Taking Stock. Week of May 24, 2021

Monday, May 24, 2021

Green Arrow Up

DJI Index at the close --- 34,393.98 +186.14 (+0.54%)

The Index opened at 33493, up 46 points. It climbed to 43450, up 242 at 11:30, then fell back to 34370 an hour later. It did not go below that level again. Instead, it climbed to the hi of 34473 at 2:15 and hovered near that level for about an hour. It then slumped about 50 points into the close.

This is a clearly up day, with the hi and lo up by 57 and 131 points, respectively. The span was 219.

The SP500 and NASDAQ had similar contours to the DJI. The Russell 2000 had more exaggerated slumps at mid-day and the end. All the indexes had clearly up days, and all remain below their recent lows. The NASDAQ gained the most.

This is the 3rd consecutive clearly up date, by modest margins, and all the indexes are slowly moving above their respective support zones.

That's about it.

% changes -
DJI30 +0.54%
SP500 +0.99%
NASDAQ +1.41%
Russell +0.54%

DJI Closings -
5/24/19 - 25586
5/22/20 - 24995
4/23/21 - 34043
5/24/21 - 34394

NYSE Internals -
A/D = 2174/1153 = 1.89
A/D Vol = 2.02
New Hi/Lo = 202/26 = 7.77

Tuesday, May 25, 2021

Red/Orange Arrow Down

DJI30 index at the close   ---   34,312.46  -81.52 (-0.24%)

The Index opened at at 34429, up 35 points, and quickly rose to 34511, up 117.  It dropped to 34380 before 10:00 and went sideways until after 11:00, when it dropped to a lo of 34313, off 81. It rose to 34460 before 12:30, then dropped again, and kept dropping until it hit the day's lo of 34266, off 128 points, just a few minutes before the close. The trend was down for the entire session.

This was a mixed day: the hi and lo were higher by the small margins of 39 and 12 points, but the close was off by 82.  The span was 245.

All the indexes had roughly similar contours: they started positive, and on the way down coiled around neutral before landing in the red.  The NASDAQ lost the least, and the Russell 2000 lost the most.  The NASDAQ and SP500 also had mixed days, while the the Russell had an outside day.

The DJI, SP500 and NASDAQ are still positive for the week, since yesterday's gains were larger than today's losses.  But the Russell is off 10 points.  And all are below their peaks from earlier in the month or year.  The best anyone can say about any of the indexes is that they are moving sideways.  

% changes -

DJI30 -0.24%

 SP500 -0.21%

NASDAQ -0.03%

Russell -0.97%

DJI Closings -

5/24/19 - 25586

5/22/20 - 24465

4/23/21 - 34043

5/24/21 - 34312

NYSE Internals -

A/D = 1229/2059 = 0.60

A/D Vol = 0.44

New Hi/Lo = 192/26 = 7.38

Wednesday, May 26, 2021

Yellow Arrow Sideways

DJI30 Index at the close   ---   34,323.05 +10.59 (+0.03%)

The index opened at 34336, up 24 points, and quickly jumped up to 34410, up 97.  It then fell, landing at 34271, off 41, at 10:00.  By 11:00 it was back up near the 34410, and then moved mostly sideways until 1:00, when it fell again.  It landed at 34290 at 3:00 and moved mostly sideways, staying below 34325 into the marginally positive close. 

This is an inside day, with the hi lower by 102 points and the low higher by 5.  The span was a surprisingly narrow 138 points – about 40% of yesterday's 347.  The SP500 had a roughly similar contour, and an inside day, but didn't slip as much in the afternoon.  The NASDAQ rose in the morning and ran mostly flat in the afternoon.  It also had an inside day, with the hi lower by a single point.  Russell kept rising all day, gaining almost 2%. It was a clearly up day, but by only a couple of points at both ends. The big gain happened because yesterday's close was near the bottom of the day's range, while today's close was near the top.

All of the indexes have been moving sideways for the last several weeks (DJI and SP500) or months (NASDAQ and Russell.)  I'm going to guess that these moves are counter-current in a bull market that has not yet completely spent itself.

% changes -

DJI30 +0.03%

SP500 +0.19%

NASDAQ +0.59%

Russell +1.97%

DJI Closings -

5/24/19 - 25586

5/26/20 - 24995

4/26/21 - 33985

5/26/21 - 34323

NYSE Internals -

A/D = 2257/1082 = 2.09

A/D Vol = 3.64

New Hi/Lo = 154/24 = 6.42

Thursday, May 27, 2021

Green Arrow Up

DJI30 Index at the close   ---   34,464.64   +141.59 (+0.41%)

The index opened at 34432, up 109 points.  Ten minutes later, it was at 34609, up 286.  From there it slid down 34400 at 11:30.  It then ran mostly sideways until 3:30.  In the last several minutes it rose to 34500, then at the very end  fell about 35 points into the close.

This is a clearly up day with the hi and lo higher by 199 and 118 points, respectively.  The span was a modest 229 points.  The SP500 and Russell were also clearly up today. The NASDAQ had higher hi and lo, but the close was marginally down.  They all are well within the ranges established over the last several weeks or months.  Each had its own contour over the course of the session.

The week has been positive so far, with very little drama.  

% changes -

DJI30 +0.41%

SP500 +0.12%

NASDAQ -0.01%

Russell +1.06%

DJI Closings -

5/26/19 - 25126

5/27/20 - 25548

4/27/21 - 33985

5/27/21 - 34465

NYSE Internals -

A/D = 2104/1207 = 1.74

A/D Vol = 1.95

New Hi/Lo = 230/25 = 9.20

Friday, May 28, 2021

Yellow Arrow Sideways

DJI30 index at the close   ---   34,529.45   +64.81 (+0.19%)

The index opened at 34559, up 94 points and immediately shot up to 34631, up 166.  After a retreat back to 34520 at 10:30, it rose again to 34610 at 12:30.  It then stayed above 34555 until the last few minutes, when it dropped into the close.

This is a clearly up day, with the hi and lo higher by 22 and 131 points, respectively, and the index in the green the entire session.  But the closing gain, only 9 points above the lo, is so minimal, the yellow arrow is warranted. The span was an extraordinarily narrow 111 points.

The SP500 and NASDAQ also had clearly up days, by small margins.  Aside from the slides at the end, these three indexes were basically flat after their early morning gains.  The Russell 2000 had a higher hi and lo as it coiled around its neutral line, but wound up slightly negative for the day. 

This was a positive week for all the indexes, though with no new highs. These were the weekly percentage gains.

DJI30 +0.94%

SP500 +1.16%

NASDAQ +2.06%

Russell 2000 +2.42%

With the Memorial Day Holiday on Monday, today was the last trading session of this flatish month.  Monthly changes were as follows.

DJI30 +1.93%

SP500 +0.55%

NASDAQ -1.53%

Russell 2000 +0.11%

Today's Stats:

% changes -

DJI30 +0.41%

SP500 +0.12%

NASDAQ -0.01%

Russell +1.06%

DJI Closings -

5/24/19 - 25586

5/26/20 - 24995

4/26/21 - 33985

5/26/21 - 34323

NYSE Internals -

A/D = 1958/1344 = 1.48

A/D Vol = 0.98

New Hi/Lo = 225/17 = 13.24