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SHORT TERM: higher open and new highs, DOW -4 Overnight the Asian markets gained 1.4%. Europe opened higher but gained only 0.2%. US index futures were higher overnight, and the market opened 2 points above yesterday’s SPX 2833 record close. In the opening minutes the SPX hit 2839, then dipped to 2831 by 10am. Another […]
REVIEW The market started the week at SPX 2786. After a Monday holiday, the market gapped up on Tuesday to new highs (2808), then pulled back to 2769 before rebounding in the afternoon. Wednesday had another gap up opening, but the high was only 2807. Thursday the market traded above/below SPX 2800 all day with little upside […]
SHORT TERM: consolidation day, DOW -98 Overnight the Asian markets gained 0.1%. Europe opened higher and gained 0.1% as well. US index futures were lower overnight. At 8:30 building permits, housing starts, and the Philly FED were all reported lower, plus, weekly jobless claims improved. Following yesterday’s gap up opening and a 27-SPX point rally. […]
SHORT TERM: gap up opening then decline, DOW -10 Overnight the Asian markets gained 0.8%. Europe opened higher and gained 0.2%. US index futures were higher overnight, and at 8:30 the NY FED index was reported lower. The market gapped up at the open to SPX 2802, and continued on to 2808 by 10am. After […]
REVIEW The week started at SPX 2743. On Monday/Tuesday the market made new highs. Then after a pullback into Wednesday morning the market made higher highs into Friday’s close. For the week the SPX/DOW gained 1.6%, and the NDX/NAZ gained 1.5%. Economic reports were mostly positive. On the d0wntick: the PPI, plus jobless claims rose. On […]