Gene Peroni's Daily Podcast

The DJIA produced a nice pivot from the late September lows.

Today is the 33rd anniversary of the stock market crash in 1987.

As we begin the 3rd quarter earnings season there is some good technical cushion for the market to fall back on if there’s volatility.

In recent weeks I’ve been mentioning the improving structure of the DJIA from a technical standpoint.

The frontpage of today’s New York Times includes a graph of the S&P 500 from the drop in yesterday’s session after President Trump’s tweet.

Reports of President Trump’s improving condition gave the market a boost yesterday.

Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.

Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.

Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.

Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.

Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.

Dow caught support at the 26,750 area but I’m skeptical that level will ultimately hold.

The Dow making a stand at the 26,750 to 27,000 level, an area I’d mentioned as a support area some weeks ago.

While yesterday’s 400-point reversal wasn’t conclusive, it was encouraging and led by the technology momentum stocks.

In recent weeks the Dow has made several successful tests of the 27,500 level.

This week’s market action could be described in a number of ways, but by day end the Dow was some 400 points above the support level.

Nice rebounds in some of the momentum stocks, especially those representing consumer discretionary and technology, but what continues to catch my attention is…

New economy or old economy, take your pick; but this market has been extraordinary in that it hasn’t been reliant on just one theme.

The Dow holding the line once again on a 2nd test of support at 27,500, a nice bounce on Friday in contrast to some of the broader market indices.