The S&P 500 gained 1.97% this week with Friday's close at 3,329.62. Friday's close is another fresh all-time high daily and weekly close. The index has now increased 13 of the last 15 weeks, and has climbed 16.58% from October 3rd of 2019's low at 2,855.94. The move over the last ~3 months has been astounding, and it's essentially responsible for all of the S&P 500's advance the past ~2 years. She's making up for lost time, so it seems.
The S&P 500 gained 0.94% this week with Friday's close at 3,265.35. Friday's close is yet another new all-time high weekly close. The price action this week was rather wild, and the tensions with Iran took center stage.
The S&P 500 declined -0.16% this week with Friday's close at 3,234.85. This week's decline is just the second weekly decline over the last 13 trading weeks. The index traded as high as 3,258.14 on Thursday, a fresh all-time high, only to then reverse to the downside on Friday. Friday saw the S&P 500 open at 3,226.36, trade down to 3,222.34, but close at 3,234.85. All of Friday's decline was attributable to the after- hours and overnight session before markets opened on Friday. The narrative here is easy: It was after market hours on Thursday when we learned about the death of I
The S&P 500 gained 0.58% this week with Friday's close at 3,240.02. Friday's close is yet another fresh all-time high weekly close. The index has now closed 8 of the last 9 weeks at new all-time highs, and has increased 11 of the last 12 weeks. Relentless remains the first word that comes to mind to describe what has transpired the last three months.
In our Weekly Market Update from December 15th, we wrote that:
The S&P 500 gained 1.65% this week with Friday's close at 3,221.22. Friday's close is a new all-time high daily and weekly close. The index has now increased four consecutive weeks, and 10 of the last 11 overall. The lone weekly decline since early October was a -0.33% decline over the week ending November 22nd. Relentless.
The S&P 500 gained 0.73% this week with Friday's close at 3,168.80. Friday's close is a new all-time high daily and weekly close. In our previous Update, we wrote that last week's upside reversal reeked of "accumulation", and that it was suggestive of further drawup over this past week. The S&P 500 traded rather quietly through Wednesday, but then spiked higher on Thursday, climbing all the way up to 3,176.28. The catalyst seemed to be the following tweet from President Trump:
Steve here. Before we get into the markets this week, I'd like to share some huge personal news for a family member of mine. Over the last 15 years, I've spent more time with Rick Nerad than anyone else. He's become far more than a friend, he's a brother. He's one of the most kind, caring, considerate, and reliable human beings I've ever met, and I'm positive these attributes have shined brightly for our clients who've gotten to know him over the years. He's been there for me, and he's probably been there for you, whenever we need him.
The S&P 500 gained 0.99% this week with Friday's close at 3,140.98. Friday's close is another fresh new all-time high weekly close. The index has now increased seven of the last eight trading weeks, and is higher by 9.98% from October 3rd's low at 2,855.94. This week saw the first trade of the week (i.e., the weekly open) record as the low of the week, and we didn't trade below last Friday's close at any point during the week. We traded as high as 3,154.26 on Wednesday this week, a fresh new all-time high, before pulling back a bit on Black Friday's holiday-shortened trading session
The S&P 500 fell -0.33% this week with Friday's close at 3,110.22. We came into this week on a six-week winning streak, and fell just short of making it to seven. The index traded narrowly again this week, with a weekly high at 3,127.64 on Tuesday and a weekly low at 3,091.41 on Thursday, a high-low range of just 1.17%.
The S&P 500 gained 0.88% this week with Friday's close at 3,120.38. Friday's close is yet another all-time high weekly close, the third in a row for the index. The index has now increased 6 weeks in a row, the first 6-week winning streak since October of 2017.
The S&P 500 gained 0.85% this week with Friday's close at 3,093.03. Friday's close is a fresh new all-time high daily and weekly close. The index has now increased five weeks in a row and is higher by 8.17% the last 25 trading days (slightly more than one month). Volatility was again muted this week with the S&P 500 trading as low as 3,065.89 on Wednesday, and as high as 3,097.77 on Thursday, a high-low range of just 1.04%.
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