- The S&P 500 fell 0.64%; once again, the action under the surface felt more bearish than the end result with just 12% of stocks closing in the green
- GOOG, NVDA, and MSFT offset the losses in hundreds of other smaller companies; for instance, all Energy and Utilities stocks were lower today
- The S&P 500 is now trading below its falling 30 day moving average, and has a weakly bearish intermediate posture
- The Dow Jones Industrial Average (strongly bearish posture) was hit worse (due to poor Home Depot earnings); it closed lower by 1.01%
- The NASDAQ Composite continues to be the leader; it achieved 8-month highs on an intraday basis before closing lower by just 0.18%
- The NASDAQ Composite again closed above its rising 30 day moving average and has a strongly bullish posture
- The Russell 2000 (-1.44%) was the day’s worst performer with most Financials struggling once again; it has a strongly bearish posture
- The Russell 2000 and Dow Jones Industrial Average are both trading below their 30 day moving averages
- The NASDAQ Composite is the only major U.S. equity index with a “3 Green Arrows” signal; the Dow and Russell 2000 have “3 Red Arrows” signals
- The Russell 2000 remains the only major U.S. equity index with a death cross on the 10/40 weekly crossover chart
- For additional content, I’d invite our Premium members to watch my Dividend Growth Investing class from earlier today; the recording can be found here: https://www.marketscholars.com/event/dividend-growth-investing-270/
Visited 29 times, 1 visit(s) today
You must be logged in to post a comment.