Investment House Weekend Wrap Up Archive
Weekender for 7/21
1. Market Summary PHLX Semiconductor Sector (SOX) gets the honorary upside index for the day. DJ30 tumbles much of the Wednesday move, but still over the 38% Fibonacci retracement, as are other key indices Economic data remain mixed but trending lower Politics distracting much of the attention from markets Ford likes electric vehicles (EVs) so […]
Weekender for 7/14
1. Market Summary Market gets its wish on CPI, sells leaders, buys small and midcaps Market again shows rotation, but this time it is zero-sum rotation. We are told the inflation trend is reversing, but it has yet to show up in the math Consumers foolishly don’t realize how wonderful they have it . . […]
Weekender for 7/7
1. Market Summary Big 4 lead higher as other areas are trying to follow Data is all negative except for the S&P data, and it is setting up an earlier rate cut Some non-techs such as metals are starting new moves A slow start in the holiday-short session, but, as with the first part of […]
Weekender for 6/30
1. Market Summary Stocks start weak, manage to recover, but this leg higher lacks the snap of prior legs Data continue to erode as headlines appear better but the details belie the top-line claims The economy is so strong companies are closing stores to reduce costs Despite all the data, it boils down to pricing […]
Weekender for 6/23
1. Market Summary Expiration approaches and the status quo is rattled. DJ20 leads the upside while PHLX Semiconductor Sector (SOX) leads the downside. Housing starts and permits bomb in May, but the Bureau of Labor Statistics (BLS) jobs report says construction gained 21,000 that month Swiss National Bank cuts rates. Philly Fed shows both “stag” […]
Weekender for 6/16
1. Market Summary Producer Price Index (PPI) follows Consumer Price Index (CPI) lower, jobless claims jump: of course stocks jump Big Four indices gap higher to new all-time highs, but just sit after the gap The other four indices languish again, losing ground The biggest names in each sector still get the money Big Four […]
Weekender for 6/9/2024
1. Market Summary Leading indices pause with a doji ahead of jobs report European Central Bank follows Canada, cuts interest rates when it likely should not have cut interest rates Jobless claims rise a bit, productivity slides Doji ahead of jobs makes sense, most likely a continuation doji that yields to more upside After the […]
Weekender for 6/2/2024
1. Market Summary Battered indices bounce, PHLX Semiconductor Sector (SOX) tests as Nvidia suffers a rare downside session Index data feed cuts out during early session selling; did that help bounce stocks? Big Nasdaq names struggle as chips, metals hold decently Bond yields soften as 10-year Treasury hits 4.6%, turns tail back down Personal Consumption […]
Weekender for 5/26
1. Market Summary Nvidia (NASDAQ: NVDA) blows higher, market follows but cannot hold the move Decliners sharply outpace on a reversal Index action returns to the February to April action DJ20 continues its dive, as DJ30 gets no new high confirmation New home sales sink but no worries because S&P Purchasing Managers’ Index (PMI) jump […]
Weekender for 5/19
1. Market Summary More anemic data adds to the interest rate cut case, but after an early bounce, stocks backtrack to test the breaks to new highs Dog catches car: DJ30 touches 40,000, fades Import prices rocket higher, but the weaker data helps Chairman Powell build his case for pre-election interest rate cuts Even as […]
