Afternoon Note
Semiconductors continue to push gains in the S&P 500 after Taiwan Semiconductor Manufacturing (TSM) announced it expects revenue growth this year to be at least 20%, more than double the rate of the chip market.
A sizable gain from Apple (AAPL) after being upgraded to a Buy at Bank of Americas has offered some support to the broader market and Technology sector.
In general, there is a lack of conviction on the part of buyers and sellers. Market breadth was positive at the open but now there are more decliners in both NYSE and NASDAQ.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,062 |
1,696 |
Decliners |
1,719 |
2,346 |
New Highs |
52 |
68 |
New Lows |
45 |
160 |
Up Volume |
563.56 million |
1.82 billion |
Down Volume |
1.27 billion |
1.45 billion |
Tweet |
5/17/2024 1:45 PM | Near Record Highs |
5/17/2024 9:31 AM | DIFFERENT VALUATION METRICS |
5/16/2024 1:23 PM | Dow 40,000 |
5/16/2024 9:40 AM | AUTOPILOT FEELS SO GOOD |
5/15/2024 1:53 PM | New Hope |
5/15/2024 9:41 AM | CHAMPING AT THE BIT (INVESTORS BEGINNING TO CHASE) |
5/14/2024 1:24 PM | Small Moves |
5/14/2024 9:22 AM | Marking Time |
5/13/2024 1:37 PM | Snuffed Out |
5/13/2024 9:37 AM | BRACING FOR MORE INFLATION DATA |
5/10/2024 1:23 PM | Cold Water |
5/10/2024 9:58 AM | IN TUNE |
5/9/2024 1:09 PM | Disconnect |
5/9/2024 9:39 AM | THE SEVENTH (TRADING) DAY OF MAY |
5/8/2024 1:49 PM | Mixed Note |
5/8/2024 9:37 AM | CHANGING NARRATIVES |
5/7/2024 1:50 PM | Building Gains |
5/7/2024 9:36 AM | HOPING MICKEY SAVES THE DAY |
5/6/2024 1:59 PM | Rate Cut Hopes |
5/6/2024 9:17 AM | LOOKING FOR MOMO TO KICK BACK IN |
5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
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