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Showing posts from March, 2018

March 31, 2018 – Weekend Market Comment

March 31, 2018 – Major U.S. markets were closed for Good Friday, while most European exchanges also remained shut for Easter Monday.  U.S. stocks rallied on Thursday, the last trading day of the month and the quarter, as the technology sector curbed steep declines seen in recent sessions.

The Dow Jones industrial average rose 254.69 points to close at 24,103.11, with Intel rising 5 percent. The S&P 500 gained 1.4 percent to 2,640.87, with tech rising 2.2 percent. The NASDAQ composite advanced 1.6 percent 7,063.44. Transports also climbed 2 percent, but were still deep in correction territory.

Shares of Facebook rose 4.4 percent, while Apple, Netflix and Alphabet also closed higher. Microsoft rose 2.1 percent after the company announced a major reorganisation. However, the S&P 500 technology sector ended the month 4 percent lower following a slew of negative news for some of the key companies in the space. Last week, reports emerged alleging that Cambridge Analytica, an analytics…

March 24, 2018 – Weekend Market Comment

March 24, 2018 – The Dow dropped more than 400 points into correction, posts worst week since Jan. 2016. Stocks fell sharply on Friday, adding to their steep weekly losses, as investors assessed the possibility of a trade war brewing between the U.S. and China.

The Dow Jones industrial average dropped 424.69 points to close at 23,533.20 — its lowest level since November — with DowDuPont as the worst-performing stock. The 30-stock index also closed in correction, down 11.6 percent from its 52-week high.

The S&P 500 declined 2.1 percent to 2,588.26, with financials pulling back 3 percent. It also closed just outside correction territory. The NASDAQ composite fell 2.4 percent to 6,992.67. The indexes, along with the Dow, had traded higher earlier in the session.

This week was ugly, as you can see by this chart.... Friday we hit the 200 day moving average!



Looks sad in our normal format too:


Here is what our charts say (and it is not pretty):
CLICK HERE: To see the 100 and 200 series charts