weeklyanalysis07252009
Monday:
Stocks closed with nice gains Monday, thanks to reports that troubled commercial lender CIT Group (CIT) would get $3 billion in emergency funding.
Meanwhile, the Nasdaq extended its win streak to nine sessions, gaining 1.2%.
The Philadelphia semiconductor index rose 1.1% â also a nine-month high.
Tuesday:
Indexes ended higher Tuesday, extending their recent gains as some bellwether companies released results after the close.
10 session win streak for Nasdaq.
Leaders not up really strong in volume.
Still didn't reach upside target.
Volume rose.
Solar issues bucked the weakness on news that China unveiled a plan that'll offer heavy subsidies for solar projects.
Things are really moving and firing. Vix down more.
The Nasdaq's June 16 distribution day also fell off the count, leaving it with no distribution days.That significantly eases the institutional selling in the current market.
The IBD 100 fell 0.3% Tuesday.
Wednesday:
A mixed round of earnings reports sent stocks scrambling for direction Wednesday. Only the Nasdaq finished with gains, while other indexes stepped back.
That marked the index's 11th straight gain. Its last 11-session win streak was in September 1996.
Volume fell on both major exchanges.
Still, chip stocks showed strength again as the Philadelphia semiconductor index jumped 2.4% to a nine-month high.
A spate of Chinese dot-coms fared well Wednesday.
Tech stocks led the way early on, buoyed by Apple's (AAPL) bullish earnings report late Tuesday. The iPod and iPhone maker gapped up at the opening bell, rising 4% in massive turnover.
Corporate earnings news continued to dominate the headlines.
The news wasn't as bright in the financial sector.
Thursday:
Earnings, M&A news and better-than-forecast housing data boosted stocks to new multimonth highs Thursday.
The Nasdaq extended its win streak to 12 sessions, up 2.5%.
Volume ran vastly higher on both exchanges.
Some leaders didn't fare well.
The action wiped out the last remaining distribution days.
The IBD 100 lagged the major indexes, adding only 1.6%.
Vix: 23.5
Dow closes above 9000.
Friday:
While stocks ended mixed after a choppy session Friday, they capped the week with good gains.
The Nasdaq slipped 0.4%, snapping its 12-session win streak.
Turnover fell sharply on both exchanges.
Despite the day's split results, the indexes ramped higher for the second straight week and are at eight- and nine-month highs.
For the week, the NYSE composite rose 5%, the Nasdaq 4.2%, the S&P 500 4.1% and the Dow 4%.
In commodities news, crude oil prices sank 29 cents to $66.87 a barrel.
The IBD 100 led the indexes Friday with a 0.6% gain, as this gauge of leading stocks reached its highest level since February.
weeklyanalysis08012009
Monday:
Stocks rose modestly Monday, extending their two-week advance. A round of mixed earnings reports and outlooks from Aetna and Honeywell pressured stocks for the bulk of the session, but equities showed resilience and rallied to finish higher.
Volume rose on the NYSE and slipped on the Nasdaq.
Stocks have improved following news that new-home sales surged 11% to a seasonally adjusted rate of 384,000, well above estimates.
In a taping of a PBS special slated to air this week, Bernanke said it takes GDP growth of around 2.5% to keep the jobless rate constant. Economic growth likely won't be robust enough during the latter half of 2009 to lower the jobless rate, Bernanke said. The unemployment rate was 9.5 percent in June.
In fact, the action looked like typical bull-market behavior: Early weakness turned into afternoon strength. And the market's remarkable run simply continued.
The market's leaders paused from their recent heady gains. The IBD 100, a proxy for the best stocks, fell 0.4%.
Tuesday:
Major indexes finished mixed as investors digested a flood of corporate earnings reports, M&A news and economic data.
The Conference Board reported its consumer confidence gauge fell to 46.6 in July, down from 49.3 in June and below estimates.
Turnover rose across the board, especially on the NYSE. The higher trade gave a distribution day to the NYSE composite and S&P 500.
Again, the action looked like typical bull-market behavior: Early weakness turned into afternoon strength.
The tech-rich index forged ahead, marking its 14th advance in 15 recent sessions.
Leading stocks saw mixed results, with some prominent up- and downside moves for the day.
Wednesday:
Shanghai composite closes off 5%.
Two days of weakness in solar stocks.
