On Tuesday, markets opened marginally red.
Buyers pounced and sent prices higher through the session, leading the main three indexes to another positive close.
The Nasdaq and S&P 500 are now on their longest winning streak since November 2021.
- Dow Jones +0.2%
- Nasdaq +0.9%
- S&P 500 +0.3%
- Russell 2000 -0.3%
Under the surface, the mood was neutral. Of all listed stocks…
- 46% advanced
- 50% declined
Sector Round Up
5 of the 11 sectors ended Tuesday’s session higher.
Risk-on sectors finished at the top…
- Consumer Discretionary (XLY) +1.1%
- Technology (XLK) +1.1%
- Communications (XLC) +0.5%
At the bottom…
- Real Estate (XLRE) -0.8%
- Materials (XLB) -1.9%
- Energy (XLE) -2.2%
Fear remains absent from the market.
The VIX spent the last 3 trading sessions below 16, a level only seen during strong bull markets.
At this point, there is nothing out there that would prevent a strong Q4 that will continue into Q1 of 2024.
Your latest readout…
The 2023 election season is now in the past. And it had little effect on the markets this year.
The 2024 Presidential election is now just 362 days away.
- Election years tend to be boring years for the market
- There is a bullish tilt when an incumbent President is up for reelection
Seconard watchlist—float about 100 million
ROVR support at $7
PINS support at $30
BRFS on watch