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Dow Rallies to Record-Highs
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, December 15, 2023 Key Takeaways: It only took 489 trading days, but the INDU climbed back into record-high territory this week. Broadening participation in the equity market recovery has lifted the index 15% above its recent October low and above the prior January 4, 2022 record […]
December 15, 2023
Is This Time Truly Different?
Dr. Jeffrey Roach | Chief Economist Market pundits often shy away from the admission that “this time is different.” But why should we be afraid of that? Markets and the economy are still adjusting to an era of higher rates, a remote labor force, and a global economy filled with political uncertainty. There are a few […]
December 20, 2023
Will Santa Claus or the Grinch Show Up This Year?
Adam Turnquist | Chief Technical Strategist Key Takeaways Today marks the first day of the Santa Claus Rally period. Yale Hirsch first discovered this unique seasonal pattern in 1972. Hirsch, creator of the Stock Trader’s Almanac, officially defined the period as the last five trading days of the year plus the first two trading days of the […]
December 22, 2023
Investors Approaching Extreme Bullishness
George Smith | Portfolio Strategist Last week, the American Association of Individual Investors (AAII) released their weekly sentiment survey data, which showed that individual investors have experienced a large amount of holiday cheer due to the stock market rally in December. The percentage of individual investors who are bullish about short-term market expectations rose to around […]
December 27, 2023
Top-Heavy Doesn’t Mean Market Top
Adam Turnquist | Chief Technical Strategist Key Takeaways: Narrow leadership has been one of the major themes throughout 2023. The so-called Magnificent Seven mega-caps — Alphabet, Amazon, Apple, Meta, Microsoft, NVIDIA, and Tesla — have contributed to 60% of the S&P 500’s 26.5% total year-to-date return (as of December 27). Given this top-heavy concentration and a […]
December 28, 2023
The Santa Claus Rally Ends on the Naughty List
Adam Turnquist | Chief Technical Strategist Additional content provided by Colby Hesson, Analyst. Yesterday marked the end of the historically strong seasonal period called the Santa Claus Rally, technically classified as the last five trading days of the year plus the first two trading days of the new year. Since 1950, the S&P 500 has generated […]
January 4, 2024
Record-High Watch for S&P 500 Remains in Effect
Adam Turnquist | Chief Technical Strategist Key Takeaways While severe weather watch alerts sweep across many parts of the U.S. this week, a record-high watch is now in effect for the S&P 500. The index rose 0.6% yesterday, closing only 13 points away from its January 3, 2022, record-high close of 4,796.56. In the event of […]
January 11, 2024
The S&P 500 Ventures into Unchartered Territory
Jeff Buchbinder | Chief Equity Strategist Key Takeaways How it Unfolded After stumbling out of the gate to start the year, the S&P 500 has found its footing and broken out to levels never reached before. These new highs might seem a bit sweeter to equity investors considering the notably bumpy ride they endured to get […]
January 1, 1970
Semiconductors Lead Stocks Higher
Key Takeaways Records have been on repeat for the semiconductor space as the outlook for chip demand continues to improve. The proliferation of spending on AI, coupled with an expected rebound in PC demand and increased chip usage across the automotive industry, have helped offset concerns related to elevated inventories and slowing global growth. As […]
January 26, 2024