All Blog Entries

After another strong open, stocks drifted lower the rest of the day with the Dow, S&P 500, and small caps closing near the lows of the day, although the small caps did hold onto a modest gain. UnitedHealth, the heaviest weighted stock in the Dow Jones, was drag on the Dow and large cap tech helped the S&P 500, but the equal Weighted S&P 500 was down about double the loss of the S&P 500. Bonds were up with the 10-year Treasury moving down on the day.

...

Greetings

A quick review of August: This was the first month we've closed down since last February.

While we did close down -1.77%, this isn't bad when you consider off the 18-Aug bottom we were down -5.53% intra-month. For ranking all Aug from 1960, we finished 46th best of 64, placing Aug-2023 in the bottom 28%.

The chart below shows we dipped below -4.06% (the average-of-loses), but managed to recover a portion of the loss with a -1.77% finish.
...

Stocks opened higher on Wednesday, hit intraday highs shortly after the opening bell, then moved mostly sideways the rest of the day and closed up, but off the highs. It was impressive that the bulls were able to hold onto most of those early gains into the close because the indices may have been due for a pause and the bears had been selling every rally before this week, but not so much this week. Whether that's because it is a pre-holiday reversal week, or because there has been a change in ...

After four straight negative Tuesdays, the fifth Tuesday in August was a big one for stocks with most indices popping between 1% and 2%. It is a pre-holiday week and that makes me a little suspicious, but the gains were real and the question is if, or how long, they can last? The charts improved greatly and the view on inflation seems to have shifted as yields fell sharply and the dollar created a negative reversal day. So, pre-holiday reversal - or the real deal?

...

Just another positive Monday for the stock market making it 9 consecutive Mondays with a gain for the S&P 500. That can't last forever but neither can the current string of 4 consecutive negative Tuesdays, all in August, heading into the last Tuesday of the month. The Dow gained 213-points yesterday as yields and the dollar slipped lower on the day, creating a slight breeze at the backs of the indices. As the recent bounce off the lows grows, important resistance tests will be next. ...