Weekly Market Recap Jul 23, 2017

This past week represented so many of the weeks of 2017; slow action with a bit of an upward skew. Monday, Tuesday, Thursday were sleeping - and minor gains Wednesday were offset by small losses Friday; in the end we had small gains for the week! Rinse, wash, repeat. For the week the S&P 500 added 0.5% and the NASDAQ 1.2%. Sixty eight S&P 500 companies reported earnings this past...

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Weekly Market Recap Jul 16, 2017

Market bulls continue to make anyone even moderately cautious (hand raised) look a fool. A technical breakout mid week on the indexes took the market out of a sleepy range that was looking a bit dangerous. Monday and Tuesday were the normal sleepiness we've come to expect from this slow and steady grind up of 2017 but some fireworks Wednesday and Friday. Earnings season began in earnest...

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Weekly Market Recap Jul 09, 2017

Some more volatility hit late this past week but any pullback of note (Thursday) still has bulls rushing in (Friday). Modest moves Monday and Wednesday sandwiched the holiday on Tuesday. The "rotation out of tech" continued most of this week: “The rotation out of tech is dominating stocks and is the overarching theme in the market,” Mike Antonelli, equity sales trader at Robert W. Baird...

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Weekly Market Recap Jul 02, 2017

Some volatility was reintroduced to the market this past week as <0.80% moves on the S&P 500 (and even larger moves on the NASDAQ) happened Tue, Wed, and Thu. This is certainly a welcome change from a trading (and writing perspective) from the relatively monotone move upward almost all of 2017! Losses Tuesday accelerated after Republican Senate leaders postponed a vote on the...

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Weekly Market Recap Jun 25, 2017

Relatively large moves Monday (up) and Tuesday (down) were followed by the small volatility the rest of the week that has marked almost all of 2017. The NASDAQ jumped 1.4% Monday, the largest gain since Nov 7th as the relatively moderate selling the prior week was offset. “Tech got beat up unfavorably over the past week or two, but as the group’s earnings remain strong, we expect buyers are...

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Weekly Market Recap Jun 18, 2017

A week ago Friday the NASDAQ put in an "outside reversal" day - this is approximately a day where the trading range exceeds both the prior day's intraday high and intraday low, and then a close below the prior day's intraday low. See our NASDAQ chart from a week ago below: This is often a quite bearish signal, but the market has been so immune to any real selling for so long, it has been...

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Weekly Market Recap Jun 11, 2017

Four placid days led to a Friday that in recent terms would be considered "wild" but in 2008 terms would be considered a "quiet session". There was some actual volatility Friday as indexes gapped up and ran before reversing sharply mid morning and sell off, led by the giant tech stocks that have been the stars of 2017. If that is a precursor of anything or algorithms gone wild for a few...

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