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S&P and NASDAQ snap 4-day winning streak ahead of US jobs report today

  
Analysis, LINKS, US Market
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Dow industrial average ekes out a small gain

the S&P and NASDAQ index snapped a 4 day winning streak ahead of the US jobs report released tomorrow at 8:30 AM ET. The Dow industrial average up the trend by closing higher on the day but just barely.

The final numbers are showing:
  • S&P index, -10.52 points or -0.34% at 3112.35
  • NASDAQ index -67.098 points or 0.69% at 9615.81
  • Dow industrial average up 11.93 points or 0.05% at 26281.82.
Below are the percentage changes and high low percentages for the major indices in North America and Europe. European shares end the day modestly lower after the sharp gains over the first 3 days of the trading week.
Dow industrial average ekes out a small gain_

Major indices close higher led by the Dow and S&P

  
Analysis, US Market
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Dow and S&P rise by 3.4%

the major indices are closing higher with the Dow and S&P leading the way. Each rose by around 3.4%. The NASDAQ index lagged behind with a 2.6% gain.
A look at the close is showing:
  • S&P index, rose by 89.86 points or 3.38% to 2749.27.
  • NASDAQ index, rose by 203.64 points or 2.58% to 8090.90
  • Dow industrial average, rose by 772.57 points or 3.41% to 23426.43

Some of the leading stocks include:

  • Wynnresort, +13.39%
  • Square, +13.29%
  • Marriott, +11.87%
  • United Airlines, +12.3%
  • General Motors, +8.6%
  • Unitedhealth +8.10%
  • Raytheon, +8.96%
  • Twitter, +8.82%
  • FedEx, +8.13%
  • Citigroup, +7.27%
  • Ford Motor’s, +6.69%
  • Morgan Stanley, +6.58%
  • Exxon Mobil +6.35%
  • Goldman Sachs +6.47%
  • Chevron +6.34%
  • American Express, +5.14%
Some laggards today included;
  • Deutsche Bank, -1.58%
  • General Mills, -1.24%
  • Alibaba, -1.10%
  • ATT, -0.70%
  • Netflix, -0.33%
  • Disney, -0.23%
  • Walmart, -0.12%

 

Dow tumbles more than 1000 points. Worst day since Feb 8, 2018

  
Analysis, US Market
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S&P worse day since December 2018

The Dow is closing down over 1000 points on the day. It is the workstations February 8, 2018. The S&P index at its worst day since December 2018.  The Dow, S&P and Nasdaq each fell over 3.3% on the day with the NASDAQ hit the hardest at -3.71%.
The Dow and the S&P are now negative on the year:
  • Dow -2.02%
  • S&P index, -0.15%
  • The Nasdaq index is still up on the year at +2.77%
The final numbers are showing:
  • S&P index -111.82 points or -3.35% at 3225.93.  The low price for the day reach 3214.65. The high extended to 3259.81.
  • Nasdaq index fell minus 355.309 points or -3.71% at 9221.28. The low for the day reached 9166.00. The high reached 9322.879.
  • Dow fell -1031.33 points or -3.56% at 27961. The low for the day reached 27912.44. The high for the day was up at 28402.93

Big losers on the day include:

  • United health, -7.87%
  • AMD, -7.83%
  • Tesla, -7.49%
  • Schlumberger, -7.4%
  • Nvidia, -7.13%
  • Delta airlines -6.31%
  • Twitter, -6.29%
  • Wynn Resort, -6.03%
  • Intuitive Surgical -5.38%
  • Morgan Stanley, -5.21%
  • Charles Schwab, -5.19%
  • FedEx -5.16%
  • Citigroup, -5.10%
  • American Express, -4.97%
  • Cisco, -4.95%
  • Visa, -4.82%
Are there any winners today?
  • Gilead, +4.66%
  • US steel, +1.73%
  • Chewy, +1.3%
  • First Solar, +1.25%
  • Verizon, -0.3%. Verizon was the strongest of the Dow 30 stocks
  • General Mills only fell -0.37%

 

Major indices close lower. Indices also lower for the week

  
Analysis, US Market
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All-time highs were made but Thursday and Friday selling take the gains away

The major stock indices are ending the day lower with the NASDAQ falling by -1.79%. In a week where the NASDAQ and S&P index made new all-time highs, selling on Thursday and Friday have taken those gains away. The major indices are ending the week lower.

