Nasdaq Market Update for 11/5

The Nasdaq continued an energetic rally with another gap up day and big gains on Thursday. The fed left interest rates alone. Although it did not meet expectations, Jobless Claims continued to decline and seemed acceptable in the current context. The election still does not have a definitive winner. Although Biden is in the lead, there is still a chance for the count to turn Trump’s way, or for legal victories in court. The Senate still seems to be going to the Republicans, holding back a “blue wave”.

Nasdaq Market Update for 11/4

What a difference a day can make. The Nasdaq reacted sharply to a turn in sentiment toward election results when it became apparent the “Blue wave” would not happen as originally thought. Even as the presidential election remains undecided, it seems that the Republicans will retain control of the Senate, putting a damper on any radical changes in the near-term. The index responded with a gap up and turned in a +3.85% gain on a 12% increase in volume .

Nasdaq Market Update for 11/3

It is finally Election Day! And the day brought the pleasant surprise of a positive expectation breaker for the Nasdaq. Yesterday’s trend lines and the indecisive candle pointed to losses for today, but it is good to be wrong sometimes. I set my expectations for the next day, but always be prepared for a break from those expectations, especially during these uncertain times.

Nasdaq Market Update for 11/2

The first day of November brought starts off with some more choppy market action as the Nasdaq started in positive, went negative and then back to positive by the end of the day. It was good that the index came up off afternoon lows, but it could just barely get back to the midpoint of the morning highs.

Nasdaq Market Update for 10/30

The market sold off heavily on Friday after a big day of earnings releases that did not meet the demands of investors who were already nervous from the resurging pandemic and the pending turmoil from next weeks election. There is not much to look at on the good side other than the pullbacks will eventually create new opportunities.

Nasdaq Market Update for 10/29

It was a reasonably good day following the sell-off on Wednesday. The Nasdaq finished up +1.64% after tempting itself with the 50d MA and September Resistance line. Volume was lower, returning to the recent levels that have represented the wait-and-see level of activity in the market, well below the 50d average volume .