Daily Market Update for 2/26

A week dominated by selling ended with a day of indecision. Investor fears of inflation were lifted a bit by economic data that showed inflation might not be as accelerated as thought. Consumer sentiment numbers rose. Personal spending was lower than expected. That resulted in rising treasury bond yields to back off a bit and the US Dollar to strengthen.

Daily Market Update for 2/23

Nerves of steel. That’s what it took to keep your eyes on the market today. The Nasdaq opened up with a gap down and pierced below the 50d MA to reach the intraday low within 10 minutes of open. It finally found support at the 13,000 area and made a climb back above the 50d MA. After a retest of that area, it was finally able to climb to an afternoon high before pulling back slightly into close.

Daily Market Update for 2/22

It was a tough day for the Nasdaq, big tech, and growth stocks. On days like this, it is important to take a step back and view things from both sides. Avoid trying to make predictions. In this daily update let’s look at what’s going on more broadly, set an expectation for the index tomorrow and look for a follow-through or an expectation breaker.

Market Week In Review – 2/16/2021 – 2/19/2021

The short week brought a lot of choppiness in the equity markets. There was a mid-day reversal every day of the week. Tuesday was the gap-up that sold off in the afternoon. Wednesday and Thursday started with morning selling that was bought back in the second half of the sessions. Friday finished the week with a rise in the morning only to lose those gains in the afternoon.

Daily Market Update for 2/19

It was day for almost everyone but the mega-caps. Gainers outnumbered losers at more than a three to two ratio. But the mega-caps, especially in tech, lost ground while the rest of the market advanced . Equal weighted QQQE gained +0.36% while the cap weighted QQQ lost -0.44%.