Sunday March 29, 2020
The Markets Last Week !
The "all-time/52wk high" is 29,551.42, set on 2/12/2020. The 52 low is 18,591.93 set on 3/23/20.
The Nasdaq (7,502.38) finished the week up +622.86 (-9.05%), making it off -1470.23 (-16.39%) on the year. The index closed up + 415.86 (+15.96%) for 2012, up + 1137.08 (+37.66%) for 2013 and up + 559.46 (+13.40%) for 2014, up + 271.36 (+5.73%) for 2015 and up + 375.71 (+7.50%) for 2016.
The 52 week-high & all-time high is 9,817.18, set on 2/19/2020. The 52 week low is 6,860.67, set on 3/18/20. It took 15 years for the NASDAQ to start reaching new all time highs after the big crash 2000.
The SPREAD (3,559.54) finished the week up +429.25 (-13.71%), making it off -1803.32 (-33.63%) on the year. The index closed up + 261.89 (+7.76%) for 2015 and up + 50.14 (+0.94%) for 2016.
Both are basically the same market, with the only exception being about 250
OTC stocks in the VL (the rest, over 1500, are NY listed).
It tells us how the two separate markets are currently acting
with the VL leaning slightly to the OTC market.
The graph below shows the closing indices on (9/21/01), the end of the
first full week of trading after the Attack on America.
and the % over that low at the closing price on the week.
There is 1 Index with less than 10% to fall from the 52 week low this past week vs 11 the week before
versus 0 two weeks ago and 0 three week ago.
and cover this past week versus the week before.
The difference between these two indices is the SPREAD. The SPREAD climbs when the VL is climbing faster than the NY, and falls when the VL falls faster than the NY. The VL tends to lean more toward the direction of the Nasdaq stocks, or we could say, the big OTC stocks.
The OTC stocks carried in the VL (the only part of the " SPREAD (NY vs VL)" with
OTC stocks in it) are only a couple of hundred of the top OTC stocks, because the majority
of the stocks in the VL are NY listed, and none are smaller caps. This means when the VL
performs better than the NY it shows more buying in the top OTC stocks, or vice versa.
high and cover this past week versus the week before.
Zero indices set a new 52 week high this past week vs 0 the week before. 42a weeks ago we watched all the indices set a new 52 week high on the same day, but not since. There are 11 indices currently in bear market territory vs 10 the week before.
I have always said that when all the indices reach a new high on the same day it will be the top of the current market and it will turn down soon after. This happened on March 26, 2012 and the markets have not been able to accomplish that same thing again.
All the indices reached a new "all-time" on 4/23/2010, which turned out to have been the market top, taking 135 trading days (11/4/10) (27 weeks) to reach another high. The next time around they all reached an all-time high on 4/29/11, 233 trading days (44 weeks) before reaching another new all-time (3/26/2012).
When we look at the indices compared to the 52 week high, we get a look at the shorter picture. However, the discount to the "all-time high" (below) will continue to show the results of the longer term market.
than a 10
percent discount to the 52 week high is "one" definition of a correction.
The below figures are the discount to the all-time high
compared to this past weeks close.
Using this definition, there are currently 11 indices in bear market
territory compared to 11 two weeks ago and 8 three weeks ago.
Use caution and buy the bargains!
current market and what to look for this coming week.
Clicking on "The Current Market" will take you there!
past "monthly" performance on the indices going back to 1994.
Clicking on the "Index Gains & Losses" will take you there!
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metals, oil and currency futures updated weekly.
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for brief news headlines and updated buy, sell, hold
opinions on several Spotlight favorites from the past.
Clicking on the "Stocks To Watch" will take you there!
"If in the right stock, at the right price,
the market direction will mean little!"
There is still many negatives in the economy, and the markets, so continue to use caution and stick with value stocks for safety.
I am J.R. Budke and this is my opinion!
J.R. Budke was a stock
broker from 1981 to 2000, an options principle since 1982 and a branch
office manager since 1987. JR became inactive as a stockbroker on
12/31/99. J.R. writes most of the articles and opinions for the Stocks
in the Spotlight. The
stories and stocks found on this site, or any "Stocks in the Spotlight"
written material, are the opinions of J.R. Budke, unless other wise
stated, and should not be considered as advice. You should not purchase any stocks
solely on the opinions found on the "Stocks in the Spotlight's" web
site or in any of its written material. You should also be aware that
options are not for everybody and carry a high degree of risk.
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