Morning Commentary
The S&P 500 finished last week flourishing into the weekend led by the Technology sector.
However, the NASDAQ continues to be the place to be as breadth was overwhelmingly bullish, save new high to lows.
Off the Charts
The NASDAQ is moving toward the top of the trading channel and would meander.
The same with the NASDAQ 100.
Flowing In the Wrong Direction
Major outflows last week underscore some of the anxiety out there. Note: there isn’t a lot to fear other than the market feeling very stretched after the S&P 500 has rallied higher in fourteen of the past fifteen weeks.
With three quarters of earnings in the books, the beat ratio has improved. That is a cause for optimism, as it is unlikely the market could enjoy another year of mass valuation expansion.
The Calendars
Important data out this week, including the CPI report tomorrow and retail sales on Thursday.
There are still more important names in the earnings queue, although it’s doubtful any could move the market on their own.
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7/26/2024 1:36 PM | Friday Recovery |
7/26/2024 9:29 AM | WRAPPED AROUND YOUR FINGER |
7/25/2024 12:58 PM | A Look at GDP |
7/25/2024 9:57 AM | TURNING THE PAGE ON RESOLVE |
7/24/2024 1:49 PM | Vulnerable Market |
7/24/2024 9:47 AM | Mega Misses |
7/23/2024 1:04 PM | Lay Summer Session |
7/23/2024 9:25 AM | MOST EXPANSIVE BREADTH = GREATER OPTIMISM |
7/22/2024 1:23 PM | Rebounding |
7/22/2024 9:47 AM | WILL THE HUNT FOR VALUE CONTINUE? |
7/19/2024 1:32 PM | Under Pressure |
7/19/2024 9:56 AM | STAR FOR ONLY A WEEK? |
7/18/2024 1:30 PM | All Eyes on Netflix |
7/18/2024 10:18 AM | BIG BETS ON TRUMP TRADE |
7/17/2024 1:37 PM | Technology Troubles |
7/17/2024 9:59 AM | EMPHATIC! |
7/16/2024 12:44 PM | AI Drifting Lower |
7/16/2024 9:52 AM | NEW KIND OF WINNING |
7/15/2024 1:32 PM | Small Caps On The Move |
7/15/2024 9:50 AM | FULL SPEED AHEAD |
7/12/2024 12:56 PM | Intriguing Small Caps |
7/12/2024 9:48 AM | IT’S GOOD TO BE THE KING |
7/11/2024 1:25 PM | Equal Weight Comeback? |
7/11/2024 9:42 AM | CALLING ALL STOCKS |
7/10/2024 1:15 PM | Rally Broadens |
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