Jon Stewart's Skewering of Trump in New York Civil Fraud Cause Just Blew...
Did the Hosts of 'The View' Do Their Homework When They Invited This...
Actually, Kate Middleton Does Have a Body Double...Sort of
Hard Times for the Professional Never Trump Losers
President Joe ‘Forrest Gump’ Biden
Checking the Black Box
Here's What Trump Had to Say About RFK Jr.'s VP Pick
VDH Explains What Any 'Normal' President Would Do About Border That Would End...
Yes, a Terrorist Attack Is Coming to America
Americans Can Tell the Difference Between Rosy Economic Data and Reality
What's Wrong With America's 'Elites'?
Did Jamaal Bowman Just Help His Primary Challenger?
Fani Willis Calls Jim Jordan's Investigation Into Her Office 'Politically Motivated'
Tyson Foods Fires U.S. Workers, Exploits Illegal Aliens for Profits
We Must Return to a 'Peace Through Strength' Foreign Policy
OPINION

Have The Summer Doldrums Arrived?

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement
AP Photo/Richard Drew, File

Thursday’s session seems so long ago, and I am not sure it was just because we had a three-day break from trading. In this 24-7 cable news cycle, headlines change (but in so many ways, remain the same) every day. There has been a lot to ruminate on, although I hope most people just chilled and celebrated July 4th with as many family and friends as they could.

Advertisement

All major indices closed higher on Thursday and for the week. The financial media was trying to turn a positive session into a negative because stocks pulled back from session highs. I was happy to see as many plus signs as we did, considering all the things that could have gone wrong over an extended weekend.

Most investors checked out midway through the session, as all the major indices traded significantly less than the average daily volume.

Index

Thursday’s Volume

Daily Average

S&P 500

2.3 billion

5.7 billion

Dow Jones Industrial Average

350 million

430 million

NASDAQ Composite

3.7 billion

4.3 billion

 

Volume has been light for some time, but there is no doubt would-be buyers moved in quickly last week.  The question is: could we see summer doldrums?  The market has been calmer, although each session feels like a coin toss, even when we see big gains or losses out of the gate. The market breadth was decidedly bullish; the new highs to lows, particularly on the NASDAQ, underscored the popular trend of chasing winners.

Advertisement

Market Breadth

NYSE

NASDAQ

Advancing

1,855

1,864

Declining

1,103

1,454

52 Week High

91

176

52 Week Low

3

11

Advancing

2.90B

2.38B

Declining

1.25B

1.57B

 

Earnings season is around the corner, so each day, we’ll study results and continue to watch for states’ reactions to increased coronavirus cases, hoping that death rates do not climb as rapidly as new cases.

Portfolio Approach

Today’s Session

The markets in rally mode.  Gap openings have a tendency to pullback. Let's see what investors do. 

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos