Bonnie’s Market Update 10/04/24

The rise slowed for the major averages. Six of the eleven S&P SPDR sectors were higher last week. Energy (XLE) and Financials (XLF) were the strongest, while Materials (XLB) and Consumer Staples were the weakest. The SPDR S&P 500 ETF Trust (SPY) gained +0.26%.

S&P SPDR Sector ETFs Performance Summary 9/27/24-10/04/24

100424 SPDR Sectors

Source: Stockcharts.com

Figure 2: Bonnie’s ETFs Watch List Performance Summary 9/27/24-10/04/24

100424 Bonnie’s ETF Watch List

Source: Stockcharts.com

China’s stock market rose sharply for the second week as investors and institutions purchased and closed their shorts. Small Caps, Growth, Value, Biotechnology, and Europe were lower.

Figure 3: Bonnie’s SPDR Sector ETFs Performance Summary 12/29/23-09/30/24

SPDR Sectors performance Jan-Sept 2024

Summing Up:

The major averages closed near their highs on Friday. The short-term trend remains up. Tape action continues to be positive, yet daily momentum patterns have weakened, implying an increased risk of a potential correction. Look for volatility to rise next week when Tuesday’s earnings season begins. Support on the S&P 500 Index is 5650,5500, and 5400. QQQ support is 482.00, 477.00, and 465.00. As long as support holds, the odds favor the bulls.

You can explore Bonnie’s market charts from last week and more HERE.

Let’s get to know each other better. If you have any questions or want to explore charts together, contact me at Bonnie@Bonniegortler.com.  Alternatively, you can go directly to my calendar to schedule a time. Click HERE:

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Bonnie S. Gortler

Bonnie Gortler, a Consultant, Coach, and Author, is a Wealth & Well-Being expert with over 35 years of experience in managing multi-million-dollar client portfolios at a top-rated investment firm. As the author of Journey to Wealth, Bonnie is dedicated to teaching the importance of risk management and achieving true financial well-being by integrating both the technical and mental aspects of investing. With an M.B.A. and certification as a life coach, Bonnie combines her passion for coaching, consulting, and blogging to inspire people globally. Her powerful techniques and winning mindset help others experience personal growth and financial success. Explore wealth-building tips, personal development strategies, and more at BonnieGortler.com, and discover how you can enhance your wealth and well-being.  


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