Craig Johnson’s

Stock Market Summary

Friday, May 11, 2018

U.S. Stock Market (S&P 500 Index) Trends:
       ST – Higher/Neutral, IT – Higher, LT - Higher 
U.S. Stock Market (Nasdaq Composite) Trends:
       ST - Higher, IT – Higher, LT - Higher  
Short Term Trend (ST) - Weeks to months
Intermediate Term Trend (IT) – Months to full year (most important trend for us)
Long Term Trend (LT) – Years 
  • The major market indices have had a strong week so far gaining over 2%. The S&P 500 Index short term trend moved to Higher/Neutral and the Nasdaq Composite short term trend moved to Higher.
  • The Russell 2000, which had been the laggard for much of the rally since the current move higher began in November 2016, has been the recent leader of the major market indices. As of yesterday’s close, the index is less than 1% from an all-time high.
  • The volume of reports this earnings season is winding down this week. There will be more reports still to come in the coming weeks, but at a dramatically reduced number.
  • Energy, Financial, Technology and Industrials have led all of the sectors so far this week, with each gaining over 3%. The Utilities sector has suffered the largest decline for the week with Consumer Staples also negative.
  • This week’s price action has been very encouraging for an up trending stock market. Ideally, further progress in the near future accompanied with a surge in volume would leave little doubt that the rally that has been in a consolidation since the late January high has returned.

Sources:,, Dow Jones News,, Investor's Business Daily,,, Thomson Reuters/First Call, U.S. Dept of Treasury, individual company web sites and press releases.

Leonetti & Associates, LLC views or opinions are as of a certain date and subject to change without notice.  The material contained herein is for informational purposes only and obtained from sources we consider reliable. We make no guarantee as to its accuracy or completeness.  References to specific securities and industries/sectors should not be considered recommendations to buy or sell any security or advisory service.  Past performance is not a guarantee of future results.