Weekly Market Review 201223# Stock
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Market traded diverge against the weak economic data throughout the week
that most of the releases were on the lower end of analyst's expectation,
stocks soared after the Fed's speak on possible operation twist extension
this past week. From the technical front, the S&P bounced back strong after
breaking below its 200day moving average, at the same time that the market
went into the bearish extreme as shown on low readings from the percentage
of stocks above 50day moving average. However, the industrial blue chips are
still under the downtrend pressure that the NYSE composite is heading for
another test ahead of its 200day line. Aside from stocks, bonds took a small
hit after Treasury reached its historical lows. Market is likely to stay on
sideway this coming week ahead of the euro zone elections, especially for
the Greek election scheduled next Sunday.
Technical Highlights:
• Stocks rallied after marking its lowest level of the year, small
cap stocks gained the most in this release rally.
• Although both the S&P500 and the NASDAQ composite rebound from
their 200day in this rally, the NYSE composite is still under the downtrend
pressure and it may become a barrier for stocks to move higher ahead of its
200day line.
• Financials led the rebound after the speak from the Fed;
Historical performance continue to show weakness for the offensive stocks
and strength from the market neutral group.
• The entire Treasury curve lift upward after marking its historical
lows a week ago; Support ahead of the 10yr (@1.72) may give a small rebound
for bonds.
read more at...
http://plus.alpbeta.com/report/201223.pdf
that most of the releases were on the lower end of analyst's expectation,
stocks soared after the Fed's speak on possible operation twist extension
this past week. From the technical front, the S&P bounced back strong after
breaking below its 200day moving average, at the same time that the market
went into the bearish extreme as shown on low readings from the percentage
of stocks above 50day moving average. However, the industrial blue chips are
still under the downtrend pressure that the NYSE composite is heading for
another test ahead of its 200day line. Aside from stocks, bonds took a small
hit after Treasury reached its historical lows. Market is likely to stay on
sideway this coming week ahead of the euro zone elections, especially for
the Greek election scheduled next Sunday.
Technical Highlights:
• Stocks rallied after marking its lowest level of the year, small
cap stocks gained the most in this release rally.
• Although both the S&P500 and the NASDAQ composite rebound from
their 200day in this rally, the NYSE composite is still under the downtrend
pressure and it may become a barrier for stocks to move higher ahead of its
200day line.
• Financials led the rebound after the speak from the Fed;
Historical performance continue to show weakness for the offensive stocks
and strength from the market neutral group.
• The entire Treasury curve lift upward after marking its historical
lows a week ago; Support ahead of the 10yr (@1.72) may give a small rebound
for bonds.
read more at...
http://plus.alpbeta.com/report/201223.pdf