The Commerce Department said durable goods orders fell 2.5% in June. That was the biggest drop since January, well below May's 1.3% gain and below estimates calling for a 0.6% pullback.
Excluding transportation, orders climbed 1.1% in June, topping estimates calling for flat growth.
Oil prices fell below $66 a barrel early Wednesday, reflecting a weak demand outlook, declining U.S. consumer confidence and rising crude inventories.
Thursday:
A mixed durable goods report and a weak bond auction pressured stocks Wednesday, but a late-session rally eased some of the pain.
Crude oil slumped almost 6%, settling at $63.35 a barrel on a surprising build in inventories.
Volume ticked up on the NYSE and fell on the Nasdaq, according to preliminary data.
The Fed's beige book noted continued weakness in economic activity. But the pace of decline has moderated or stabilized in most districts, it said. Retail sales were slow in most regions, but a few districts reported improvements in manufacturing activity.
Friday:
A drop in continuing jobless claims boosted stocks Thursday. Most indexes hit their best levels since November, but a late-day sell-off pared some gains.
Volume climbed on both exchanges.
Stocks finished mixed after a lackluster session Friday, but they closed out the week and month with gains.
Before the open, the Commerce Dept. said the economy contracted 1% in the second quarter. That's better than views for a 1.5% drop. But there was a sharp revision to the Q1 GDP, and the consumer spending component fell.
Volume dropped off across the board.
SOo, what does it all mean?
First off the indexes have finally rallied for a 4+ mo. period and have yet to engage in a classic (10%+) correction. My systems hugely outperform by accurately targeting market trends.
With the sudden and sharp run-up, it benefits me when/if the market corrects which it again <i>conveniently</i> avoided. So we simply follow in it's tracks and wait for the inevitable.
Meanwhile, my ETF and covered call systems have benefitted with strong gains off the bottom. My futures system has simply held onto past gains, however the routine shifts will benefit the long-term trend upwards and beyond.
Most probably noticed the innocuous few day 10%+ rally that occurred after a ~7.5% market drop. Very frustrating to have missed the gains in my futures fund - that I went too cautious in - but enabled me to re-evaluate my basic allocation schedule and to put more faith in sticking to it.
All systems remain well on track for long-term growth prospects!
pay$
Monday:
Stocks closed with nice gains Monday, thanks to reports that troubled commercial lender CIT Group (CIT) would get $3 billion in emergency funding.
Meanwhile, the Nasdaq extended its win streak to nine sessions, gaining 1.2%.
The Philadelphia semiconductor index rose 1.1% â also a nine-month high.
Tuesday:
Indexes ended higher Tuesday, extending their recent gains as some bellwether companies released results after the close.
10 session win streak for Nasdaq.
Leaders not up really strong in volume.
Still didn't reach upside target.
Volume rose.
Solar issues bucked the weakness on news that China unveiled a plan that'll offer heavy subsidies for solar projects.
Things are really moving and firing. Vix down more.
The Nasdaq's June 16 distribution day also fell off the count, leaving it with no distribution days.That significantly eases the institutional selling in the current market.
The IBD 100 fell 0.3% Tuesday.
Wednesday:
A mixed round of earnings reports sent stocks scrambling for direction Wednesday. Only the Nasdaq finished with gains, while other indexes stepped back.
That marked the index's 11th straight gain. Its last 11-session win streak was in September 1996.
Volume fell on both major exchanges.
Still, chip stocks showed strength again as the Philadelphia semiconductor index jumped 2.4% to a nine-month high.
A spate of Chinese dot-coms fared well Wednesday.
Tech stocks led the way early on, buoyed by Apple's (AAPL) bullish earnings report late Tuesday. The iPod and iPhone maker gapped up at the opening bell, rising 4% in massive turnover.
Corporate earnings news continued to dominate the headlines.
The news wasn't as bright in the financial sector.
Thursday:
Earnings, M&A news and better-than-forecast housing data boosted stocks to new multimonth highs Thursday.
The Nasdaq extended its win streak to 12 sessions, up 2.5%.
Volume ran vastly higher on both exchanges.
Some leaders didn't fare well.
The action wiped out the last remaining distribution days.
The IBD 100 lagged the major indexes, adding only 1.6%.
Vix: 23.5
Dow closes above 9000.
Friday:
While stocks ended mixed after a choppy session Friday, they capped the week with good gains.
The Nasdaq slipped 0.4%, snapping its 12-session win streak.
