The streak is over. The S&P 500 fell 1.1% on Tuesday, closing at 7,719 — its biggest one-day decline since the June correction and its first decisive break below 7,800 in six weeks. Volume jumped 25% above average, giving the drop real sponsorship. For the first time since August, the dip-buyers didn’t show up in […]
The S&P 500 spent Monday holding its breath. The index closed at 7,805 — down a token 2 points from Friday, and 39 points below Tuesday’s all-time high of 7,844. Three sessions of near-perfect stillness, right as third-quarter earnings season opens with the big banks reporting Tuesday and Wednesday. The market is waiting for corporate […]
The most remarkable market statistic of September so far isn’t in the FX market — it’s in the equity market’s refusal to care about it. While the yen careened through its second 600-pip shock of the quarter and the dollar ripped to new highs, the S&P 500 has spent the week calmly consolidating near 7,650 […]
7,816. The S&P 500 touched that level on Wednesday — its first foray above 7,800 — before settling near 7,780. The rally that began at the June correction low of 7,238 has now delivered 8% in eleven weeks, and the character of the advance keeps improving. Breadth is the headline Unlike the narrow megacap-led rallies […]
The S&P 500 refuses to correct. The index closed Friday at 7,686 — a fresh record close, up 2.6% from late July and comfortably above every prior peak this year. The June correction to 7,238 has been fully retraced, the leadership has broadened beyond the megacaps, and the market has now gone a full month […]