- 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/
Please LIKE tonight’s Market Outlook video on Twitter and Facebook below:
10/31/23 - Watch the #MarketOutlook video from@MarketScholars here:https://t.co/9XIWCXFsK1
— Brandon Van Zee (@BrandonVanZee) October 31, 2023
Stocks mentioned: $SPY $SPX $QQQ $IWM $RUT $DIA $DJIA $COMP $NVDA $META $MSFT $AAPL $AMZN $TSLA $GOOGL $BA $RTX $LMT $CRSP $PAYC $CTLT $HSY $AMT $MPC $CAT $AMGN $CMCSA $LLY $VRTX $ETN
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