Staying in touch with current events and market action is important for trading success. This blog contains topics of interest that relate to individual stocks, market indices, market sectors/industries, and ETFs.
On Monday, the market opened with an intraday bear trap. The S&P futures dipped to -15 points before turning up and forming an intraday V-bottom. By 11 am, the S&P had returned to Friday's closing price of 1,881. It closed slightly higher at 1,884… Last week, the Nasdaq, S&P, and Dow all had up weeks. The Nasdaq gained +1.19%, the S&P rose +0.95%, and the Dow advanced +0.93%. But volume was not impressive and many stocks breaking out to new highs do not have strong fundamentals. Strong sectors… The first day of May ended with mixed results and didn't provide investors with a clear indication of where the market is headed. The Nasdaq rose +12 points (+0.31%) on higher volume, but the S&P ended almost flat on lower volume. The Dow fell -21… On Thursday, was market was volatile in the morning session. The S&P opened up +6 points, then it fell -11 points in the first 30 minutes. For the remainder of the day, the market settled down and traded inside the high and low of the morning… On Wednesday, the market fell off of the open, and then it ranged sideways for the rest of the day. This was a day when the BIGs sat mostly on the sidelines. All three major indices declined on the day. The Nasdaq Composite gave back -34 points…ProTrend ProFiles
Market Sets Intraday Bear Trap
A Market Out of Sync
Market Ends Mixed
A Volatile Day Give No Direction
A Day Telling Us Little
Historically, August is one of the 4 worst performing months for the S&P 500 (source: Stock Trader's Almanac). This year, the S&P's performance in August fit the history, falling -2.8% during a market correction. The large, blue arrow represents the month of August....keep reading