Broker Check

Special Market Alert

| July 29, 2015
Share |

On Monday, July 27, 2015, the Dow tested its July 7th low (17465) and actually went a bit lower to 17399 however, the other major indices did not reach their respective July 7th lows (except the small cap index, the Russell 2000).

                                     July 7th low           July 27th low

S&P 500                     2044                           2063

Nasdaq                       4902                           5025

Nasdaq 100               4344                           4506
(mostly high tech)

Russell 2000              1225                           1205
(small cap index)

Please remember, the Dow index only has 30 stocks and the others indices are much broader in scope and therefore much more representative of overall market direction.

As of now, we view broader indices (with the exception of the small cap index) not violating the July 7th lows as a positive but we are cautiously watching today’s (7/29) Fed meeting results (will they raise rates?) and the  2nd quarter GDP report (tomorrow) for possible change in market direction.

Stay tuned and we will keep you posted…….

Share |