Taking Stock -- Week of June 28

Monday, June 28, 2021

Red Arrow down

DJI30 Index at the Close --- 34,283.27 -150.57 (-0.44%)

SP500 Index --- 4,290.61   +9.91 (+0.23%)

The DJI opened at 34450, up 3 points, quickly rose 15, then dropped hard to 34257, off 174, at 9:45. From there it went mostly sideways, staying below 34345 until 11:15, when it dropped, hitting 34200, off 231 at 11:30. It rose to 34270 at noon, then dropped to a new lo of 34186, off 245 before 1:30. It rose to 34270 again between 2:00 and 2:30, pulled back to 34210 after 3:00, then rose into the close.

This is a clearly down day, with the hi and lo lower by 51 and 129 points. The span was 263. The Index bounced down from the bottom of the former up-slanting channel – for whatever that might be worth.

Things were mixed today, with the DJI and Russell 2000 down, and the SP500 and NASDAQ up. After struggling to stay even in the morning, the SP500 [today's chart] went on to new all time intra-day and closing highs, by small margins. For the nonce, at least, it has broken above the top border of its rising wedge. The red horizontal lines represent a potential support zone, per Avi Gilbert. The NASDAQ was up all day and also made a pair of new highs. The Russell 2000 paralleled the DJI, and also had a clearly down day. But it is still not far below its all time highs.

A confusing start to the week.

Daily changes -
DJI30 -0.44%
SP500 +0.23%
NASDAQ +0.98%
Russell -0.52%

DJI Closings -
6/26/19 - 26537
6/26/20 - 25016
5/28/21 - 34529
6/28/21 - 34283

NYSE Internals -
A/D = 1387/1997 = 0.69
A/D Vol = 0.43
New Hi/Lo = 150/17 = 8.82

Tuesday, June 29, 2021

Yellow Arrow Sideways

DJI30 Index at the close   ---   34,292.29   +9.02 (+0.03%)

SP500 Index ---   4,291.80   +1.19 (+0.03%)

 

The DJI opened at 34339, up 56 points, and reached a hi of 34470, up 187 three minutes later. It slid to 34360 at 10:00, approached the hi again at 10:30, then slowly fell to a lo of 34320, up 37, at 12:30.  It ran mostly sideways until after 2:00, hitting a new low of 34267, off 16, after 2:30, followed by a slight rise into the close.  

This is a clearly up day by the trivial margins of 20 and 81 points.  The SP500 had a similar contour, and also was clearly up, with a new closing hi by a single point. The NASDAQ struggled to hold gains in the morning, but also went on to new highs by small margins in the afternoon. This is shown in today's chart.  The Russell 2000 started positive, then dropped all day, losing about a half percent.  It had a clearly down day by small margins.

Daily changes -

DJI30 +0.03%

SP500 +0.03%

NASDAQ +0.19%

Russell -0.58%

DJI Closings -

6/28/19 - 26522

6/29/20 - 25596

5/28/21 - 34529

6/29/21 - 34292

NYSE Internals -

A/D = 1498/1779 = 0.84

A/D Vol = 0.58

New Hi/Lo = 148/6 = 24.67

Wednesday, June 30, 2021

Green Arrow Up

DJI30 Index at the close   ---   34,502.51   +210.22 (+0.61%)

SP500   ---   4,297.50   +5.70 (+0.13%)

The DJI opened at 34290, off 2 points, and 20 minutes later reached 34385, and 34430 after 10:30.  There was a draw back to 34385 at 11:15, then a rise to a new hi of 34492, up 200,  at 12:45.  From there it was mostly sideways into the close.

This is an outside day, with the hi higher by 83 points, and the lo lower by 21.  The span was 308.  T

he DJI is hovering above potential support but below the lower boundary of the up-slanting channel from 3/23/20.

The SP500 had a clearly up day, by the tiny margins of 2 and less than one point at the hi and lo, and 6 points at the close.

After a string of new highs, the NASDAQ had an inside day, and declined by a 24 points at the close.

The Russell 2000 has slightly lower highs and lows, but a tiny increase at the close.

So everything was fragmented.

Daily changes -

DJI30 +0.61%

SP500 +0.13%

NASDAQ -0.17%

Russell +0.07%

DJI Closings -

6/28/19 - 26600

6/30/20 - 25812

5/28/21 - 34529

6/30/21 - 34503

NYSE Internals -

A/D = 1930/1425 = 1.35

A/D Vol = 1.76

New Hi/Lo = 205/12 = 17.08

Thursday, July 1, 2021

Green Arrow Up

DJI 30 Index at the close   ---   34,633.53   +131.02 (+0.38%)

The DJI opened at 34507, up 5 points, and rose to 34603, up 101, before 10:00.  It stayed between 34569 and 34600 until 2:45, when it popped up to 34617.  It then went mostly sideways again until there was another bump up into the close, on a volume surge.

This is a clearly up day, with the hi and lo higher by 87 and 253 points, respectively.  The span was a modest 141 points.

All the indexes were up today, by varying amounts.

Friday, July 2, 2021

Green Arrow Up

DJI30 Index at the close   ---   34,786.35   +152.82 (+0.44%)

SP500 Index    ---    4,352.34   +32.40 (+0.75%)

The DJI Index opened at 34642, up 9 points.  After a brief draw back to 34613, off 20, there was a steady rise to 34810, up 176 after 1:00.  Then it moved mostly sideways, reaching a new daily hi of 34822, then sliding 35 points in the last 10 minutes. 

This is a clearly up day, with the hi and lo up by 182 and 115 points.  The span was 208 points.  The Index has now climbed back up to the lower boundary of its up-slanting channel from 3/23/20 – if that channel still has any validity.

The SP500 also had a clearly up day, and extended its string of new all time intra-day and closing highs.

After breaking its string of new highs on Wednesday, the NASDAQ reestablished both of them – by small margins yesterday, and by more substantial ones today

In contrast, the Russell 2000 had a dismal day.  It dropped all morning, struggled to gain all afternoon, and faltered in the last hour, ending near the day's low for a 1.01% loss.  At the close it fell to 2305.76,  only 54 points [2.3%] under the 3/15/21 hi.  Despite a couple rather dramatic drops, action has been mostly sideways since the.  It looks as if 2350 is providing robust resistance.  This is today's chart.

Markets are closed on Monday to observe the Independence Day holiday.  Have a happy and safe week end

Daily changes -

DJI30 +0.44%

SP500 +0.75%

NASDAQ +0.81%

Russell -1.01%

DJI Closings -

7/02/19 - 26787

7/02/20 - 25827

6/02/21 - 34600

7/02/21 - 34786

NYSE Internals -

A/D = 1680/1600 = 1.05

A/D Vol = 0.95

New Hi/Lo = 203/16 = 12.68