The Canadian Vanguard Stock Market Report At Market Close – Tuesday, December 17, 2024
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The Toronto Market
The TSX composite declined again today but declined off the day’s lows. The index was down -27.09 points or -0.11% to close the market session at 25,119.71. The TSX has now been down seven of the last eight market sessions.
Today’s Statistics: Today, the declined issues (Decliners) outnumbered the gaining issues (Advancers). There were three Decliners for every two Advancers or a more exact ratio of 1.51-to-1.0. In real numbers, there were 1,144 Decliners to 754 Advancers while 153 stocks remained Unchanged.
The total volume of shares traded at the TSX today was 418,745,681, or 5% higher when compared to the volume of 398,314,075 shares traded yesterday.
Today, there were 127 new 52-Week Highs and 44 new 52-Week Lows. By comparison, there were 179 new 52-Week Highs and 50 new 52-Week Lows yesterday. The TSX’s recent bearish trend continued today.
Market Roundup: The market remains bearish but there are some indications that the market may be try to vacate the bearish stance. However, we need a few more sessions to confirm that a change in trend may be on the way.
The US Markets
All the indexes finished today’s market session in red! The Dow Jones Index declined -267.58 points or -0.61% to close at 43,449.90. The S&P 500 index declined -23.47 points or -0.39%, to close at 6,050.61. The Nasdaq Composite was down -64.83 points or -0.32%, to close at 20,109.06.
Today’s Market Statistics: At the NYSE, the declined issues (Decliners) completely outnumbered the gaining issues (Advancers). There were roughly three Decliners for every Advancer or a precise a ratio of 2.77-to-1.0. In actual numbers, there were 3,026 Decliners to 1,089 Advancers with 327 Unchanged.
Today, there were 106 new 52-Week Highs and 207 new 52-Week Lows. By comparison, yesterday, there were 224 new 52-Week Highs and 180 new 52-Week Lows. The bears prevailed today, the bulls were present but no doubt about it, the bears prevailed.
The total volume of stocks traded at the NYSE today was 1,209,851,847, or 18% higher when compared to the volume of 1,026,664,448 traded yesterday.
On the NASDAQ, the Decliners totally outnumbered the Advancers. Roughly, for every Decliner there were xx Advancers or a precise ratio of 1.05-to-1.0. In actual numbers, 2,834 Decliners to 2,148 Advancers with 223 Unchanged.
Today, there were 125 new 52-Week Highs but 237 new 52-Week Lows. By comparison, yesterday there were 216 new 52-Week Highs but 241 new 52-Week Lows. The market today was definitively bearish.
The total volume of shares traded at the NASDAQ today was 9,924,964,325, or 56% more when compared to the volume of 6,343,322,126 shares traded on Friday.
Oil Price: U.S. crude oil was at $70.10 a barrel as at the time of posting this report.
10 –year Treasury Yield: The US 10-year Treasury yield closed at 4.383%, down slightly from Monday’s close at 4.395%.
Market Roundup Report: The Dow Jones index has as of today closed down nine consecutive sessions. That does not happen often. The Feds Chairman’s interest rate announcement after the conclusion of the FOMO meeting tomorrow will surely impact the market, most likely more dramatically after 2pm. The bears were in command at today’s session but the market will always do whatever it wishes to do. We might go straight to the early days of a Santa Claus rally or the bearish mode may persist a few more days. We do not predict the market, we analyze and follow trends and patterns. In the meantime Tesla’s stock continues to “defy gravity”. The stock looks extended but who cares as long as the Trump rally persist even if for Tesla stock only. The Trump rally has surely ended for the general market. Broadcom had an inside day with the stock declining 4%. Perfect behaviour – an orderly pullback after thirty four per cent gain in two session.
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Regular Market Day Features
Beginner Investor’s (Canadian stocks) Watchlist
Blended Growth Stocks Watchlist
EV, Energy and Resource Stocks Watchlist
If you cannot beat them, join them. The Chinese EV manufacturers’ stocks gained today but likely in sympathy with the Tesla stock which has been on a roll since trump victory in early November.
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