Back To Boring

Dow: +37.87… Nasdaq: +10.67… S&P: +0.52… The market is consolidating highs here, so as it does, we get to see some uninspiring tape action, although there are still a few movers and shakers out there. On the downside, retail still looks horrible. Take a look at KORS and FOSL today. Today NFLX popped to more…

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Choppy

Dow: +20.55… Nasdaq: +27.64… S&P: +0.70… Apple stock soared 6.1% after it reported strong demand for the iPhone 7 late yesterday, which helped boost revenue to a record $78.4 billion and snap three consecutive quarters of decline.  This helped lift the Dow. Tech did well, and as a result, the Nasdaq popped 27 points. Biotech worked…

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Trump Gives Biotech A Hug

Dow: -107.04… Nasdaq: +1.07… S&P: -2.03… The health care sector assumed a leadership position in today’s market, underpinned by the outperformance of the drug and biotech stocks. Those issues rallied on the other side of a meeting President Trump had with industry executives. While the president pressed his case for lowering drug prices, the markets were…

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Hey, It’s Just the Stock Market

Dow: -122.65… Nasdaq: -47.07… S&P: -13.79… What did you expect? Nothing goes straight up or don in perpetuity, so we got a little house cleaning today. No biggy. The S&P gapped lower today but then found a bottom before lunch and managed a slow and steady move off the lows as the day went on. It…

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More Nominal Highs

Dow: +32.40… Nasdaq: -1.16… S&P: -1.69… The S&P and Nazzy tacked on some more new highs today, but overall it was more of consolidation day for the market. Portfolio name Charter Comm (CHTR) had a nice pop of 23 points or 7.3% as the rumor that Verizon may buy them gained some steam. I added two…

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Definitive Breakouts

Dow: +155.80… Nasdaq: +55.38… S&P: +18.30… The SPX put in a definitive breakout today and if you were one of those folks that were getting all ginned up over Dow 20,000, then you got your wish today. Dow Right now a few things can happen, we melt up further as FOMO (fear of missing out) kicks in,…

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New Closing Highs For the SPX and Nasdaq

Dow: +112.86… Nasdaq: +48.01… S&P: +14.87.. The major averages opened flat and advanced throughout the duration of the day to close solidly higher. The Nasdaq (+0.9%) picked up steam in the afternoon to finish a step ahead of the S&P 500 (+0.7%), while the small-cap Russell 2000 (+1.7%) surpassed them all. We hear the worry…

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Choppy With a Side Of Boring

Dow: -27.40… Nasdaq: -2.39… S&P: -6.11… This market isn’t doing much to lure me in right now and I’d like to sit on my hands as I watch these choppy conditions. A little pullback is healthy and overdue, and a few percent lower would be welcomed. It really is boring out there, and I think the market…

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