US equities capped the week on a sour note with the S&P 500 finishing down 0.71% and registering its biggest weekly decline since April (-1.97%). The Nasdaq had it even worse, falling 0.81% on Friday for a weekly decline of 3.65%. The Dow was a beneficiary of rotation on the week, posting a 0.72% weekly […]
ETFsector.com Daily Trading Outlook, July 22, 2024 Read More »
US equities capitulated to the downside on Thursday with all three of the major large cap. benchmarks posting losses along with the Russell 2000 Small Cap. Index which fell 1.85% after a week of strong gains. The Dow finished the session off 1.29% while the S&P 500 and the Nasdaq Composite finished down 0.78% and
ETFsector.com Daily Trading Outlook, July 19, 2024 Read More »
The Dow expanded upon its all-time high on Wednesday adding 0.59% while selling in the Nasdaq Composite continued with the Tech. heavy Index off -2.77%. The broad market S&P 500 was down -1.39% as laggard Sectors led the tape. XLP led, up 1.29%, while XLE added 1.00%. XLK was a big drag on the S&P
ETFsector.com Daily Trading Outlook, July 18, 2024 Read More »
Rotation to high-beta cyclicals and a Russell 2000 break-out add fuel for the Bull.
ETFsector.com Daily Trading Outlook, July 17, 2024 Read More »
Equities started the new week in the positive with the Dow posting a gain of 0.53% to pace the Large Cap. benchmarks. The Nasdaq added 0.40% while the S&P 500 moved up 0.28%. At the sector level Energy and Financials each gained more than 1.4% while Utilities sector shares were off 2.43%, followed by the
ETFsector.com Daily Trading Outlook, July 16, 2024 Read More »
GS showing steady improvement while META is suddenly on the ropes.
ETFsector.com Daily Trading Outlook, July 15, 2024 Read More »
The profit taking motive surfaced quickly with selling in TSLA and NVDA sparking broader redemptions in Mag7 positioning for the first time in July. The Dow led on the day adding 0.08% while big Tech and Mag7 selling contributed to a -1.95% correction for the Nasdaq while the S&P 500 was off 0.88%. With the
ETFsector.com Daily Trading Outlook, July 12, 2024 Read More »
Our Long-term price projection for the S&P 500 is 6140, 9% above today’s Wednesday’s closing price. We expect any correction to be accumulated around near-term support on the chart at the 5270 level
ETFsector.com Daily Trading Outlook, July 11, 2024 Read More »
The S&P 500 and the Nasdaq added to their recent record highs up 0.07% and 0.14% respectively. The Dow again lagged off 0.13%. While the major large cap. indices ended in a familiar pecking order, the sector performance spread was a bit different with the XLF taking a leadership turn for the day adding 0.70%
ETFsector.com Daily Trading Outlook, July 10, 2024 Read More »
XLF breadth was just short of a “wash out” tactical buy signal in June.
ETFsector.com Daily Trading Outlook, July 9, 2024 Read More »
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