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.
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.
Products & Services |
In The Media |
About Us |
All Rights Reserved.