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Payne's Perspective: February 20, 2024: Stay In The Game, But Don't Get Cooked

By Charles Payne CEO & Principal Analyst

It was an intriguing week for the market, marking a turn of fortune - or simply solid and robust trends taking a long overdue hiatus.

  • S&P 500 (SPX): -0.4%
  • Nasdaq Composite (IXIC): -1.3%
  • Dow Jones Industrial Average (DJIA): -0.1%
  • iShares MSCI EAFE ETF (EFA): +0.6%
  • CBOE 10-Year Treasury Yield Index (TNX): +0.1%
  • West Texas Intermediate (WTI): +1.8%
  • iShares 20+Year Treasury Bond ETF (TLT): -0.5%
  • Bitcoin (BTC): +7.4%
  • NYSE: Gold (GOLD): -0.6%
  • iShares Russell 2000 ETF (RUT / IWM): +1.54%

Market Breadth

The NASDAQ Composite and the New York Stock Exchange (NYSE) had more advancers than decliners, even though the S&P 500 finished lower.

New highs swamped new lows, especially on the NYSE, as buying moved beyond mega-cap growth.  Then, there’s volume, which points to buyers having more conviction and urgency than sellers.  

To read full report contact your account representative or email Info@wstreet.com. 

Charles Payne
Wall Street Strategies


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