Stock Market

    Astronomy

      Contact

        About

The popular averages finished narrowly mixed on Tuesday. Nevertheless, the Nasdaq Composite attained all-time intraday and closing highs, while the Dow Jones Industrial Average and S&P 500 reached intraday highs but closed down. The latter two were hurt by a disappointing earnings report from Home Depot (HD -5.4%).

   Above is my three-month chart for the S&P 500 ETF (SPY). During August the SPY was buffeted about by the US and China bickering about tariffs. Then the SPY ralllied and pierced its 50-day moving average to the upside on September 5th. After a few days of digestion, the upward trend appeared to be confirmed on September 11 & 12.

   Then a Near Eastern oil related conflict led to the SPY dropping hard on September 24, but the 50-day moving average provided support for a while. The SPY fell under that MA on October 1 with continuation on October 2, but held above its 200-day MA on October 3 before shooting upward.

   The climb continued on October 4 to a close back above the 50-day MA, before a slip back under on October 7 and a bigger drop on October 8, followed by a bounce on October 9. The rise kept going on October 10 with a close on the 50-day MA, then well above afterward including an all-time intraday high on Tuesday.

   Regarding the stock market averages, November has been historically the first of the string of six calendar months that on average easily outperforms the alternate period.

.

Market Outlook

ETF Holdings       Stock Holdings

       None                     TSLA                                     

                                                                               

© Curt Renz

  Stock Market Update

Updated following  each market day

Tell your friends

Clear browsing data if outdated graphics appear

Tweet

You appear to be blocking the unobtrusive ads on our website. If you wish this website to continue, please allow ads for this website. That can be done for this website, while still blocking ads for other websites. Thank you for your support.

DISCLAIMER: Our commentaries are provided as general information and not investment recommendations. You are responsible for your own investment decisions. Our opinions are based on historical research and data believed to be reliable. There is no guarantee that results will be profitable. We are not responsible for errors or omissions. We may hold positions in vehicles that are mentioned.

Click for the Tesla Website