Bonnie’s Market Update 10/11/24

Gains for major averages continued. Six of the eleven S&P SPDR sectors were higher last week. Technology (XLF) and Industrials (XLI) were the strongest, while Consumer Discretionary (XLY) and Utilities (XLU) were the weakest. The SPDR S&P 500 ETF Trust (SPY) gained +1.15%.

S&P SPDR Sector ETFs Performance Summary 10/04/24 – 10/11/24

101124 SPDR Sectors

Source: Stockcharts.com

Figure 2: Bonnie’s ETFs Watch List Performance Summary 10/04/24 – 10/11/24

101124 Bonnie’s ETF Watch List

Source: Stockcharts.com

China’s stock market fell as profit-taking occurred after two weeks of significant gains. Semiconductors, Technology, Biotechnology, and Small-Cap Growth were higher as global markets lagged.

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

A Few Favorites:

Figure 3: NYSE New Lows

101124 NYSE New Lows

Source: Stockcharts.com

Figure 4: Nasdaq New Highs

101124 Nasdaq New Highs

Source: Stockcharts.com

 Figure 5: S&P 500 and NYSE New Highs and New Lows

101124 S&P 500 NYSE Highs and Lows

Source: Stockcharts.com

Figure 6: Valueline Arithmetic Index Weekly

101124 Weekly VLE

Source: Stockcharts.com

Figure 7: QQQ Daily

101124 Daily QQQ

Source: Stockcharts.com

For more of Bonnie’s market charts from last week and more, Click HERE.

Summing Up:

The major averages closed near their highs on Friday. The short-term trend remains up. Market breadth improved in the latter part of the week. Nasdaq had the most new highs since mid-September, which are rising, and New Lows on The NYSE remain in a low-risk zone. Support on the S&P 500 Index is 5650 and 5400. QQQ support is 482.00 and 465.00. Earnings season continues, which could add to daily volatility. As long as support holds, the odds favor the bulls for the market to work higher in the short term.

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:

If you like this market update, you will love my free Charting Charting Master Class. Sign up here.

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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