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A run on the Turkish Lira and ominous comments from the Russian Prime Minister about economic war and beyond after the U.S. imposed additional sanctions on both Turkey and Russia, respectively, sent the indexes gapping down on Friday. The NASDAQ Composite Index gapped down off its highs on heavy volume after posting eight-straight up days in a row. I’ve never understood... [more]

Earnings roulette continues to be the primary driver of significant price moves among individual stocks, including the usual assortment of big gaps to the upside and the downside. There are, however, some exceptions. Most notably, Tesla (TSLA), which rallied sharply as a news-mover after CEO Elon Musk tweeted that he... [more]

Stock averages continue to hold their own as proceedings move through a normally slower season of vacations. While volume left a little something to be desired on the S&P 500’s latest move to a new high, turnover on the Nasdaq made up for that. ... [more]

The averages make progress as they put their brief June swoon behind them. Volume remains less than desired, especially at the level of the averages. For example, activity has actually diminished on all four S&P rallies since the Apr. 2 low. ... [more]

Stocks remain in the driver’s seat, with Friday’s wide-range bar and good close of particular note. Volume has been well below average on this rally, part of which may be due to caution ahead of earnings season. Leadership in the Nasdaq is coming together gradually as patterns are repaired and in some cases completely rebuilt following the 5% June reaction. Within the list, technology... [more]

Stocks are in the second week of a well-deserved 5% reaction for the Nasdaq Composite. Most leading stocks, though lower, are in good shape, with about 44 of them trading within 10% of their 52-week high. The fact that there is some semblance of order to many growth-stock charts leads one to expect continued outperformance by this sector once the averages find their sea legs. With... [more]

The speculative sentiment peaked early last week and led to a few days of selling, with the biggest damage occurring in tertiary names, recent new issues in particular. Proceedings had gotten frothy in titles like Scholar Rock Holdings (SRRK), Iqiyi (IQ), Dropbox (DBX), Carbon Black (CBLK), Zuora (ZUO), Huya (HUYA), Puxin (NEW), et al. From last week’s report: “Should... [more]