Stocks A Bit Tired But Don’t Get Fooled Too Early
The stock market has certainly transitioned to what was a powerful rally into a narrow trading range. That’s nothing new. Since mid-April the major stock market indices have basically gone nowhere. That’s not bad thing as they digest massive gains since early March. Tuesday was interesting day in the very short-term as stocks began to look a little tired. I don’t think it’s that big of a deal. I would look to become more positive on a 1-3 day mild […]
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Date: May 26, 2021
Tech Back, Market Rangebound
Greetings from 38,000 feet where my wife and I are returning from a long weekend in CA for a wedding and some work. While the weather was cooler than normal, we still had golden sunshine every day and the sun got the best of me even though I wore sunblock 50. It was good to get away, but I always look forward to going home to my kids, my pets and my bed. The markets look to be picking up […]
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Date: May 24, 2021
They Don’t Make It Easy
The NASDAQ 100 came roaring back to life on Thursday. If you follow me on Twitter you saw that I tweeted about starting to see embryonic signs of this developing in real time on Wednesday. We started wading back into tech at that point, but I do not sense this is a multi-month opportunity just yet. In the short-term I can say that stocks revisited their low points from a week ago and they are trying to build a a […]
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Date: May 21, 2021
Is This The Big One? I am Coming Elizabeth!
When I left off, I opined that the pullback could be over and new highs would be up next. The only thing that bothered me was how stocks closed last Wednesday which would have been the low. After a few days of rally, the bears came back to work on Tuesday and Wednesday morning looks to be weak, at least early on. Ideally, I would like to see last Wednesday’s low prices exceeded and then have the bulls step up. […]
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Date: May 19, 2021
Pullback Over – All Time Highs Up Next
Sorry I missed the Wednesday update folks. It has been crazy busy with client updates, onboarding new clients and speeding to watch the kids’ baseball and softball after market close. Oh yeah. And the markets have been giving us so many opportunities of late. I am also about to start my travels again, so I apologize in advance for what may be an irregular publishing schedule for some time. As most of you know, however, I spend all my time […]
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Date: May 14, 2021
Calendar Quiets – NASDAQ 100 Still Under Pressure
Last week at this time, the market was enjoying one the strongest seasonal days of the year in the first day of May. The ensuing four days of mild weakness looked good until Thursday and Friday when the bulls decided they had enough. The new week begins with some very, very mild seasonal weakness on the calendar. Nothing that will weigh too heavily. After that the seasonal trends are quiet. Looking at the major indices, we have the Dow Industrials […]
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Date: May 10, 2021
Mild Pullback Continues
The first trading day of May lived up to its billing as an up day. Additionally, the subsequent week is following history as a patch of seasonal weakness. It’s nice when the market follows history so well. For the past week, I have written several times about the stock market being tired and overdue for a pullback. That mild bout of weakness is here, but its magnitude depends on which index you view. The Dow Industrials have been the strongest […]
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Date: May 6, 2021
LOTS of Seasonal Factors of Today & Month
Today is the first trading day of May. I wish someone told Mother Nature that as I had on long underwear and two fleece layers at my son’s baseball games on Saturday. Yet on Sunday, I had shorts and a tee shirt on as we did yard work all afternoon. Spring in New England. Stocks did not close April well, but they still finished sharply higher for the month. April was definitely a fun month all around with tech leading […]
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Date: May 3, 2021
Stop Touting the News
I can’t keep track of how many times I have said, it’s not what the news is, but rather, how stocks react. If there is one adage that has served me incredibly well in my 32 years in the business, it’s that one. Yet people continue to do the “but, but, but”. The market is usually right. Those who make it a methodology to fight it often end up in failure. There has been a dizzying number of Q1 earnings […]
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Date: April 30, 2021
Fed Day is Here and I am Not Celebrating
It’s Fed day and these meetings should all take on some significance going forward as Powell et al should begin to hint at less accommodation. However, the Fed learned their lesson in 2013 with the Taper Tantrum and will make sure the runway is long and clear. Although I have so been enjoying the fruits of their labor since last April and I assume clients and investors have as well, if I sat in Jay Powell’s seat, I would already […]
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Date: April 28, 2021
