Market Diary

Daily Market Report - July 11, 2024 Daily Market Report: July 11, 2024 Today’s market breadth showed significant divergence despite the major indices experiencing a sell-off. The S&P 500 (SPX) fell by 49 points, and the Nasdaq (NDX) dropped by 464 points. In contrast, the Russell 2000 (RUT) rose by 73 points, indicating inverse behavior. Market Breadth Analysis Throughout the day, the majority of tick levels were positive, with numerous upticks surpassing +1,000, and very few downticks hitting -1,000. This suggests strong underlying buying pressure despite the overall negative performance of high-cap stocks. High-Cap Stock Performance High-cap technology stocks such as Apple, Microsoft, Tesla, Nvidia, Netflix, Amazon, Meta, Airbnb, and Adobe all saw declines. This sell-off in major tech stocks dragged the indices down significantly. S&P 500 Equal Weight Index (RSP) The RSP, which equal...

Weekly Market Review: Closing the First Week of July 2024 Weekly Market Review: Closing the First Week of July 2024 Weekly Analysis: Week of July 1-5, 2024 This past week, the stock market had a short trading week due to the July 4th holiday. With only three and a half days of trading, the S&P 500 showed impressive gains, closing up 106 points. The Nasdaq also performed well, gaining 620 points, while the Russell 2000 fell by 21 points, indicating that small-cap stocks are not performing as well as their larger counterparts. Key Indices Performance S&P 500 : Up 106 points Nasdaq : Up 620 points Russell 2000 : Down 21 points The high market cap stocks in the S&P 500 and Nasdaq drove these indices upwards. In contrast, the equally weighted S&P 500 (RSP) is downtrending, showing that smaller market cap stocks are not performing as well. Market Correlati...

Monthly, Weekly, and Daily Market Analysis: June 29, 2024 Monthly, Weekly, and Daily Market Analysis: June 29, 2024 Monthly Analysis: June 2024 As we close the month of June 2024, the stock market has shown a mixed performance. The S&P 500 increased by 182.96 points, indicating a strong month for large-cap stocks. The Nasdaq surged by 997 points, reflecting robust gains in the technology sector. However, the Russell 2000, which represents small-cap stocks, declined by 22.44 points, indicating a slowdown in mid-cap and small-cap stocks. The equally weighted S&P 500 (RSP) remained sideways to down throughout the month, forming a short-term bear flag. Weekly Analysis: Week of June 24-28, 2024 On a weekly basis, the market displayed a muted performance. The S&P 500 fell by 4 points, showing little movement. The Russell 2000, on the other hand, gained 25 points, suggesting a slight pickup in small-c...

Monthly Analysis: May 2024 May 2024 turned out to be an exceptionally strong month for the markets. Historically known for its volatility, May defied expectations this year: Dow Jones : Up 870 points Nasdaq : Up 1077 points Russell 2000 : Up 96 points S&P 500 (SPX) : Up 241 points In summary, four of the last five months have seen upward trends, with only April experiencing a downturn. Weekly Analysis: Last Week of May; 22nd Week of 2024 The past week marked the end of a five-week winning streak. Here's a closer look at the weekly performance: Dow Jones : Down 383 points Nasdaq : Down 186 points Russell 2000 : Barely up 0.5 points, forming a doji pattern S&P 500 (SPX) : Down 27 points The week saw a mixed performance, with most indices facing a downturn. Friday, however, witnessed a slight recover...

Weekly Market Review: Bulls Charge Ahead as Bears Retreat on the Golf Course Weekly Market Review: Bulls Charge Ahead as Bears Retreat on the Golf Course Setup: The Opening Drive Last week on the financial market golf course, it was a hefty and grinding round. The bulls and bears battled through a slow week, characterized by low participation ahead of the upcoming long weekend. The Dow Jones Industrial Average took a significant hit, losing 934 points, while the Nasdaq showed resilience, climbing 235 points. The Russell 2000 edged down by 26 points, and the S&P 500 (SPX) barely made a move, gaining just 1 point, ending the week in a doji candlestick formation. From March onwards, the volume has been consistently slowing down, and market participants lack confidence in the upward movement of the price action. Despite low volume, prices have been rising, driven by a bid-ask process where b...

Weekly Market Review: Bullish Momentum and Historical Context Weekly Market Review: Bullish Momentum and Historical Context Market Overview As we close the 20th week of 2024 in May, the stock market has showcased a remarkable bullish trend over the past three weeks. This period has seen the bulls decisively outpace the bears, driving major indices to new heights: Dow Jones Industrial Average: Up by 490 points, crossing the historic 40,000 mark. Nasdaq (NDX): Increased by 345 points. Russell 2000: Added 35 points. S&P 500 (SPX): Rose by 80 points. This bullish momentum indicates strong investor confidence and a significant shift in market sentiment. Despite a few dips, the overall trend remains positive, with substantial buying activity observed even during sell-offs. Technical Analysis: Trends and ...

Market Overview: A Glimpse of Recovery Amidst Ongoing Challenges As we conclude the 19th week of 2024 in May, the market displayed a mix of resilience and vulnerability. Over the last eight trading days, the bulls demonstrated strength with six days closing up and only two days down, an encouraging shift following a tough April. Despite this uptick, the three-month trend remains bearish while the ten-day trend has turned positive, suggesting a short-term recovery. However, the closing of the week revealed some weaknesses; despite an overall up day on Friday, bulls struggled to maintain the highs from earlier in the week, and bears managed to exert pressure, pulling the prices down slightly by the day’s close. Technical Analysis: Navigating Mixed Signals The long-term market trend is bucking April's downturn, nearing an all-time high in the S&P 500...

Monthly Market Review: April's Unexpected Decline and May's Outlook Monthly Market Review: April's Unexpected Decline and May's Outlook April: A Downward Shift in the Market April marked the first down month of 2024, with significant declines across major indices. The S&P 500 (SPX) fell by 218 points, the Nasdaq (NDX) dropped by 721 points, and the Russell 2000 (Russel) declined by 150 points. Typically a mild or upward-trending month, April's downturn was influenced by macro-political issues that escalated market volatility, continuing the exuberant price actions from the previous month. May Forecast: Debunking "Sell in May and Go Away" Contrary to the old market adage "Sell in May and go away," the last 10-15 years have not supported this strategy statistically. May tends to be a highly volatile month,...

Weekly Market Review: A Glimmer of Hope Amidst Volatility Weekly Market Review: A Glimmer of Hope Amidst Volatility Market Recovery: Bulls Find Solace After three weeks of a relentless downturn, the market finally saw an uptick this week, offering a much-needed breather for both bears and bulls. The Dow Jones Industrial Average rose by 253 points, while the Nasdaq Composite soared by 645 points. The Russell 2000 Index gained 54 points, and the S&P 500 increased by 132 points, marking one of the best weeks of the year for the SPX and NDX. This positive movement has provided some optimism for bulls hoping for a continuation of this trend. However, breadth indicators remain less confident, signaling that investors should remain vigilant and respond prudently to price actions. Technical Analysis: Bearish Signs Persist Despite the recent uplift, both...