In the theater of financial warfare, this week’s campaign was marked by a lull in both price and volume. The battlefield, despite the curious clamor of headlines, remained surprisingly dull from a volume analysis perspective. The generals, represented by the Invesco QQQ Trust (QQQ), seized command with a narrow victory, advancing a mere 0.12%. Their […]
Volume Analysis Flash Update In the latest skirmish on the financial battlefield, the S&P 500 advanced to new strategic heights, though its supply lines seemed stretched thin with below-average volume and capital flows. The assault was led by a mixed battalion of market forces. The vanguard, represented by the Invesco S&P 500 Equal Weight ETF […]
And Then There Were None XI: The Battle Rages On: A Shifting Tide Underneath the Trenches With the Federal Reserve’s promise of rate cuts providing a fresh tailwind, the troops, iShares Russell 2000 ETF (IWM), led a charge across the broad market battlefield last week, advancing 2.20%. The rest of the forces followed suit, with […]
And Then There Were None Part X The generals led the market lower this past week as the capitulation bounce lost momentum. The generals, the Invesco QQQ Trust (QQQ), fell -6.18%, with the troops, the iShares Russell 2000 ETF (IWM), following closely behind, down -5.98%. The rotation trade continued, with the brass outperforming the S&P […]
And Then There Were None Part IX While the S&P 500 managed to eke out a slight gain for the week, with the NYSE AdvanceDecline Line reaching an all-time high, the flow of capital continued to trickle out of the market. Despite the S&P 500’s modest 0.24% rise, there was noticeable divergence among market segments. […]
And Then There Were None Part IX The rotation trade saw a resurgence this past week, with the generals stepping aside as the troops led the charge. The troops, represented by the iShares Russell 2000 ETF (IWM), finished up 3.66%, while the generals (NDX) lagged behind, gaining just 1.09%. Market broadening was further evidenced by […]
And Then There Were None Part VIII – Return of the Generals The generals (Nasdaq 100) roared back this week, pulling other markets up with them. The generals finished up 5.38%, the S&P 500 rose 3.93%, and the troops (iShares Russell 2000 ETF, IWM) gained 2.97%. Rounding out the bull run, the Invesco S&P 500 […]
August 12, 2024 In recent weeks markets have been unusually active for summer. The final week of July saw numerous earnings reports, three central bank meetings, and significant labor-market data. Corporate earnings beat estimates overall, but stocks fell since the start of Q2 earnings season, as growth concerns reversed the rotation into small-caps and cyclicals, […]
And Then There Were None Part VII Last week, the markets started out deep in the gutter, with the market appearing to be heavily oversold. This oversold condition was evident from a VIX intraday high of 65 (the highest level since the pandemic), weakening sentiment, and my professional favorite, surging volume in the SPY ETF. […]
As we’ve moved beyond the midpoint of 2024, it’s a great time to reflect on market trends and look ahead to key factors that will shape the second half of the year. Market Performance in the First Half of 2024 The year started strong for U.S. stock markets. The S&P 500 saw impressive gains, rising […]