Waiting for Directions Stocks wavered but continued to advance this week as traders assessed the outlook for corporate earnings ahead of a new reporting cycle. Equity market momentum slowed this week as the S&P 500 Index gained just 0.2% compared to month-to-date and year-to-date advances of 2.9% and 9.7% respectively. The S&P 500’s advance still...
Equities are Moving Like a Tremendous Machine Equities are starting to look like Secretariat at the Belmont Stakes. All major indices closed higher on the week and at all-time highs. They are currently in their ninth consecutive week with a Relative Strength Index (RSI) reading above 70. This is often cited as the key level...
Equity Markets Continue to Rise Another week and another new record high was reached in the stock market, although equities sold off slightly after touching the new record level. The S&P 500 finished up 1.2%, while the NASDAQ rose 0.9%. The Magnificent 7 outperformed the broader markets during the week. Small caps underperformed large caps,...