Previous Tidbits

Yesterday's rally was part of a relief rally, driven by easing uncertainty, and part Trump rally. Call it what you will, but it was a thunderous move across all exchanges.

All the markets we follow took it on at chin last week, as you'll notice by the charts below. The S&P 500 was down 108 points or 1.85%.

Yesterday, all the markets took a hit as buyers disappeared into the close. The seasonal volatility I’ve mentioned over the past several weeks has now arrived. The current volatility is occurring for several reasons, the most notable being the upcoming election.

I have been saying for a while to proceed with caution. The market was setting new highs on light volume, which is never good!

Stocks were down across the board yesterday as a rise in bond yields, and the dollar is the recent culprit that created selling in all exchanges.

All markets today were weighed down by rising bond yields, particularly the small-cap Russell 2000.

All indexes continued their forward momentum. Volume picked up slightly on the S&P500, while the Small Cap Russell saw impressive volume on Tuesday.

Before I talk about Upstart, let’s talk about the overall market today. All indexes, as you see, had very nice gains again today.

All indexes set new highs for the week ending 10/11/24. I am surprised, to say the least. Volume on both the S&P 500 and the NASDAQ Composite was extremely light.

All indexes we follow closed down today: S&P 500 5,695.94 down -0.96%, the NASDAQ down 41,954.24 -1.18%, and the Russell 2000 (2,193 -0.89%).