July 2024 Monthly and First Week of August Market Review July 2024 Monthly and First Week of August Market Review Monthly Performance Overview S&P 500 July 2024 was a positive month for the S&P 500, with the index closing up 61 points. Although this was the least performing month for the S&P 500 this year, the index managed to maintain its upward momentum. The best day for the S&P 500 was on July 31st, which saw an impressive gain of 85.86 points, ultimately saving the index's performance for the month. Dow Jones The Dow Jones had its best month of the year, surging 1723 points in July. This remarkable performance underscores the strength of blue-chip stocks, which outperformed other indices during the month. Nasdaq In contrast, the Nasdaq struggled in July, losing 133 points. This marks Nasdaq as the worst-performing major index for the month. The technology sector faced headwinds that dampe...
"Trade what you see, not what you hope" emphasizes the importance of basing trading decisions on objective market analysis rather than wishful thinking. It advocates for a disciplined approach, relying on observable data and trends rather than emotional desires for market performance. This principle underlines the necessity of a strategy grounded in real-time insights and technical analysis to navigate financial markets effectively.