Neutral
MarketEdge Second Opinion
Investors shook off new strikes by the US on Iran, but the buying was limited to semi's and AI stocks as volume was below average on the DJIA.
The major averages staged a late-week rally on strong earnings and improving Middle East negotiations, lifting the DJIA to record highs and pushing the S&P 500 to an eighth consecutive week of gains.
The technical condition of the market remained strong throughout the period. New highs were recorded by the S&P 500, NASDAQ, NASDAQ 100, DJ Transportation Index, Russell 2000 and Philadelphia Semiconductor Index. The major averages are also trading above key MA levels confirming a bullish uptrend...
| Index | Close | Day Change | Day % Change | YTD % Change |
|---|---|---|---|---|
| NASDAQ COMPOSITE | 26656.18 | 312.21 | 1.19% | 14.69% |
| DJ UTILITIES | 1133.93 | 1.57 | 0.14% | 6.17% |
| DJ TRANSPORT | 21209.25 | 441.84 | 2.13% | 22.19% |
| DJ INDUSTRIALS | 50461.68 | -118.02 | -0.23% | 4.99% |
| NYSE COMPOSITE | 23295.5 | 69.75 | 0.3% | 5.87% |
| S & P 100 INDEX | 3733.36 | 20.34 | 0.55% | 8.77% |
| RUSSELL 2000 | 2920.54 | 51.31 | 1.79% | 17.67% |
| S&P 500 | 7519.12 | 45.65 | 0.61% | 9.84% |
| CBOE MKT VOLATILITY | 17.01 | 0.31 | 1.86% | 13.78% |
| AMEX COMPOSITE | 8897.17 | -129.67 | -1.44% | 29.57% |
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