Morning Commentary
What a remarkable week, capped off with a solid Friday session. For the first time since August, there were more new highs than lows on the New York Stock Exchange (NYSE).
And the NASDAQ Composite saw an astonishing improvement from 600 more new lows than highs to only 28.
Breadth & Heat
Advancers swamped decliners on both the NYSE and NASDAQ, while buyers continued to have far more conviction and determination than sellers.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,416 |
3,358 |
Decliners |
486 |
956 |
New Highs |
82 |
63 |
New Lows |
18 |
91 |
Up Volume |
3.76 billion |
3.78 billion |
Down Volume |
778.20 million |
1.13 billion |
Only Energy (XLE) slipped on Friday, and Real Estate (XLRE) continues to post an impressive rebound.
Mega-Caps Step Up
For the week, mega-cap names were amazing, although Apple (AAPL) continues to struggle to maintain its upside momentum.
Earnings Calendar
Key Charts
The S&P 500 needs to build a base above the 200-day moving average, then clear 4,400.
The Russell 2000 has erupted higher but must power above its 50-day moving average.
Today’s Session
Futures are flat this morning following last week’s blockbuster rally. Crude futures rose more than 1.5% after Saudi Arabia and Russia reaffirmed their supply curbs through year-end.
The ten-year yield is higher after having slid recently from the 16-year highs reached last month.
Comments |
Charles, your earlier report was outstanding, including the non market references. Thanks. neil bradie on 11/6/2023 9:40:35 AM |
Tweet |
5/9/2025 1:15 PM | Friday Fluctuations |
5/9/2025 9:25 AM | SO MUCH EXCITEMENT |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
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