The S&P 500 closed the week unchanged after pulling back and bouncing almost perfectly off of the daily 20 SMA and FOMC low. The precision of the bounce strikes me as an indication that stronger sellers are still not getting active in this market. Powell Induced Pullback The pullback started last week with Powell giving… Read more »
The S&P 500 closed the week up another 0.6% after just a few hours of FOMC volatility. Note that the cash market did not make a new all time high on Friday due to dividend payout, however the /ES futures did. Although it might feel like markets are getting extended here, there is nothing in the… Read more »
Markets rallied to new all time highs last week, closing up 1.37%. However, on Friday after attempting to continue into new highs, markets failed and closed back inside of Thursday’s range. This doesn’t guarantee a pullback, but it would be nice to see the market slightly lower headed into the FOMC meeting on Wednesday to minimize… Read more »
Markets gapped down aggressively on Tuesday morning, as expected due to the tariff appeals discussed in last weeks newsletter. However, through the week markets rallied back to close the gap, and print a new all time high intraday on Friday. The S&P closed up 1.5% from Tuesday’s open, but back under the prior all time high level… Read more »
The market set a new all time high last week, but promptly rejected it on Friday, closing back below the J-Hole high. The week still closed up 0.16% from Monday’s open. Tariffs Ruled ILLEGAL Right after markets closed on the Friday session, it was announced that the Trump Tariffs were ruled unconstitutional by a Federal… Read more »
It was a volatile week, but after all was said and done, the market closed up a measly 0.38% over the Monday opening print. More impressively said, the market rallied from the intraweek low 2.12%, completely erasing the pullback from the all time high. The market rally was of course brought to us by Powell’s… Read more »