10:17:12 PM EDT |
Nasdaq Still Leading
The major indexes excluding the Nasdaq all posted single digit gains on Friday. The Nasdaq surged to another new high.
5:55:49 PM EDT |
The indices hover near all time highs as profit taking caps near term gains.
8:28:49 PM EDT |
Bulls Tacking On New Highs
It's been slow steady progress for the bulls as they make the rally 11 days in a row and new all-time highs 5 days in a row. There seems to be little in the way of higher prices, except for perhaps the level of complacency creeping into the market. But clearly the bulls rule for now.
5:45:02 PM EDT |
Janet Yellen's testimony before congress began today and was largely uneventful. She used the words â€œconsiderable progressâ€ in relation to the Fed's mandate and the market liked what it heard.
6:23:19 PM EDT |
Another New High
The indices set new all time highs, this time confirmed by the Dow Jones Transportation Average.
9:22:50 PM EDT |
All but one of the broad market indexes closed at a new high on Friday after two days of breakout gains.
5:24:20 PM EDT |
Trump announced his tax reform plan is a mere weeks away, and the market set new all time highs.
8:07:20 PM EDT |
Bulls Trying To Hold On
Other than the techs making minor new highs each day (only NDX today), the rest of the indexes are struggling just to hold onto recent gains. The bulls haven't done anything wrong yet but there are plenty of signs that they're weakening. This year's rally is looking like it's on wobbly legs.
9:23:40 PM EDT |
The Nasdaq indexes both made new highs but the Dow and S&P struggled to gain ground.
7:02:44 PM EDT |
The indices pulled back from Friday's close on geopolitical inspired caution.
4:44:15 PM EDT |
Forget Last Week
Just pretend last week never happened because the markets closed almost exactly the same place as the prior Friday.
5:29:04 PM EDT |
Another day of uncertainty, another day with the market hanging out near the latest all-time highs.
7:55:52 PM EDT |
Bulls Weak But Holding On
This week we've seen rally attempts get sold into. But then the morning lows have been followed by a bounce back up and the two things combined has it looking like controlled selling (distribution) and it provides a warning sign. But it doesn't prevent new highs for at least some of the indexes, such as the techs, although it might be a choppy ride higher.
10:26:11 PM EDT |
The markets crashed again at the open but a rebound in the biotech sector rescued the Russell and Nasdaq from big losses.
6:07:41 PM EDT |
Oh the difference a weekend makes.
11:41:25 PM EDT |
Dog Catches Car
Dogs of all types have fun chasing cars but disaster can strike when they catch one.
5:18:10 PM EDT |
New All Time Highs
The market pulled back slightly from new all time closing highs, but not before setting new intra-day all time highs.
8:25:54 PM EDT |
Dow 20K Party Hats Are Out!
It seemed to take forever to climb those last 100 points to 20K for the Dow but it finally did it today. Helped with an overnight rally (the best way this market knows how to deal with resistance), the bulls added buying pressure to the short covering and kept the Dow above 20K. Do I hear 30K?
9:27:51 PM EDT |
Animal Spirits Return
The markets finally posted a decent day where every index participated and the Nasdaq was roaring.
6:23:44 PM EDT |
The Age Of Trump
A cautious market hangs tough as President Trump gets down to business.
6:58:34 PM EDT |
Event Risk Over
The inauguration was completed successfully and without a lot of market volatility.
5:41:29 PM EDT |
Market drift continues on the eve of Donald Trump's inauguration. Meanwhile, earnings, economic data and central bank activity help drive volatility.
8:47:59 PM EDT |
Waiting for Inauguration Day
The stock market has been hold for several weeks following the initial "Trump" rally. That hope-filled rally is now facing the reality that all the changes that would help the stock market might struggle to become reality. Now it's waiting for some additional information that will support a continuation of the rally and many are expecting disappointment instead.
9:52:24 PM EDT |
Normal storms do not bother the equity market but this storm could cause serious damage.
9:54:34 PM EDT |
Five Week Pattern
For the last five weeks, the Dow has traded in a narrow 250-point range and still has not hit 20,000.
5:28:32 PM EDT |
Indices fell in the wake of Trump's 1st press conference post-election.
8:04:07 PM EDT |
Bulls Keeping the Bears Away
The stock market's rally looks tired and the bears are licking their chops while eyeing the bulls as just slabs of beef. But the bulls keep going and keep frustrating the bears by aborting any selling attempts. This could continue into next week.
9:26:46 PM EDT |
Which Way Did They Go?
The market reminds me of an old Abbott and Costello routine, Which Way Did They Go.
5:48:04 PM EDT |
Treading Water, Waiting
The indices tread water, once again, just below current all time highs waiting on earnings, the economy, the FOMC and Trump's inauguration.
7:54:20 PM EDT |
The Dow came very close to the 20,000 level only to miss it by 0.37 of a point.
7:30:37 PM EDT |
Almost, But Not Quite
The Dow came within spitting distance of 20K yet again, and backed away, again, while a wave of Trump-Tweets washes over the market.
8:21:46 PM EDT |
Santa Is Late To the Party
I'm guessing Santa partied a little too hard in the days leading up to Christmas and he was too hung over to help the market rally in the final week of 2016. But he showed up the past two days to finish out the period known as the "Santa Claus" rally. Now we wait to see if he can make up for last week's loss.
9:50:31 PM EDT |
After a week of declines, the Santa Rally returned to lift the Dow by +175 points at the open.
7:50:09 PM EDT |
Happy New Year
Regardless of what January brings, I expect 2017 to be a very good year!