Trading in a 75-point range on either side of neutral, the Dow Jones Industrial Average rose 18.88 points, or 0.1 percent, to 17,098.45, gaining 0.6 percent for the week and 3.2 percent in August. Up 0.8 percent from a week ago and 3.8 percent for the month, the S&P 500 rose 6.63 points, or 0.3 percent, to 2003.37, with financials the best performing and industrials faring the worst of its 10 major industry groups. The Nasdaq gained 22.58 points, or 0.5 percent, to 4,580.27, up 0.9 percent for the week and 4.8 percent for August. For every stock that fell, more than two rose on the New York Stock Exchange, where almost 617 million shares traded. Composite volume neared 2.3 billion shares.
The real question is... is this the end of the run up with the S & P 500 at a new record or do we continue from here? Well for starters global news this week was less than happy, with Russia and Iraq dominating the headlines, still the market did not run and hide. To me that generally shows resilience and that the market is being run but what is known as "strong hands" -- in other words the pros are buying.
The Primary Sell has skirted the zero line and probably wants to turn up.
Another sign of good things going on is On Balance Volume in a up trend and following the market.
The Nasdaq Summation index is a lagging indicator but look positive
Just remember, Septembers is coming and the pros are getting back to their desks this can be a volatile as portfolios are adjusted and exchange volume increases. We also have another 911 anniversary to deal with. You can read more about ups and downs in September here.
I am going to be brief this week since I am just back from sailing in Desolation Sound
You can learn more about my indicators by visiting the CME4PIF school by clicking here.