IntraSwing71Kis_M21 _ Mini-Russell CME

S&P 500 Index (SPX) - Daily Chart - Aug 1 - 31, 2022 (Source: Tradingview)

Aug 1

• The markets hovered nearly unchanged following a sizzling July rally. Investors are questioning how sustainable market strength may be in the face of a potential recession.
• The Dow lost 47 points, the S&P fell 0.28 points, and the Nasdaq went down a mere 0.06%
• The latest read on manufacturing shows a modest slowdown in the sector, though a better situation than what most economists predicted.
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Aug 2

• Stocks saw a downday with markets on edge over Nancy Pelosi’s visit to Taiwan in addition to Federal Reserve officials saying that it may be quite some time before inflation fina;ly eases.
• The S&P lost 0.67%, the Nasdaq lost 0.30%, and the Dow fell 402 points, almost 1.25%.
• Anxiety in the markets caused interest rates to spike up, causing rate-sensitive stocks to pull back.
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Aug 3

• Wall Street showed a wave of optimism with upbeat economic ISM data setting the tone for today’s rally.
• The Dow soared 416 points, the Nasdaq and S&P rising 2.73% and 1.56% respectively.
• New orders largely picked up. Though consumer prices still rise, they appear to do so at a slower rate. Both big and small technology names broke out of summer trading ranges, adding to the already huge growth in tech from July.
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Aug 4

• Stocks were mixed today as consumers waited for the anticipated jobs report on Friday. 
• The Dow fell 85 points, the S&P lost a mere 0.08%, but the tech-heavy Nasdaq gained 0.44%.
• Consumers seem to be moving toward big growth names, buying into technology but selling energy and value oriented stocks.
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Aug 5

• Although it was a volatile and choppy day on Wall Street, stocks ended flat, more or less.
• After dropping 200 points, the Dow gained 76 points. The S&P lost a mere 0.08%, and the Nasdaq lost 0.78%.
• The monthly jobs report blew past analyst expectations, along with a wage growth of 5.2% surpassing the predicted 4.9%. Though stronger jobs can lead to a stronger consumer market, this didn’t exactly play in favor of the Federal Reserve’s efforts in trying to slow economic growth.
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Aug 8

• Wall Street kicked off the week on a cautious note, ending flat for the day.
• The Nasdaq lost 0.37%, the S&P fell 0.12%, and the Dow gained a mere 29 points. 
• Chip giant Nvidia set the tone for the day with a pre-announcement of weaker revenue for the second quarter. 
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Aug 9

• Stocks drifted modestly lower as investors waited for the upcoming CPI report.
• The Dow lost 58 points and the S&P went down 0.42% while the tech heavy Nasdaq fell 1.15%.
• Chip stocks continue declining due to Micron warning that revenue may fall short.of its prior guidance.
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Aug 10

• The market surged this Wednesday with a tame read on CPI data lighting a fire under stocks. 
• The Dow went up 535 points along with the S&P rising 2.13%, and the Nasdaq going up 2.85%.
• Both CPI and Core CPI data reported lower than what was estimated which is good news for the market bulls who are looking for proof that inflation is peaking.
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Aug 11

• An early morning rally in the market faded fast after PPI reports came in, leaving stocks flat at the end of the day.
• The Dow went up a mere 27 points, the S&P went down 0.07%, Nasdaq dropped 0.65% for the day.
• PPI reports were lower than expected, with prices still rising on an annual basis, but at a slower pace than what was seen recently.
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Aug 12

• Stocks rose sharply on Friday as investors celebrated signs that inflation may be peaking. 
• The Dow went up 424 points, the Nasdaq gained 2.06%, and the S&P rose 1.73%.
• Better than expected PPI and CPI data helped bolster consumer confidence for the week.
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Aug 15

• Stocks started down for the day but recovered their losses and then some.
• The Dow rose 151 points, the S&P climbed 0.40%, and the Nasdaq went up 0.75%
• The markets continue to climb despite lousy data from China, disappointing data from the Empire manufacturing data, and other not-so-promising economic news.

