Tug O’ War Continues
Like a seesaw or maybe a pinball machine, the major stock market indices continue to bounce from the low end of the trading range to the upper end and back. Remember, that for the past month or so, I have written about the short-term looking somewhat murky, but the intermediate and long-term remain solid. Market pullbacks come in two forms. The first is that price declines somewhat sharply and quickly, which shakes out some of the weak handed holders. The […]
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Date: May 6, 2015
Apple’s Good Earnings Impacting Market
Earlier this week, Apple released a very solid earnings report beating analysts estimates on the top and bottom line, meaning the company had more revenue and profits than forecast. On the surface that should be a good thing and intuitively, you would think a boon to the stock. Apple opened at fresh all-time highs on Tuesday only to sell off immediately and close in the lower end of its daily range. Data miners have uncovered a solid trend that […]
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Date: April 30, 2015
Fed Statement Day
Today ends the Fed’s two day meeting with no action taken. Analysts will parse that statement for clues about a possible September rate hike, but as I have said for a long time, the Fed should absolutely not raise rates anytime soon. Oil is tame. Inflation is non-existent. Our economy is mediocre at best. Europe is teetering and Japan is, well, Japan. Raising rates to have some ammunition for the future is the single most absurd argument I can recall. […]
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Date: April 29, 2015
Short-Term Murkiness Continues
While I continue to be intermediate and long-term positive on the stock market, there remains a small cloud over the markets in the short-term. That usually means a pullback, which equals weakness to the tune of 3-7%. Market sentiment has become slightly less bullish, but not to the degree where I believe the next launch to all-time highs can begin. Recent price action shows the S&P 500, S&P 400 and NASDAQ 100 poking to all-time highs and then being rejected […]
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Date: April 28, 2015
Bears Having Their Day
Not even half a day of weakness and talk of the big C is out. The dreaded correction! It’s amazing that after a 73 month secular bull market, it’s still the most hated and disavowed bull ever. Yes, it’s now been 42 months since the last 10% correction, but markets don’t fall just because of age. Corrections occur to repair breaks and right now, there aren’t enough things broken to warrant a full fledged correction. The most glaring concern is […]
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Date: April 17, 2015
Only Sentiment Holding Back Bulls
The markets begin a new week with a huge stream of earnings on tap including Intel, JP Morgan and Goldman Sachs. The European Central Bank is scheduled to meet and there are a number of important economic releases with inflation being front and center. On Friday, it’s April options expiration. The major indices look neutral to positive as the S&P 400 and Russell 2000 are a whisker away from all-time highs while the S&P 500, NASDAQ 100 and Dow are […]
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Date: April 13, 2015
Dow Theory Warnings Continue
Several months ago, I wrote back to back articles about the Dow Theory trend change. You can view them below. http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20141029.pdf http://www.investfortomorrow.com/newsletter/CurrentStreet$marts20141103.pdf Simply put, this analysis holds that the Dow Jones Industrials and Transports should move in lock step to confirm each intermediate-term move in the stock market. When one index see a relative new high, so should the other. The opposite is true at lows. When one index diverges from the other, it is a possible sign of a […]
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Date: April 6, 2015
Q2 Begins Where Q1 Left Off
I hope you all enjoyed April Fool’s Day. I know I definitely did and the emails, calls and texts continue rolling in. Even the media called for an interview about my new gig! 🙂 The first quarter and the month of March rolled in like a bear and both rolled out like a bear, meaning that the bears had the upper hand at least in the short-term. During the middle of the quarter, the bulls were in firm control. The […]
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Date: April 2, 2015
Fox News Here I Come!
I am excited and thrilled to announce that I have signed a deal with Fox News to host my own TV show weekdays from 8 pm to 8:30 pm. As you already know, I have always enjoyed appearing on CNBC, Fox Business and Bloomberg, but the time is right to give this a go on my own, under my terms and my way. Apparently, there is a soon to be announced shake up at the network. The content will be […]
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Date: April 1, 2015
Goldilocks
The stock market continues its Goldilocks behavior of not too hot and not too cold. Two steps up and half or one step back. On Monday, markets were a little too warm early on and that should lead to a little cooling over the coming week or so. It should be just another small pullback in an ongoing uptrend in the context of major bull market. Until proven otherwise, any and all weakness is a buying opportunity. On the sector […]
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Date: March 24, 2015
