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.