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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 US indices close near session highs

  
Analysis, US Market
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Dow industrial average rising by over 1%. Posts 2 day win streak

the US major indices are closing near session highs. The Dow industrial average led the index is charged with a 1.05% gain. S&P and NASDAQ posts the 6th gain in 7 trading days. The NASDAQ index is closing lesson 3% from the record high set in February.

The final numbers are showing:
  • S&P index up 25.09 points or 0.82% at 3080.82. The high price reached 3081.07. The low price extended to 3051.64
  • NASDAQ index rose 56.326 points or 0.59% at 9608.37. The high price reached 9611.22. The low price extended to 9472.08
  • Dow industrial average rose by 267.63 points or 1.05% at 25742.65. The high price reached 25743.13. The low extended to 25523.74.
Some winners today included:
  • Chewy, +9.6%
  • Square Inc., +6.3%
  • Qualcomm, +6.2%
  • Alcoa, +4.53%
  • General Electric, +4.29%
  • Alibaba, +3.79%
  • FedEx +3.42%
  • Slack, +3.2%
  • Citigroup, +2.79%
  • Broadcom, +2.76%
  • Southwest Airline, +2.56%
  • American Express, +2.36%
Some losers today included:
  • LYFT, -2.85%
  • Wynn Resorts, -2.73%
  • Beyond Meat, -2.61%
  • Gilead, -2.53%
  • Tesla, -1.87%
  • Amgen, -1.43%
  • Raytheon technologies, -1.28%
  • Northrop Grumman, -1.16%
  • Intuit, -1.03%
  • Booking.com -1.0%
  • Starbucks, -0.69%
  • Costco, -0.39%

US Indices add to their gains. Nasdaq/S&P close at record levels

  
Analysis, US Market
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S&P just misses making a new all time intraday high today (short by $0.19)

The US stocks are closing up for the 3rd day in a row.
The NASDAQ index is closing at a session high and reached an intraday all-time high of 9574.936.
The S&P index reached a high price of 3337.58. That was just short of the all-time high price of 3337.77. So it was just short of that level. However, it is closing at an all-time record high taking out the previous high from January 17 at 3329.62.
The Dow is still below its all-time high, but it was the biggest mover today.
The levels at the close are showing:
  • S&P index +37.13 points or 1.13% at 3334.71
  • Nasdaq index +40.71 points or 0.43% at 9508.68
  • Dow up 483.09 points or 1.68% at 29290.73
Big winners for the day included:
  • Chubb, +7.06% the
  • Unitedhealth, +5.31%
  • IBM, +4.85%
  • Exxon Mobil, +4.64%
  • Emerson, +3.85%
  • United Airlines, +3.7%
  • Boeing, +3.66%
  • Bank of America, +3.24%
  • 3M, +3.21%
  • Chevron, +3.21%
  • travelers, +3.14%
  • Citigroup, +3.08%
  • Caterpillar, +2.89%
  • Intel, +2.89%
  • DuPont, +2.64%
  • Charles Schwab, +2.48%
  • General Dynamics, +2.47%
Losers today the included:
  • Tesla, -17.04%
  • Ford Motor, -9.54%
  • Lyft, -3.82%
  • Chipotle, -3.5%
  • Square, -3.07%
  • Walt Disney, -2.35%
  • Gilead, -2.28%
  • Twitter, -1.77%
  • Chewy, -1.65%
  • AliBaba, -1.21%
  • Starbucks, -0.93%
  • Amazon, -0.52%
  • Tencent, -0.45%

US major indices close mixed/a little changed

  
Analysis, US Market
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The S&P squeezes out a new record high. The Dow just misses

The US major indices are closing the session mixed/little changed after a down and up session.
Although little changed, the major indices did stage a comeback from much lower levels intraday.
The final provisional closes are showing:
  • the S&P index +2.69 points or 0.09% at 3096.73. The high reached 3098.20. The low extended to 3083.26. The close was good enough for a new all-time record
  • The Nasdaq index lagged a bit behind. It close down -3.081 points or -0.04% at 8479.02. Its high price reached 8485 .35. The low extended to 8441.582. The NASDAQ has failed to make new highs for 2 consecutive days
  • The Dow closed down -1.63 points at 27781. 96. The high reached 27800.71. The low extended to 27676.97. The Dow close at a record yesterday. So the small decline today kept the index from a new record.

Below is a look at the % high, low and close for the North American and European major indices.  The major indices in the US close near session highs and well off session lows.

The S&P squeezes out a new record high. The Dow just misses

Dow and S&P close at all time records. Nasdaq does not.

  
Analysis, US Market
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Dow leads the way. S&P marginally higher.  Nasdaq marginally lower

The major US indices are ending the session mixed.
  • The Dow led the way with a gain of 92.10 points or 0.33% at 27783.59
  • The S&P index ended marginally higher by 2.20 points or 0.07% at 3094.04
  • The NASDAQ index fell -3.989 points or -0.05% at 8482.10.
The record-o-meter is showing both the Dow and S&P closing at record high levels. The NASDAQ index – despite reaching new all time intraday highs – did not sustain the gains,and therefore did not close at a new all-time record high.

America Is On The Verge Of An Economic Catastrophe

  
Analysis, Economy, Education
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 I don’t need to remind you of the frightening economic data Washington doesn’t want you to know — the nearly $13 trillion debt, 90% debt to GDP ratio (that does not even include the off-budget items, such as the $6 trillion owed by Fannie Mae and Freddie Mac, or the $50 trillion of unfunded liabilities for programs like Social Security and Medicare)… And I certainly don’t need to reiterate the urgency of this situation. You know how severe the ramifications will be if we fail to take immediate action

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.

Sentiment Cycle

  
  Education
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RETURNING CONFIDENCE
On the upside, the area where churning takes place is in between the Returning Confidence phase and the Subtle Warning phase, after a significant advance has already taken place. This often appears in the form of a head and shoulders top on weekly or monthly charts. By the time confidence returns, the market has already been going up for ages while the retracement patterns become ever larger, each one scarier than the last.
To technical traders, this type of price action tells us that the market is getting tired. Perceived bull market volatility excites investors. They waited forever on the sidelines for fundamentals to confirm that the move up was ‘real’. The coast is finally clear and they jump in with both feet. This phase typically ends with a failure on test of top, and the big, super scary ‘buy the dip’ pullback begins.
BUY THE BIG DIP
The public continues to pour money in, lured by glowing good news and economic data. After the long move up, finding attractive stocks becomes difficult for technical traders and market veterans. Traders chase momentum where they find it. Investors believe that the game is back on, and they are willing to take big risk and buy big dips. This Big Dip usually comes after a failed test of top in the Returning Confidence phase. The Big Dip typically takes price below the 50-day simple moving average and quite often, to the 200-day moving average. This is where ABC Corrections are typically found.
ENTHUSIASM
Once it is widely accepted that economic and corporate fundamentals are supporting higher prices, a bell goes off. The bull survived The Big Dip. Those who had previously been afraid now have plenty of reasons – and proof – that it is safe to go back into the market and buy again.  (more…)

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