Stock Market Weekend update - 5/19/24
THANKS to all my friends who have been providing their positive feedbacks to my updates! You are the force to encourages me to provide more updates. Market Update The stack market saw some upside and it was a reasonable good week for the stocks. There were many critical economic data PPI, CPI, Retail Sales. The During the week, the S&P 500 popped to the top-side of its multi-year high and closed above 5300. Nasdaq had a new all-time high and Dow Jones cruised above 40,000 for the first time in history. As a matter of fact Relative Strength Index (RSI) pushed above 70 but now it's around 69.3. What it means is the stock market seems to be getting little overbought. So, it won't be surprising to see little pullbacks. Economy Reports On Tuesday the producer Price Index PPI) came at 0.5% vs. 0.3% expected. So it was not good great report but market did not go down because investors waited patiently for CPI data which was released on Wednesday, 5/15. For...
