Taking Stock - Week of March 29, 2021

Monday, March 29, 2021

Green Arrow Up

DJI30 Index at the close   —-   33,171.37   +98.49 (+0.30%)

The Index opened at 33088, up 15 points, and climbed to 33103, up 30 in the first few minutes.  After 10:00 it dropped, hitting 32905, the day’s lo, off 168 before 11:00.  At noon, it was back up to 33050, off 22.  After 1:00 it stayed between 31100 and 31180 until 3:30, when it moved up to the day’s hi of 33259.  From there it was an 88 point slide into the close.

I mis-spoke on Friday.  There was a new closing hi, then, by 57 points.  Today we got new intra-day and closing highs, by 31 and 98 points, respectively.  This is a clearly up day with the hi and lo higher by 160 and 224 points, respectively.  The span was 354 points.

All the indexes were down in the morning. The DJI moved into positive territory around midday and stayed positive.  The SP500 spent the afternoon snaking around neutral and slipped slightly under at the end. The NASDAQ could’t quite get above the null point and slumped in the afternoon   The Russell was dismal the entire session.

% Changes -

DJI30  +0.30% 

SP500 -0.09%   

NASDAQ  -0.60%    

Russell 2000 -2.83% 

DJI30 Closings -

03/25919 - 25929

03/27/20 - 21637

02/26/21 - 30932

03/29/21 - 33171

NYSE Internals - 

A/D =  1092/2233 = 0.49

A/D Vol = 0.51

New Hi/Lo = 214/29 = 7.34

Tuesday, March 30, 2021

Red Arrow Down

DJI30 Index at the close   —-   33,066.96   -104.41 (-0.31%)

The Index opened at 33128, off 43 points and fell to 33044, off 127 in 20 minutes.  At 10:30 it reached the day’s hi of 33171, less than 1 point in the red.  From there it fell to the day’s lo of 32989, off 182.  There was a slow rise, almost reaching the hi again just after 3:00.  Then, a sharp drop to 33000 at 3:57 followed by a 77 point rise into the close.

This is a very unsettled looking day, with 2 excursions near the hi and 2 more near the lo.  This is also an inside day, with the hi lower by 88 points and he lo lower by 84.  The span was 182, the least since 178 on 2/19.

The SP500 and NASDAQ both registered small losses, but the Russell 2000 was up by 1.72%.  It was looking like the Russell’s surge was spent, but this day ran counter to that idea.

So, the indexes were inconsistent.  Maybe the rest of the week will bring clarification.

% Changes -

DJI30  -0.31% 

SP500 -0.32%   

NASDAQ  -0.11%    

Russell 2000 +1.72% 

DJI30 Closings -

03/29/19 - 25929

03/31/20 - 21917

02/26/21 - 30932

03/30/21 - 33067

NYSE Internals - 

A/D =  1092/2233 = 0.49

A/D Vol = 0.51

New Hi/Lo = 214/29 = 7.34

Wednesday, March 31, 2021

Red Arrow Down

DJI30 index at the close   —-   32,981.55   -85.41 (-0.26%)

The Index opened at 33116, up 49 points and quickly rose to 33174, up 107.  From there it tumbled, landing at a lo of 33026 at 10:30.  It then climbed, stepwise, reaching 

near 33140 from 1:00 to 2:00.  It slipped to about 33185 from 2:45 to 3:30, then fell hard into a new lo of 32981 in the waning moments, just 1 point under the close.

This is by tiny margins an outside day, with the hi higher by 3 points, and the lo lower by 8.  The span was 193 points, 11 more than yesterday’s.

Each index followed its own path today.  The S&P was hump backed, the Russell was swaybacked, the DJI undulated around neutral, and the NASDAQ went up and stayed up. The other indexes are hovering under their recent highs, but the SP500 reached a  new all time intra day and missed a closing hi by less than 1 1/2 points.

% Changes -

DJI30  -0.26% 

SP500 +0.36%   

NASDAQ  +1.54%    

Russell 2000 +1.13% 

DJI30 Closings -

03/29/19 - 25929

03/31/20 - 21917

02/26/21 - 30932

03/31/21 - 32982

NYSE Internals - 

A/D =  1814/1505 = 1.21

A/D Vol = 0.79

New Hi/Lo = 188/15 = 12.53

Thursday, April 1, 2021

Green Arrow Up

DJI30 Index at the close   —-   33,153.21   +171.66 (+0.52%)

The Index opened at 33055, up 73 points, and immediately rose to 33100, made a sharp U-turn, and dropped to 32985, up 4 points, and the day’s lo, before 10:00.  It climbed to 33125 at noon, and moved sideways between that level and 33160 until 3:00.  After dropping to 33090 after 3:30, it rose to 33167, the day’s hi, two minutes before the close.

Yesterday’s session was outside of Tuesday’s, by tiny margins, and today’s was back inside, also by tiny margins, with the hi lower by 7 points and the lo higher by 5.  The span was 181.82 points, 0.19 points less than Tuesday’s, and by that slight margin the narrowest since 178 on 2/19.  

Markets are closed tomorrow for Good Friday, so at today’s finish the gain for the week is 0.24%. Momentum is still up, and the Index is about 1 1/2 Standard Deviation units above its 233 day EMA.

I’m giving today’s action a reluctant green arrow because the motion was up most of the day, and all the other indexes were also up.  If you want to call it sideways, I won’t argue.

The SP500 achieved new intra-day and closing highs, separated by less than a point, and is now 1.42 Standard Deviation units above its 233 day EMA. But momentum appears to be waning.  The Russell had a nice gain, and is under the 3/15 all time closing hi by 4.5%.  It is slightly more than one Standard Deviation above its 233 day EMA also with waning momentum.  The NASDAQ was up and closed at it’s highest level in a month near 13500, which might be a resistance level.  It’s 4.4% under its 2/12 high, and momentum has been broadly down for weeks.

% Changes -

DJI30  +0.52% 

SP500 +1.18%   

NASDAQ  +1.76%    

Russell 2000 +1.50% 

DJI30 Closings -

04/01/19 - 26258

04/01/20 - 20944

03/01/21 - 31536

04/01/21 - 33153

NYSE Internals - 

A/D =  1814/1505 = 1.21

A/D Vol = 0.79

New Hi/Lo = 188/15 = 12.53