Investors were whipsawed again by rhetoric coming out of the Middle East and President Trumps remarks that a deal was agreed to by all sides and could be signed this weekend.
Investors were whipsawed again by rhetoric coming out of the Middle East and President Trumps remarks that a deal was agreed to by all sides and could be signed this weekend.
The parabolic AI and semiconductor-led rally may have peaked over the short-term this week, retreating from all-time highs as a stronger-than-expected jobs report raised expectations for a more hawkish monetary policy stance.
The technical condition of the market remains positive, as the major averages continue to notch new record highs. The technical indicators are positive with MACD - a short-term trend gauge - in bullish ground, while Momentum, as measured by the 14-day RSI, is strong but in overbought territory for the S&P 500 and NASDAQ. Stochastics, which are in the low 90's, also indicate overbought conditions.
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| Index | Close | Day Change | Day % Change | YTD % Change |
|---|---|---|---|---|
| NASDAQ COMPOSITE | 25809.66 | 640.16 | 2.54% | 11.05% |
| DJ UTILITIES | 1104.69 | 2.93 | 0.27% | 3.43% |
| DJ TRANSPORT | 22523.74 | 701.19 | 3.21% | 29.77% |
| DJ INDUSTRIALS | 50848.75 | 929.97 | 1.86% | 5.8% |
| NYSE COMPOSITE | 23412.89 | 332.06 | 1.44% | 6.4% |
| S & P 100 INDEX | 3636.12 | 59.45 | 1.66% | 5.94% |
| RUSSELL 2000 | 2921.03 | 85.57 | 3.02% | 17.69% |
| S&P 500 | 7394.3 | 127.31 | 1.75% | 8.02% |
| CBOE MKT VOLATILITY | 19.44 | -2.78 | -12.51% | 30.03% |
| AMEX COMPOSITE | 8348.11 | 116.31 | 1.41% | 21.57% |
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