4-Week Losing Streak For S&P 500 And DOW

The stock market is trying to end the week on a daily positive note as we head into the close. The S&P 500 is +.9%, the DOW +.6%, and NASDAQ rounds out the positive run with a gain of over +1%, which has helped turn the week positive for the NASDAQ. However, the S&P 500 and DOW will post weekly losses marking four straight weeks losses.

On a weekly level, the S&P 500 will post a weekly loss of about -1.4%, joining the DOW, which will post a weekly loss of about -2.5%. The NASDAQ was looking at a weekly loss heading into the close, but afternoon strength in the tech sector was able to push it into positive territory with a gain of roughly +.25%.

But looking at the bigger picture, the major indexes have had a tough month, with the S&P 500 falling more than -6% in September. The DOW has dropped -5.2% over that time period, and the NASDAQ is down -8.2% month to date. September has certainly lived up to the hype. Continue reading "4-Week Losing Streak For S&P 500 And DOW"

September Blues Continue For Stocks

Historically speaking, September tends to be a weak month for the stock market. September has been the worst-performing month for markets, on average, since 1950, with the S&P 500 (SP500) dropping on average about -1% since 1950. And this September is no different as we prepare for the third week of trading. As we stand, the S&P 500 is down just a hair over -5% on the month, the DOW has lost -2.6%, and the NASDAQ has fared the worst with a loss standing at -8%. If we don't see a second-half rally, the stock market will post its first monthly loss in 5 months.

Will we see a late-month rally? Or are we headed lower?

On a daily level, both the S&P 500 and NASDAQ closed out Friday trading with losses over -1% with the S&P 500 losing -1.12%, and the NASDAQ lost -1.07%. The DOW fared slightly better, only losing -.88% after being down over -1% earlier in the day. Continue reading "September Blues Continue For Stocks"

Trade Triangles Signal Trouble Ahead

The DOW had been up as much as 249 points in early trading Friday before finally succumbing to sell-off pressure following the NASDAQ and S&P 500 lower in afternoon trading. As this video was recorded, the DOW was flat, drifting in and out of negative territory. The NASDAQ was down over -1%, and the S&P 500 was down -.39%. But the real story is the Trade Triangles.

At the beginning of the week, all three indexes triggered new red weekly Trade Triangles indicating that a move to a sidelines position is in order for the market. The Trade Triangles were triggered when the S&P 500 lost -2.7%, the DOW -2%, and the NASDAQ -4% as tech continued its sell-off from the previous week.

On a weekly level, all three indexes are looking at weekly losses of over Continue reading "Trade Triangles Signal Trouble Ahead"

Stock Market Winning Streak Ends

Stocks ended the day and week lower in a wild two-day trading session to end the week. The DOW closed 159.42 points lower or -0.6%, at 28,133.31. At one point, it fell as much as 628 points before reversing course in the late afternoon. The S&P 500 slid -0.8% to 3,426.96, and the NASDAQ fell -1.3% to 11,313.13 to post back to back losing days.

On a weekly level, both the S&P 500 and NASDAQ ended their 5-week winning streaks with the S&P 500 falling -2.3% and the NASDAQ losing -3.2% as the tech sector sold-off. The DOW ended a four-week losing streak falling -1.8% for the week.

One of the few bright spots in the overall market was the US dollar, which posted a weekly gain of +.75% as traders bailed out of the safe-haven assets and piled into the dollar. Which, in turn, caused gold to lose -1.6% on the week. Continue reading "Stock Market Winning Streak Ends"

DOW Erases 2020 Losses With Strong Close

Stocks closed higher on the day Friday to end another record week for stocks, with the DOW erasing its losses for 2020 by gaining +0.6% to close at 28,653.87. After Friday's close, the DOW was now up +0.4% for 2020, its first foray into positive territory for the year since February.

The S&P 500 gained +0.7% to close at 3,508.01. It's the first-ever close above 3,500 for the index. The NASDAQ climbed 0.6% to end the day at 11,695.63.

For the week, the DOW rose +2.6% for its third weekly gain in four weeks. The S&P 500 and NASDAQ both notched five-week winning streaks, rising over +3% each. This marks the S&P 500's first five-week winning streak since late 2019. It's also the longest run for the NASDAQ since a six-week win streak that ended in January. Continue reading "DOW Erases 2020 Losses With Strong Close"