Stock Market

  Stock Market




The popular averages barely closed upward on Friday. Nevertheless the Dow Jones Industrial Average, Nasdaq Composite and S&P 500 reached all-time intraday highs, amid heavy trading volume. The latter two also achieved all-time closing highs. This after indications that the US and China will agree to a de-escalation of the trade war.

   Above is my three-month chart for the S&P 500 ETF (SPY). Following a rough August, the SPY ralllied and pierced its 50-day moving average to the upside on September 5th. 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 all-time closing and intraday highs on the day before Thanksgiving.

   After a dip, the Santa Claus rally resumed, leading to all-time intraday and closing highs for the SPY on Friday.



Market Outlook


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       None                     TSLA                                     


© Curt Renz

  Stock Market Update

Updated following  each market day

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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.

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