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Showing posts from August, 2017

August 26, 2017 – Weekend Market Comment

August 26, 2017 – U.S. stocks closed mostly higher Friday on new hopes for tax reform, with the Dow Jones industrial average notching its first weekly gain in the last three weeks.


Markets rebounded this week. The S&P 500 closed up 0.72 percent while the Dow added 139.16 points for the week. The Dow closed 30.27 points higher to end at 21,813.67, with Home Depot and IBM contributing the most to the gains. The S&P 500 ended 0.17 percent higher to close at 2,443.05, after energy and telecommunications stocks gained. The Nasdaq composite fell 0.09 percent to end at 6,265.64.


Here is how the S & P 500 did this week:



Here is what our charts say:


CLICK HERE: To see the 100 and 200 series charts




101 Bull Bear Bull market (dark green over red)  the dark green 50 day average is in a flattening uptrend.  NOTICE THE SLOPE (second window), we might be starting a big sell off.Bull market -- expect bullish outcomes. ! 103 NYSE High Low Market Forces Breadth lines CROSS up! BULLISH
105 Non Fa…

August 19, 2017 – Weekend Market Comment

August 19, 2017 – Similar (only stronger) selling pressure resumed with a vengeance Thursday, with a lot of support levels broken, to be broken with buy the dip Friday. Thursday the S&P 500 fell back below the 50-day average to the lowest level in more than a month. Volume was higher. More serious damage was done to smaller stocks. The Russell 2000 Small Cap Index closed below its 200-day average for the first time in more than a year.

U.S. equities closed off their session lows on Friday after Steve Bannon, one of President Donald Trump's top advisors, left the administration. Traders at the New York Stock Exchange literally cheered the news that Bannon was out of the administration.

Here is what the NASDAQ looked like this week:


The S&P 500 closed 0.18 percent lower at 2,425.55 , after falling as much as 0.5 percent. NBC News confirmed earlier reports that Bannon had left Trump's team. A report from Axios hinting at Bannon's departure sparked a turn higher in st…