The final numbers are showing:
  • Dow industrial average -227.30 points or -0.78% at 28992.68
  • S&P index -35.55 points or -1.05% at 3337.68
  • NASDAQ index -174.38 points or -1.79% at 9576.59.
For the week, the Dow industrial average was the weakest followed closely by the NASDAQ index:
  • Dow industrial average, -1.46%
  • S&P index, -1.07%
  • Nasdaq index -1.39%

Stocks end ugly as weekend coronavirus fears can’t slow the slide

  
Analysis, US Market
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Dow down -600 points/-2.09%

The US stocks end an ugly day near the lows for the day. The Dow industrial average fell by over 600 points/2%. It was the worst day since August 23.  Moreover the Dow ended the month lower for the 1st time in 5 months. For the S&P it had their worst day since October 2 . The Dow ended the month lower for the 1st time in 5 months.  The S&P and NASDAQ had their worst start to the year in 5 years.  You get the picture.

The final numbers are showing:
  • S&P fell -58.14 points or -1.77% to 3225.52
  • Nasdaq fell -148 points or -1.59% to 9150.94
  • Dow fell -603.41 points or -2.09% to 28256.03.
For the month, the Nasdaq did still and positive for the month, but the S&P and Dow closed the month lower.
  • S&P, -0.16%
  • Nasdaq, +1.99%
  • Dow, -0.99%
In Europe today the major indices also closed near session lows. On what happened and Portugal but the PSI 20 did peek out a gain for the day.
Dow down -600 points/-2.09%

US Indices close the day down and also close lower on the week

  
Analysis, US Market
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Nasdaq falls 0.8% to today

The major US stock indices are ending the session in the red for the day. The declines today also helped push/keep the week lower.
The final numbers are showing:
  • S&P index -14.72 points or -0.49% at 2992.07.
  • NASDAQ index -65.20 points or -0.80% at 8117.68
  • Dow industrial average -159.72 points or -0.59% at 26935.07
For the week, the major indices fell with the Dow industrial average falling the most.
  • S&P index, -0.51%
  • NASDAQ composite index -0.72%
  • Dow industrial average, -1.05%

Higher close for US equities with the Dow leading the way

  
Analysis, US Market
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2 of 3 days higher.

Earlier in the day, when stocks opened lower, the headline was “Stocks down – 4 of 5 days lower”.
Now after a higher close, the headline reads “Stock up – 2 of 3 days higher”
Both are NOT fake news, but the 2nd one is the reality for the day.
US major indices are ending higher with the Dow stocks leading the way today.
The final numbers are showing:
  • The S&P index rose 18.78 points or 0.65% at 2887.94.
  • The Nasdaq index rose 29.937 points or 0.38% at 7856.88
  • The Dow rose 258.20 points or 1.00% at 26036.10.
The biggest Dow 30 winners on the day included:
  • Pfizer, +2.15%
  • UnitedHealth, +1.98%
  • United Technologies, +1.85%
  • Nike, +1.78%
  • Home Depot, +1.73%
  • Walt Disney, +1.51%
  • Boeing, +1.45%
  • Bank of America, +1.44%.

5 Minutes of Daily Conditioning

  
  Education
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Deciding to be a profitable financial trader is the first step in becoming one. Trite you say? Not really. Missing this one step or doing it out of order xplains why 90% of brokerage accounts go to zero within the first year, many doing so in the first 4 months!

In addition to arbitrarily deciding to be a profitable financial trader, a more powerful and lasting way is to use psychological conditioning on yourself so that you CONSISTENTLY decide that you are a profitable trader Here’s my interpretation of the method for doing this that I learned from the famous success guru I alluded to in my comments two blogs back.

First, write out the sentence below on a piece of paper.

“FROM THIS MOMENT FORWARD, I AM A PROFITABLE TRADER”.

Second, consider the pain you have experienced before because you have not consistently thought of yourself as a profitable trader. Imagine experiencing that again in the present and future. Do this for 30 seconds. Notice how you feel as you do that. (more…)

Is this the world’s most bearish man?

  
  Education
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He is this man:

His name is Robert Prechter and he thinks the Dow will fall well below 1,000 over within the next six years. What’s more, he even speaks in Nostradamic verse:

Mr. Prechter is convinced that we have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years.

In a series of phone conversations and e-mail exchanges last week, he said that no other forecaster was likely to accept his reasoning, which is based on his version of the Elliott Wave theory — a technical approach to market analysis that he embraces with evangelical fervor.

Originating in the writings of Ralph Nelson Elliott, an obscure accountant who found repetitive patterns, or “fractals,” in the stock market of the 1930s and ’40s, the theory suggests that an epic downswing is under way, Mr. Prechter said. But he argued that even skeptical investors should take his advice seriously.

Trading Commandments

  
  Education
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tadingcommandments

Respect the price action but never defer to it.
The action (or “eyes”) is a valuable tool when trading but if you defer to the flickering ticks, stocks would be “better” up and “worse” down-and that’s a losing proposition. This is a particularly pertinent point as headlines of new highs serve as sexy sirens for those on the sidelines. (more…)

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