Markets open the final week of August with buying.
Trading volume was light. And no serious sellers emerged.
The indexes all opened green, trading sideways throughout the day, and closed the day green…
- Dow Jones +0.6%
- Nasdaq +0.8%
- S&P 500 +0.6%
- Russell 2000 +0.8%
Sector Round Up
The rally was broad. 10 of the 11 sectors ended the session positive.
At the top…
- Communications (XLC) +1.2%
- Technology (XLK) +0.8%
- Industrials (XLI) +0.8%
The only loser…
- Utilities (XLU) -0.0%
The put-to-call ratio is staying oversold longer than usual…
History tells us that, eventually, the market will balance out to a neutral stance. The longer the market stays oversold, the bigger the chance grows for a massive squeeze.
We remain in wait-and-see mode.
Your latest readout…
With just three trading days left in August, we preparing your complete September outlook.
Look for your guide to the month ahead on Thursday.
Secondary watchlist—float 100+ million
MREO support at $1.50
PGEN resistance at $1.75
VFS on watch