It was a mixed week for US equity indexes, with net weekly changes ranging from +0.7% (Trans), +0.6% (Dow), +0.2% (Nasdaq comp'), +0.1% (SPX), -0.4% (NYSE comp'), to -1.2% (R2K).
Lets take our regular look at six of the main US indexes
The SPX saw a net weekly decline of -2pts (0.1%) to 2905. The bulls did break a new multi-month high of 2918, with a Thursday morning low of 2891. MACD (blue bar histogram) cycle remains at very elevated levels, with the market vulnerable to a sporadic and brief mini washout. New historic highs appear probable in May.
The Nasdaq comp' settled +13pts (0.2%) to 7998, having broken a new cycle high of 8052, a mere 135pts (1.7%) shy of the Aug'2018 historic high of 8133.
The mighty Dow settled +147pts (0.6%) to 26559, just 392pts shy of the Oct'2018 historic high of 26951.
The master index cooled by a moderate -46pts (0.4%) to 12922.
The R2K was the laggard this week, settling -19pts (1.2%) to 1565. The Russell is clearly struggling to break above the Feb' high of 1602.
The 'old leader' - Transports, lead the way higher this week, settling +76pts (0.7%) to 10988. Its notable that this week did break above (if briefly) the Dec' high of 11044. Recent earnings from CSX and UAL were fine, and especially impressive considering WTIC/fuel prices in Q1.
Four indexes settled net higher for the week, with two net lower.
The Transports lead the way upward, whilst the R2K was the laggard.
YTD price performance:
The Nasdaq comp' continues to lead the way this year, currently +20.5%, with the Transports +19.8%. The R2K is 16.1%, the SPX +15.9%, and the Dow +13.9%. The NYSE comp' is lagging, but still higher by a respectable +13.6%.
There is a veritable truck load of earnings...
M - HAL
T - TWTR, VZ, LMT, SNAP, KO, PG, UTX, EBAY, AMTD
W - BA, T, CAT, FB, MSFT, TSLA, V, PYPL, CMG, LRCX, XLNX
T - ABBV, UPS, LUV, MMM, F, AMZN, INTC, SBUX, GRUB
F - AAL, XOM, CVX, SNE
M - Existing home sales
T - FHFA house price index, new home sales, Rich' fed
W - EIA Pet' report
T - Weekly jobs, durable goods orders
F - GDP Q1 (first print), consumer sent'.
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Enjoy the Easter break :)
*the next post on this page will likely appear 5pm EDT on Monday.