Taking Stock - Week of July 5, 2021

 Monday, July 5, 2021

Markets are closed to observe Independence Day.

Tuesday, July 6, 2021

Red Arrow Down

DJI30 Index at the close   ---   34,577.37  -208.98 (-0.60%)

SP500 Index   ---   4,343.54  -8.80 (-0.20%)

The DJI opened at 34790, up 4 points, then fell pretty steeply and steadily, hitting a lo of 34361, off 426 at 11:30.  It recovered to 34473, off 311 before noon.  After drawing back to 34390, it rose slowly and steadily to close off 209 points.

This is a clearly down day, with the hi and lo lower by 8 and 255 points, respectively.  The span was 456. The line that was formerly the lower boundary of the up-slanting channel might now be resistance.

The SP500 had an outside day.  It opened at the day's hi, one point above last Friday's, and a new intra-day all time hi, then followed a contour similar to the DJI, but with a greater recovery in the afternoon, ending with a small loss.

The NASDAQ had an outside day.  It opened higher, rose quickly to a new all time intra-day hi, then fell along with the other indexes, reaching its lo shortly after noon.  From there it rose the rest of the day, closing at a new hi.

The Russell 2000 had a clearly down day.  It started within a fraction of Friday's close, and fell to its lo after 12:30. The rise from there was tepid, leading to a loss at the close of well over 1%, and the day's weakest performance.

An inauspicious start to the week, with still more nonconformance's.

Daily changes -
DJI30 -0.60%
SP500 -0.20%
NASDAQ +0.17%
Russell -1.36%

DJI Closings -
7/05/19 - 26922
7/06/20 - 26287
6/04/21 - 34757
7/06/21 - 34577

NYSE Internals -
A/D = 1178/2150 = 0.55
A/D Vol = 0.26
New Hi/Lo = 186/26 = 17.15

Wednesday, July 7, 2021

Yellow Arrow Sideways

DJI30 at the close   ---   34,681.79   +104.42 (+0.30%)

SP500    ---   4,358.13   +14.59 (+0.34%)

The DJI opened at 34604, up 27 points.  After a brief drop to 34548, off 29, it rose to 34690, up 112, at 9:40. It then dropped again to a low of 34436, off 142 at 10:45.  It then climbed again, reaching almost to the hi at 11:45.  It slipped back to near 34600 from 12:45 to 2:45, then rose into the close.

This is an inside day, with the hi lower by 105 points and the lo higher by 77.  The span was 273.

The SP500 had a clearly up day, and once again set new intra-day and closing highs, but only by 5 or 6 points. [today's chart]

The NASDAQ opened strong, setting a new all time intra-day hi, then slid for an hour.  It then snaked neutral, and finished with a new all time closing hi – by a point and a half.

The Russell 2000 dropped in the first hour, recovered a bit until 12:30, then gave some of it back, undulating into the close for a loss of almost a percent. 

Fragmentation continues, at or near new highs.

Daily changes -
DJI30 +0.30%
SP500 +0.34%
NASDAQ +0.01%
Russell -0.95%

DJI Closings -
7/05/19 - 26922
7/07/20 - 25890
6/07/21 - 34630
7/07/21 - 34682

NYSE Internals -
A/D = 1578/1703 = 0.93
A/D Vol = 0.63

New Hi/Lo = 211/38 = 5.55

After Wednesday's storm, my electricity and internet were down until Saturday morning - so no reports on Thursday and Friday.  Lo sent.