
Major U.S. stock indexes experienced a rebound at the end of the week, with the S&P 500 rising by 1.3%, marking its first gain since Christmas and its best day in nearly two months. The Dow Jones increased by 0.9%, while the Nasdaq climbed by 1.3%, driven largely by gains in technology stocks, notably Nvidia and Tesla. Nvidia's stock surged significantly, contributing to the overall market rally, despite Tesla facing a decline in sales and stock value. The Dow Jones, however, suffered a notable drop of 650 points earlier in the week, reflecting a volatile trading environment. The National Association of Active Investment Managers reported a decline in stock exposure for the third consecutive week, indicating cautious sentiment among asset managers. The market dynamics suggest mixed signals, with some indicators showing improvement in market breadth, while others reflect ongoing challenges.
$NVDA vs #Semis (SOX Index) Breakout time? $SPY $QQQ $ES https://t.co/TLK8xaUUss
The RTY $IWM 4-week lows hit an extreme level on 12/18 that mimics what we saw the last two occurrences (September ‘22 and March ‘23), with positive diverging lows vs. index price. Both previous times marked local bottoms in the index. $ES $SPY $QQQ https://t.co/CCYLqOZjAf
The percentage of #SPX members making 4-week lows bottomed on 12/20 and has been steadily climbing back to neutral despite the indexes making new lows. This is another positive divergence. That reading on 12/20 was the lowest since the September ‘22 lows. The SPX went on to… https://t.co/7m4n8Ml5xb
















