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 up and traded sideways in a narrow range day, adding to Friday's advance. The Nasdaq gained +44 points (+1.08%) and made another new high. The S&P climbed +9 points (+.53%) and the Dow closed up +73 points (+0.45%); both made all time highs.
Advancers beat decliners by a 2.5 to 1 ratio. Up volume beat down volume by a 3 to 1 ratio. Today was also the second day in a row that the market closed above the highs of the Nov-Dec range pattern. The new highs also means the chances of a market correction are lessened. For now, the market is in long mode.
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
