Stocks
Weekly Market Outlook – The Weight of Recent Gains Is Clearly Still a Problem
Hopes for a renewal of the rally that started to wobble four weeks ago were largely dashed last week, with both the NASDAQ Composite as well as the S&P 500 making their lowest weekly closes since early May. Yet, there’s plenty more room for both indices to keep falling, and a growing amount of reason to think they will. Still, there are a couple of ways and places the bulls could make a stand. But first things first. Let’s run through last week’s biggest economic news and preview what’s in the lineup this week. Economic Data Analysis Nothing wildly important was dropped last week, but a few items are worth noting. One of them was May’s new home sales. You may recall that sales existing homes edged a little higher last month, although are still lingering at the same low levels seen since sales dried up in 2023. Well, sales… more
Weekly Market Outlook – The Bounce Lacked Follow-Through (but There’s Little Room Above Anyway)
Stocks bounced back a bit last week, following through in the previous week’s late effort to recover from an early-June drubbing. The effort was largely spent after Monday’s strong open though. Past that, the rally was out of gas. Friday’s slight gain was the only reason the S&P 500 was able to end the week with a slight win, up... more
Weekly Market Outlook – The Correction (Probably) Isn’t Over Yet
Picking up where they left off a week earlier, the bears started last week in control. By mid-day Tuesday, stocks made a new multiweek low, and logged a new multiweek low close on Wednesday, testing the 50-day moving average lines for a second session in a row. Then the bulls started pushing, driving the market to a second consecutive daily... more
Weekly Market Outlook – The Lack of a Clear Catalyst Only Makes It More Difficult to Read
Most traders had to acknowledge something like this could have happened sooner or later. But, it’s unlikely anyone saw it coming quite like this. The “this,” of course, is Friday’s 2.65% tumble from the S&P 500, although truth be told, the meltdown actually started taking shape on Wednesday. Friday’s close was 3.1% below Tuesday’s peak, marking one of the worst... more
Weekly Market Outlook – The Bulls Are Running Out of Good Reasons, But Not Running Out of Gas
That makes the ninth consecutive winning week for the S&P 500, carrying the index deeper into record high territory. It still feels strained, forced, and artificial though, as if the bulls are simply trying to extend an already-over-extended rally by celebrating the potential end of the conflict in Iran… as if that conflict was a problem for the market. (It... more
Weekly Market Outlook – The Bulls. Just. Won’t. Go. Down.
Stocks ended up logging a win for the week, albeit a small one. Still, a small win is better than any loss. Nevertheless, there’s no denying the weight of the recent gains is a problem. The market is struggling to continue moving higher here. Not even hope for an end to the conflict in the Middle East is getting the... more
Weekly Market Outlook – The Rally Showed It’s Vulnerable. It Didn’t Say It Was Ready to End.
Despite the impressive midweek effort, nearly all the work the bulls were able to hammer out last week was unwound on Friday. All told, the S&P 500 only gained 0.1% for the five-day stretch, giving up most of what was at one point was nearly an 0.8% gain. It’s still too soon to say this is the beginning of a... more
BIG TRENDS
INSIDER NOW!
Trend Watch, TRENDSCORE, webinars, technical analysis e-book, and more!