Stock Market Update: July 8, 2021

 From a stage analysis viewpoint, we are in Stage 2 Accumulation (see stage analysis overview here) with the market continuing to go up.

One of the gauges I like to look at is the Dow vs NYSE Advance-Decline. (Barron's used to produce it but stopped so I make my own chart.) It's a bad sign for the market when the Dow is advancing more than the NYSE, which we see in March of 2020 when COVID hit. Likewise, it's a positive sign when the NYSE is above the Dow. That's where we are now. It's one of the biggest divergences I've seen in a while.

Stories of interest:

• 123 Year Old Mechanicville hydroelectric plant mining bitcoin
• Stock rotation - tech up top
• Stockcharts - Has the market jumped from cautious to bullish?
  

Mid-Year Performance Review - July 5, 2021

Let's look at how the market is performing so far this year. It's been a good year so far.

• DOW:       +13.66%
• S&P:        +15.87
• NASDAQ: +13.59
• GLD:        -6.21

If we look at the charts going back to September 2020, we can see visually how things are progressing.

 Be cautious a pull back may be in order. We are in interesting times!