Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

Copyright Notice

Everything that appears on this blog is the copyrighted property of somebody. Often, but not always, that somebody is me. For things that are not mine, I either have obtained permission, or claim fair use. Feel free to quote me, but attribute, please. My photos and poetry are dear to my heart, and may not be used without permission. Ditto, my other intellectual property, such as charts and graphs. I'm probably willing to share. Let's talk. Violators will be damned for all eternity to the circle of hell populated by Rosanne Barr, Mrs Miller [look her up], and trombonists who are unable play in tune. You cannot possibly imagine the agony. If you have a question, email me: jazzbumpa@gmail.com. I'll answer when I feel like it. Cheers!

Tuesday, July 6, 2021

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.





















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