- The S&P 500 rose 0.65%; breadth was outstanding, with 84% of the index’s components closing in the green
- This was the 2nd straight positive session after getting oversold cluster signals last Thursday and Friday for the first time of the year
- With tomorrow being November 1st, we are now starting the strongest 3-month period (traditionally, from a seasonality perspective)
- As was the case a few times in recent weeks, the Magnificent 7 underperformed; just one of those (TSLA) beat the market
- All four major U.S. equity indices have strongly bearish postures and are trading below their falling 30-day moving averages
- The NASDAQ Composite rose 0.48%, the Dow Jones Industrials Average rose 0.38%, and the Russell 2000 rose 0.91%
- CRISPR related stocks were in focus today with a key gathering of the FDA Panel, with some positive movements that could carry into tomorrow
- Paycom (PAYC) was getting hit hard after-hours upon the negative reaction to their earnings
- You can view the month-end sector statistics for Dividend Growth Investors here: https://www.marketscholars.com/2023/10/31/dividend-stairstep-sector-statistics-10-31-23/
- For additional content, Premium members of Market Scholars are welcome to watch my 1.5 hour DGI class from earlier today, where we bought a stock for the first time in that specific class since starting Market Scholars over five years ago, due to the stock’s share price finally being attractive enough for our Trading Rules: https://www.marketscholars.com/event/dividend-growth-investing-294/
About Brandon Van Zee
Brandon is a co-founder of Market Scholars, where he builds portfolios while teaching daily interactive online classes and is a host of the Market Outlook YouTube video. His focus is on dividend growth investing, top-down trend trading, and put selling. He has been in the financial services industry and investing his own portfolios since 2000. Prior to Market Scholars, he was an Investment Instructor and Subject Matter Expert (SME) for dividend investing at TD Ameritrade’s education division, Investools. There he taught webinars, conducted in-person workshops, and helped write their Income Investing course material along with the scoring system used for dividend stocks. He was also the host of the Dividend Depot podcast and the Market Forecast YouTube video, along with writing for The Ticker Tape magazine and Coaching Corner blog. Other roles he has held in the financial industry include: Dividends/Reorganizations Specialist(RBC Wealth Management), Assistant Trader(RBC Global Asset Management), Head Trader(Provident Capital Corp), and Investment Specialist(TD Ameritrade). Brandon spends his free time traveling and enjoying summertime mountain activities(hiking, fishing, camping) with his wife and son.
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The daily Market Outlook™ video helps viewers understand important movements within the trading world and set their investing postures appropriately. This popular YouTube video offers a comprehensive review of important financial considerations utilizing technical analysis, macroeconomic analysis, and fundamental analysis. The presentation ends with an application example using a virtual trade to help put the educational theories learned into motion.
Factor Selector™ features 24 investment strategies from 6 different factors pitted against one another and ranked over multiple time periods. This tool is available for premium members of Market Scholars to utilize in Brandon Van Zee's Trading Room focused on swing trading held each Wednesday at 11:00 am ET.