The extended SPX market rally (live chart) is broken until it takes out the 2018 Sep/Oct double top/all time high, and holds...
It's been struggling to get past that area 3 times already, since Jan 2018
Sunday, May 26, 2019
Market update -Oct 2018 high
The extended SPX market rally (live chart) is broken until it takes out the 2018 Sep/Oct double top/all time high, and holds...
It's been struggling to get past that area 3 times already, since Jan 2018
Sunday, May 19, 2019
Market update -levels
The DOW, S&P, and NAS100 all rallied up from the Dec low, back to the Sep/October high, and they are now pulling back a bit from that level.
The Russell2000 (small-caps) and the NYSE never made it back to the Sep/Oct top (chart below).
The NYSE index is a good gauge of overall market sentiment, representing roughly 2600 stocks traded on the exchange.
Essentially, since Jan 2018 (more than 15 months), the market has not really moved any higher...
We are in a consolidation period from the massive 10 year rally.
The FAANNGs, the prior market leaders, are struggling to get back to the Oct top, even tho the NAS100 already got there..
The market could go either way of course, but:
-the levels to watch on the UP-side would be the Oct (and Jan 2018) highs -some have already gotten there e.g. AXP, CSCO, DIS, MCD, PG, TRV, V, PYPL, SBUX...
-the levels to watch on the DOWN-side would be the intermediate lows seen in Nov, then the Christmas lows (NVDA is almost there already, as is INTC, and others). MMM WBA & DE, for example, already surpassed the Dec lows...
The Russell2000 (small-caps) and the NYSE never made it back to the Sep/Oct top (chart below).
The NYSE index is a good gauge of overall market sentiment, representing roughly 2600 stocks traded on the exchange.
Essentially, since Jan 2018 (more than 15 months), the market has not really moved any higher...
We are in a consolidation period from the massive 10 year rally.
The FAANNGs, the prior market leaders, are struggling to get back to the Oct top, even tho the NAS100 already got there..
The market could go either way of course, but:
-the levels to watch on the UP-side would be the Oct (and Jan 2018) highs -some have already gotten there e.g. AXP, CSCO, DIS, MCD, PG, TRV, V, PYPL, SBUX...
-the levels to watch on the DOWN-side would be the intermediate lows seen in Nov, then the Christmas lows (NVDA is almost there already, as is INTC, and others). MMM WBA & DE, for example, already surpassed the Dec lows...
Sunday, February 17, 2019
Stock Market update -Feb 17th
This week we rallied... We are now approaching the 2800 level for the SPX, and will probably get there before taking a break. We've had a HUGE rally from the Christmas Eve bottom, so it wouldn't hurt to start taking some profits this week...
Bonds holding up (low rates), Gold, Oil moving up.
Continuing concerns:
Still keeping an eye on DB, China, Europe
NVDA popped a bit on earnings, after being beaten down for a quite a while
Options watch: S&P 500 Implied Volatility -still dropping! (CBOE VIX)
Link to high IV stocks
High Options volume:
This week's charts:
S&P 500 Sector performance
$NYA -how much further up?
Worst retail sales drop in 9 years is 'every bit as bad as it looks'
Bonds holding up (low rates), Gold, Oil moving up.
Continuing concerns:
Still keeping an eye on DB, China, Europe
NVDA popped a bit on earnings, after being beaten down for a quite a while
Over $21 Trillion in debt! See Debt Clock on the left, or here...
S&P 500 performance chart, 9 months -(Link)
New all time highs: ABT, AFL, AMT, ADI, BA, DG, FOXA, LLY, UNP, XLNX, WM, and more
All time lows: --
High Options volume:
| ETFs | SPY, IWM, QQQ, GLD, GDX, USO, XOP, VXX, XLF, XLE, FXI, EEM EWZ, | |
| Stocks | AAPL, AMD, BAC, BABA, FB, MU, NFLX, NVDA, TSLA |
Next week: Fed minutes
Earnings: AAP, BIDU, DPZ, CVS, WMT
This week's charts:
$NYA -NYSE Composite (link)
(IWM) Small-caps
Links...
S&P 500 - big rally from the bottom still going!
10yr Interest Rates -steady/around 3%...
ETFs - Ranked by YTD Percent ChangeS&P 500 Sector performance
$NYA -how much further up?
Crude Oil was down, closing near 55.79 - rallying above $50
Gold was down a bit, closing near 1325 -holding above $1300
The 30 year Bond was flat, closing near 146.62
The US Dollar was up, closing near 96.74
News:
Worst retail sales drop in 9 years is 'every bit as bad as it looks'
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