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Showing posts from May, 2018

May 26, 2018 – Weekend Market Comment

May 26, 2018 – U.S. stocks fell Friday as geopolitical fears following President Donald Trump's move to cancel a key summit with North Korea weighed on solid corporate earnings.

The Dow Jones industrial average dropped 58.7 points to finish at 24,753.09, led lower by losses in Chevron and Exxon Mobil. The S&P 500 declined 0.24 percent to finish at 2,721.33, amid continued losses in energy and financial stocks.

A decline in oil prices weighed on industry leaders like Exxon Mobil and Chevron, which closed down 3.5 percent Friday. U.S. West Texas Intermediate crude futures fell $2.83, or 4 percent, to settle at $67.88 on Friday after several headlines suggested OPEC and non-OPEC members could increase supply. Russian Energy Minister Alexander Novak met with his Saudi counterpart, Khalid Al-Falih, in St. Petersburg to discuss current output caps. The move Friday represented WTI crude's worst day since July 2017; oil is off more than 7 percent from recent highs above $72.

The U.S…

May 19, 2018 – Weekend Market Comment

May 19, 2018 – The S&P 500 traded slightly lower on Friday as tensions between the U.S. and China weighed a bit on investor sentiment while both countries continued further negotiations on trade.

The broad index fell a tiny 0.3 percent to 2,712.97 with energy and financials lagging. The Nasdaq composite declined slightly by 0.4 percent to 7,354.34. The Dow, in a flight to quality, bucked the negative trend, closing just above the flat-line at 24,715.09 as Boeing and Caterpillar shares rose 2.1 percent and 1.3 percent, respectively.

Here is what our charts say:
100 Series: In Market? Aggressive or Defensive?   CLICK HERE: View 100 series charts

101 Bull Bear Bull market (dark green over red)  the dark green 50-day average is in an upward trend. Notice the second window, the slope is crossing slowly over zero and improving. That means we can expect good things to come.   BULLISHBull market -- expect bullish outcomes.
103 NYSE 52-week high low market forces Breadth positive. Looks like ste…