28th 2024 |

Key Takeaways

• Our positive outlook remains unchanged
• Consolidation period has started to have its designated impact on sentiment.
• Consolidation into deeper July possible

Market Review |

U.S. stocks finished a volatile week with a mixed performance. The Dow Jones Industrial Average squeaked out a weekly gain of 0.8% to close at 40,589.34. The S&P 500 declined 0.8% during the week to end at 5,459.10. The Nasdaq lost 2.1% for the week to end at 17,357.88. Both indexes posted back-to-back weekly losses for the first time since April. Among the key S&P sectors, the utilities sector was the best weekly performer, while discretionary sector dragged the most. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, closed at 16.4. Read More

July 21st 2024 |

Key Takeaways

• Our positive outlook remains unchanged
• Sentiment looks a bit stretched at the moment
• Consolidation into deeper July possible

Market Review |

U.S. averages finished the week with a mixed performance. The Dow Jones Industrial Average advanced 0.7% during the week to close at 40,287.53. The S&P 500 fell 2% from last Friday's close to 5,505.00. The Nasdaq slumped 3.7% this week and finished at 17,726.94. Both gauges marked their biggest weekly losses since April. The tech-heavy Nasdaq also snapped a six-week win streak. 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 16.5. Read More

July 14th 2024 |

Key Takeaways

• New all-time high in two Model Portfolios
• Trend quality improved all across the board
• Further confirmation for our positive outlook

Market Review |

U.S. stocks finished the week with solid gains. The Dow Jones Industrial Average finished at 40,000.90 and climbed 1.6% this week. During Friday's session, the 30-stock blue-chip index rose to a fresh all-time high of 40,257.24 The S&P 500 gained 0.9% over the same period and finished at 5,615.35. Closing at 18,398.45, the Nasdaq booked a 0.2% weekly rise, increasing a sixth straight week for its longest winning streak since December. Most key S&P sectors ended in positive territory for the week, led by the real estate sector. The comm. services sector was the only decliner. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dropped to 12.46. Read More

July 7th 2024 |

Key Takeaways

• New all-time high in two Model Portfolios
• We upgrade our strategic outlook to cautiously bullish
• Short-term-oriented indicators critical to watch within the next couple of days

Market Review |

U.S. stocks ended the shortened trading week in the green, with two benchmarks posting fresh all-time highs on Friday. The Dow Jones Industrial Average posted a weekly increase of 0.7% to finish at 39,375.87. The S&P 500 climbed nearly 2% for the week to a record closing of 5,567.19. The Nasdaq rallied 3.5% during the week to 18,352.76, a record high as well. Among the key S&P sectors, the discretionary sector 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 12.5. Read More