The Bull ‘Paused to Refresh’

The Bull ‘Paused to Refresh’

$DIA, $SPY, $QQQ, $RUTX, $VXX

FLASH: Price action was quiet Tuesday, major averages traded near their flat lines, as the Bull paused to refresh.

The S&P 500 finished flat Tuesday in a tame trading session. Price action was relatively muted for most of the day, as investors digested a 2.2% gainer for the benchmark index over the prior 3 sessions.

  • The NAS Comp gained 0.3%
  • The S&P 500 gained 0.05%
  • The DJIA lost 0.3%

The S&P 500 energy (-0.8%) and consumer staples (-0.7%) sectors were Tuesday’s outright laggards. Conversely, the real estate (+0.9%), communication services (+0.4%), and materials (+0.4%) sectors outperformed.

US Treasuries closed up, pushing yields slightly lower. The 2-yr yield decreased 1 bpt to 2.31%, and the 10-yr yield decreased 2 bpts to 2.48%.

.DXY increased 0.1% to 97.33.

WTI Crude Oil rose 1.6% to 62.58 bbl, hitting a fresh 5-month high.

Tuesday, the major US stock market indexes finished at: DJIA -79.29 at 26179.13, NAS Comp +19.78 at 7848.68, S&P 500 +0.05 at 2867.24

Volume: Trade on the NYSE came in at 743-M/shares exchanged

  • NAS Comp +18.3% YTD
  • Russell 2000 +15.2% YTD
  • S&P 500 +14.4% YTD
  • DJIA +12.2% YTD

HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish in here.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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