Wall Street Bulls ‘Paused to Refresh’

Wall Street Bulls ‘Paused to Refresh’

$DIA $SPY $QQQ $RUTX $VXX

DJIA -128.11 at 29423.22, NAS Comp -13.99 at 9711.99, S&P 500 -5.51 at 3373.94

The stock market paused Thursday following a strong 8 day run, closing off session lows.

The S&P 500 lost 0.2%, the DJIA lost 0.4%, and the NAS Comp lost 0.1%. The Russell 2000 lead at + 0.3%. 

The S&P 500 + 4.8% in February, fell 0.6% and bounced today. This was not a move that suggested investors were fearful, but instead reflected a subdued risk sentiment given how far the market had come in a short period of time. 

Given its resiliency investors turned defensive and boosted demand for stocks within the S&P 500 utilities (+1.0%), consumer staples (+0.6%), and real estate (+0.5%) sectors. The industrials (-0.7%) and healthcare (-0.5%) sectors underperformed.

Thursday, the major US stock market indexes paused to refresh, the volume on the NYSE came in at 817-M/shares exchanged

  • NAS Comp +8.2% YTD
  • S&P 500 +4.4% YTD
  • DJIA +3.1% YTD
  • Russell 2000 +1.5% YTD

HeffX-LTN’s overall technical outlook for the US major stock market indexes is over all Very Bullish.

Looking ahead: investors will receive the following reports Friday; Retail Sales for January, Industrial Production and Capacity Utilization for January, Import and Export Prices for January, Business Inventories for December, and the preliminary University of Michigan Index of Consumer Sentiment for February. 

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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