Aug 16

• Stocks drifted mostly higher today; the Dow rose 239 points, the S&P climbed 0.19%, but the Nasdaq went down 0.23%.
• Relief from big retailers came after the world’s largest retailer reported big earnings and accelerated comparable sales.

Aug 17

• The market was choppy this Wednesday with most of the major indices ending in the red.
• The Dow lost 171 points, the S&P slipped 0.72%, and Nasdaq fell 1.21%.
• An announcement from the Fed saying that it’s considering lowering rate hikes helped stocks bounce back from their session lows.
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Aug 18

• It was a very slow trading day as many major averages remained flat.
• The Dow advanced a meager 18 points, the S&P rose 0.23%, and the Nasdaq climbed 0.26%.
• Energy and the tech sector were the best performing groups that led the S&P higher, Still, with so much gains in such a short time, the market seemed due for a breather.
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Aug 19

• The summer rally faltered as stocks tumbled to end the week.
• The Dow fell 291 points, along with the S&P and Nasdaq losing 1.29% and 1.95% respectively.
• The Nasdaq was the biggest weekly loser, having fallen 2.62% over the last five days. 
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Aug 22

• With the summer rally at an end, stocks fell sharply as the market faced its worst days since June.
• The Dow lost 643 points, the S&P fell 2.14% and the Nasdaq went down a considerable 2.66%.
• Recession in Europe and rising bond yields are among the concerns that placed the summer rally into question. Further threats to Europe’s energy supply added to lingering global woes.

Aug 23

• Concerns deepened with the major averages ending slightly below the flat line, though in the red.
• The Dow lost 154 points and the S&P fell 0.22%, but the Nasdaq barely moved lower (a mere 0.07%).
• Weakness in healthcare stocks weighed on the Dow as the sector proved to be today’s biggest laggard.

Aug 24

• It was a slow and choppy day on Wall Street, but stocks were able to end in the green.
• The Dow gained 59 points, the S&P and Nasdaq rose 0.29 and 0.28 respectively.
• With consumers waiting in suspense for the Fed’s keynote speech in this year’s Jackson Hole conference, the market seems unpredictable for the time being.

Aug 25

• The day started slow but stocks eventually crawled up to highs by the close.
• The Dow ended up 322 points, the S&P gained 1.41%, and the Nasdaq went up 1.75%.
• Semiconductors held on strong despite poor guidance from Nvidia. Other big tech names were able to lift the sector despite disappointing guidance from Salesforce.
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Aug 26

• The market plunged this Friday after the Fed announced their more aggressive stance toward inflation.
• The Dow plummeted 1008 points and both the S&P (-3.37%) and Nasdaq (-4.10%) suffered huge losses
• With bearish momentum bringing the week into a close, the market logged its second week of declines.

Aug 29

• The market remains bearish after the Fed’s announcement on Friday. 
• Despite a good start, the Dow lost 184 points, the S&P slid 0.67%, and the Nasdaq fell 0.96%.
• Growth in tech stocks fell back today while energy stocks continued their rally.
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Aug 30

• Stocks were under pressure for a third straight day with the Dow ending down 300 points.
• All three indices ended down 1% each with the S&P closing below the 4,000 mark.
• The JOLTS report showed much higher job openings than expected. Employers are looking to hire despite high inflation and slowing growth.
• This is a disappointment for the Fed as its attempts to cool hiring by raising short-term rates. Also, a tight labor market indicates the potential for sustained wage inflation and wage growth.
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Aug 31

• The indices are flat as Wall Street attempts to avoid a fourth straight day of losses.
• Reporting mid-day, the Dow slipped 76 points, the S&P 500 is down by 0.1% and the Nasdaq is barely under the flat line.
• Investors have been debating for weeks whether the US is in a recession or moving toward one. Some thought that the downturn might give the Fed reason to ease up on its rate hikes. But after Fed Chair Jay Powelll’s Jackson Hole speech, hopes of easing in monetary policy have largely been quashed.