Market Insights

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Check out our next “State of the Market,” on Monday, 10/21.

Tickets for the Crossroads Summit 2024, sponsored by TradeStation Group, can be accessed here.

Sizing Up the S&P 500

• S&P 500 inches higher as breadth widens
• Bullish inside day on 10/16
• Advance / decline line keeps rising
• 50-day MA continues to accelerate
• Intermarket:
  • VIX below September peak but above summer low. Space to the downside?
  • 10-year Treasury yield stalls at trendline from April

Groups & Sectors

• Russell 2000 leads indexes with 4 percent gain in the last week
  • Index closed yesterday at highest level since January 2022
  • 200 index members made 52-week highs on Wednesday, up from 28 on 10/10
    • Nasdaq-100 new highs fell from 7 to 5 in same period
• Airlines surge on margin expansion, strategic actions
• Financials outperform: Life insurance, private equity, retail brokers
• Technology lags as money shifts from chips
• Nasdaq-100 stalls below July highs.
  • Semiconductors in bearish outside week
  • Technology sector index had a bearish outside day on 10/15.
  • ASML warning
  • Hedgeye makes bearish call on AMAT
• Solar remains under pressure

Upcoming Events

• Earnings this afternoon: NFLX
• Fri 10/18: Housing starts / building permits
  • Earnings: AXP SLB
• Tue 10/22:
  • Premarket earnings: GE GM MMM LMT RTX VZ
  • Postmarket earnings: TXN ENPH STX
• Wed 10/23: Existing home sales, crude oil inventories
  • Premarket earnings: BA KO T
  • Postmarket earnings: TSLA IBM LRCX NOW TMUS
• Thu 10/24: Initial jobless claims, new home sales
  • Premarket earnings: AAL LUV UPS DOW CARR

Standardized Performances for ETF mentioned above

Security futures are not suitable for all investors. To obtain a copy of the security futures risk disclosure statement Investment and Trading Disclosures Booklet – Futures.

Performance data shown reflects past performance and is no guarantee of future performance. The information provided is not meant to predict or project the performance of a specific investment or investment strategy and current performance may be lower or higher than the performance data shown. Accordingly, this information should not be relied upon when making an investment decision. 

Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.