Turnover fell sharply on both exchanges.
Despite the day's split results, the indexes ramped higher for the second straight week and are at eight- and nine-month highs.
For the week, the NYSE composite rose 5%, the Nasdaq 4.2%, the S&P 500 4.1% and the Dow 4%.
In commodities news, crude oil prices sank 29 cents to $66.87 a barrel.
The IBD 100 led the indexes Friday with a 0.6% gain, as this gauge of leading stocks reached its highest level since February.
weeklyanalysis08012009
Monday:
Stocks rose modestly Monday, extending their two-week advance. A round of mixed earnings reports and outlooks from Aetna and Honeywell pressured stocks for the bulk of the session, but equities showed resilience and rallied to finish higher.
Volume rose on the NYSE and slipped on the Nasdaq.
Stocks have improved following news that new-home sales surged 11% to a seasonally adjusted rate of 384,000, well above estimates.
In a taping of a PBS special slated to air this week, Bernanke said it takes GDP growth of around 2.5% to keep the jobless rate constant. Economic growth likely won't be robust enough during the latter half of 2009 to lower the jobless rate, Bernanke said. The unemployment rate was 9.5 percent in June.
In fact, the action looked like typical bull-market behavior: Early weakness turned into afternoon strength. And the market's remarkable run simply continued.
The market's leaders paused from their recent heady gains. The IBD 100, a proxy for the best stocks, fell 0.4%.
Tuesday:
Major indexes finished mixed as investors digested a flood of corporate earnings reports, M&A news and economic data.
The Conference Board reported its consumer confidence gauge fell to 46.6 in July, down from 49.3 in June and below estimates.
Turnover rose across the board, especially on the NYSE. The higher trade gave a distribution day to the NYSE composite and S&P 500.
Again, the action looked like typical bull-market behavior: Early weakness turned into afternoon strength.
The tech-rich index forged ahead, marking its 14th advance in 15 recent sessions.
Leading stocks saw mixed results, with some prominent up- and downside moves for the day.
Wednesday:
Shanghai composite closes off 5%.
Two days of weakness in solar stocks.
The Commerce Department said durable goods orders fell 2.5% in June. That was the biggest drop since January, well below May's 1.3% gain and below estimates calling for a 0.6% pullback.
Excluding transportation, orders climbed 1.1% in June, topping estimates calling for flat growth.
Oil prices fell below $66 a barrel early Wednesday, reflecting a weak demand outlook, declining U.S. consumer confidence and rising crude inventories.
Thursday:
A mixed durable goods report and a weak bond auction pressured stocks Wednesday, but a late-session rally eased some of the pain.
Crude oil slumped almost 6%, settling at $63.35 a barrel on a surprising build in inventories.
Volume ticked up on the NYSE and fell on the Nasdaq, according to preliminary data.
The Fed's beige book noted continued weakness in economic activity. But the pace of decline has moderated or stabilized in most districts, it said. Retail sales were slow in most regions, but a few districts reported improvements in manufacturing activity.
Friday:
A drop in continuing jobless claims boosted stocks Thursday. Most indexes hit their best levels since November, but a late-day sell-off pared some gains.
Volume climbed on both exchanges.
Stocks finished mixed after a lackluster session Friday, but they closed out the week and month with gains.
Before the open, the Commerce Dept. said the economy contracted 1% in the second quarter. That's better than views for a 1.5% drop. But there was a sharp revision to the Q1 GDP, and the consumer spending component fell.
Volume dropped off across the board.
SOo, what does it all mean?
First off the indexes have finally rallied for a 4+ mo. period and have yet to engage in a classic (10%+) correction. My systems hugely outperform by accurately targeting market trends.
With the sudden and sharp run-up, it benefits me when/if the market corrects which it again <i>conveniently</i> avoided. So we simply follow in it's tracks and wait for the inevitable.
Meanwhile, my ETF and covered call systems have benefitted with strong gains off the bottom. My futures system has simply held onto past gains, however the routine shifts will benefit the long-term trend upwards and beyond.
Most probably noticed the innocuous few day 10%+ rally that occurred after a ~7.5% market drop. Very frustrating to have missed the gains in my futures fund - that I went too cautious in - but enabled me to re-evaluate my basic allocation schedule and to put more faith in sticking to it.
All systems remain well on track for long-term growth prospects!
pay$
