Category Archives for Todd’s Market Update

Nasdaq Taps Fresh All-Time High

Nasdaq

The market showed continued strength on Monday following the strong jobs report from last Friday and ongoing fiscal and monetary stimulus. Although there is a bit of skepticism emerging over the durability of the rapid rebound and robust turnaround from March lows, the Nasdaq continued to march towards fresh all-time highs and is making a […]

Continue reading

Market Awaits More Employment Data

The market backed off its early June highs after trading in tight ranges following another update from the jobs market. Specifically, Jobless Claims fell -249,000 to 1,877,000, versus forecasts of 1,790,000, after declining -320,000 to 2,126,000 in the prior week.The Russell 2000 traded to an intraday high of 1,460 before closing basically flat at 1,452 […]

Continue reading

Blue-Chips and Small-Caps Pushing 200-Day MA’s

The market showed overall strength for the 3rd-straight session following Wednesday’s breakout to fresh resistance levels on better-than-expected jobs reports. Specifically, ADP Employment Report revealed private payrolls declined -2,760,000 in May after dropping -19,557,000 in April. Expectations were for a loss of -9 million.The Russell 2000 reached an afternoon peak of 1,463 before settling at […]

Continue reading

Bulls Push Fresh Resistance Levels

The market showed continued strength on Tuesday despite a choppy session for Tech as all of the major indexes pushed fresh resistance levels. Fresh concerns over continued protests and looting along with the possible rise in corona virus cases remain in play with the market overlooking these concerns and the ongoing impact on the U.S. […]

Continue reading

Major Indexes Near-Top of Trading Ranges

The market settled higher despite the  protests, riots and looting that continued for the 7th-straight day here in the United States. Despite the economic damage and the possible rise in coronavirus cases, the major indexes continue to push the tops of last week’s trading ranges.The Russell 2000 traded to an afternoon high of 1,419 while […]

Continue reading

Bulls Get 2nd-Straight Monthly Win

tariffs

The market settled mostly higher on Friday while booking sharp gains for the week, and month, after a news conference from President Donald Trump on China turned out to be not as disruptive to trade and finance as had been anticipated.The Nasdaq tested a late session high of 9,505 while closing at 9,489 (+1.3%). Current […]

Continue reading

Bears Get Late Day Win

trade negotiations

The market experienced some late day selling pressure on Thursday following escalated tensions between the U.S. and China after the country approved a national security legislation on Hong Kong to tackle secession, subversion, terrorism and foreign interference.Reports that President Trump will host a news conference on Friday about China halted midday momentum. News that The […]

Continue reading

Small-Caps Up 5-Straight Sessions

The market showed continued momentum on Wednesday with the small-caps once again leading the rally and extending the Russell’s winning streak to 5-straight sessions. The broader market and the blue-chip indexes cleared key resistance levels while Technology made a final hour comeback to give the bulls a clean sweep.The Russell 2000 surged to an afternoon […]

Continue reading

Multi-Month Resistance Levels Back in Play

The market was in rally mode to start the shortened holiday week with the major indexes tagging prior February and March peaks on Tuesday. Better-than-expected housing news along with another possible coronavirus treatment fueled the rally although the fade in Tech was a bummer.The Russell 2000 kissed an intraday high of 1,406 while closing at […]

Continue reading

Bulls Win Big Week Despite Friday’s Timid Action

The market was choppy throughout Friday’s session as the bulls and bears battled over fresh concerns involving China’s push of a new security law on Hong Kong and positive comments from Dr. Anthony Fauci.Fauci suggested now is the time to start reopening the economy but in the proper way to protect people’s health. The mostly […]

Continue reading