Morning Commentary
S&P 500 Index |
-0.87% |
|
Communication Services XLC |
-0.29% |
|
Consumer Discretionary XLY |
-1.13% |
|
Consumer Staples XLP |
-0.87% |
|
Energy XLE |
-2.57% |
|
Financials XLF |
-1.77% |
|
Health Care XLV |
-1.08% |
|
Industrials XLI |
-1.48% |
|
Materials XLB |
+0.33% |
|
Real Estate XLRE |
-1.17% |
|
Technology XLK |
-0.30% |
|
Utilities XLU |
-1.23% |
NASDAQ Bobs & Weaves
The NASDAQ Composite exhibited quite a bit of grit yesterday, rallying back from more than a 2% drubbing out of the gate to finish down 0.09%. The Composite actually peaked into positive territory three times before coming up just a tad short by the closing bell.
The internals, however, were not, as 232 names closed at 52-week lows and only 38 at 52-week highs. In other words, if the goal of the rout was to reprice stocks, including bringing all the high-flyers down to earth; then mission accomplished.
Market Breadth |
NYSE |
NASDAQ |
Advancing |
889 |
1,618 |
Declining |
2,488 |
2,631 |
52 Week High |
75 |
38 |
52 Week Low |
95 |
232 |
Up Volume |
1.99B |
2.45B |
Down Volume |
2.89B |
2.27B |
The selling was intense enough to finally lure buyers off the sidelines, but they were very selective. Meanwhile, after the close, there were huge moves higher on earnings results, which also underscores the notion stocks are oversold enough to finally celebrate good news.
Portfolio Approach
There are no sector weighting changes this morning to our Hotline Model Portfolio.
Today’s Session
The CPI report has come in hotter than expected and reaction was swift and violent.
CPI Y/Y
CPI Core Y/Y
Month to Month
The downside reversals are probably too dramatic, but the ranges for the session have been established.
Key upside resistance NASDAQ 12,545, S&P 500 4,050 & Russell 2000 1,787.
Tweet |
7/11/2025 1:45 PM | Facing Pressure |
7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
7/10/2025 1:53 PM | Small Caps Rally |
7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
7/9/2025 1:32 PM | NVDA New Milestone |
7/9/2025 9:46 AM | PASSING THE BATON |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
6/30/2025 1:24 PM | Steady As She Goes |
6/30/2025 9:54 AM | SUMMER RALLY STARTS |
6/27/2025 1:35 PM | Reaching New Heights |
6/27/2025 9:39 AM | THERE'S MORE! |
6/26/2025 1:10 PM | S&P Approaches Record |
6/26/2025 9:51 AM | CHIPS MOMENTUM CONTINUES |
6/25/2025 1:42 PM | Tech Stocks Power Nasdaq 100 |
6/25/2025 9:47 AM | CLIMBING MOUNTAINS OF WORRY |
6/24/2025 1:47 PM | Peace Rally |
6/24/2025 9:48 AM | PEACE THROUGH STRENGTH: THE MARKET LOVES IT |
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