Bull Markets Do NOT End Like This
Quick update as I am trying to get a full Street$marts out today or tomorrow. The theme remains the almost same. I thought a modest pullback would materialize and take the major indices below last week’s low. However, as I mentioned on Friday, the bulls put in a strong performance, like the Red Sox did over my Yankees, and took control from the bears on Thursday. That strength continues today with the S&P 400 and NASDAQ 100 leading with the […]
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Date: August 7, 2018
Bulls Cede Control But Lows Not In Yet
So much to discuss, too little space on the blog. I know. I know. I need to do a full Street$marts which I promise to bang out shortly. First, Fed statement day actually worked out okay as the market stayed in a tight range as forecast until 2pm and then rallied modestly into the close. Not a huge winner, but a win is a win and it kept the almost 80% accuracy rate going. Apple is now a trillion dollar […]
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Date: August 3, 2018
Turnaround Tuesday, Apple and Gold
When stocks are in decline, there is an historical trend after a down Monday for stocks to reverse on Tuesday. As the theory goes, sellers hit the market on Thursday, try to rally on Friday which ultimately fails and then spend the weekend reading negative press about the market. On Monday, there is more selling to get the last seller completed. From there, some kind of bounce or real rally begins on Tuesday. While the rationale is a bit shaky, […]
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Date: July 31, 2018
Selling the News
On Friday, I wrote about the strong GDP report and given the market’s rally into the number, I wouldn’t be surprised to see sellers come into stocks but buyers into the bond market. While bonds jumped up at the open, they very slowly eroded some of those gains during the day in a quiet session. Stocks, on the other hand, opened up with some small gains before being swamped by sellers the rest of the morning, perfectly epitomizing “sell the […]
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Date: July 30, 2018
Q2 GDP Surges, But, But, But
Preliminary Q2 GDP came in at +4.1% this morning, right in the middle of my range. While the majority “expected” this accelerating growth, that was only in recent history, meaning everyone ramped up their forecasts lately. As I saw the number print, I thought that there would be no way for the naysayers and negative media folks to spin this against the strength that it is. But yes, they surprised me again with a chorus of “yeah, but”. I heard […]
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Date: July 27, 2018
Bears Have the Ball
For the past week or so, I have shared some minor stock market concerns, but also opined that it looked like the major stock market indices were going to make new highs for July before any downside was forthcoming. On Tuesday, all five major indices scored new highs for July right at the open ad then steadily eroded those gains throughout the day. All except for the Dow Industrials which continues to establish leadership. The S&P 400 and Russell 2000 […]
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Date: July 25, 2018
Bulls Should Push For One More High. Gold Becoming Interesting
About the only thing of significance from Friday’s action was the increase in volume in stocks going down. That’s a new short-term development. And while my short-term model is negative, stocks still do not have the appearance of anything major on the downside. Moreover, I would not be surprised if the bulls gather themselves and assault the highs one more time before a deeper pullback. Banks and transports have been acting more constructively to take some of the burden off […]
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Date: July 23, 2018
Another Good Day for the Bulls
After a number of short-term victories for the bulls over the past week, the Dow Industrials and Dow Transports scored new all-time highs together, triggering a Dow Theory confirmation or buy signal on Wednesday. While the Dow Industrials were the lone major stock market index to see fresh highs so far, I expect the S&P 500 to follow suit shortly. The S&P 400 and Russell 2000 should not be far behind which would add even more credence to my forecast […]
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Date: July 14, 2017
Dow Theory Says to BUY
After staving off early morning selling on Tuesday, the bulls followed through with a nice little day on Wednesday. As I have discussed, the NASDAQ 100 continues to bounce back and resume leadership. That’s an intermediate-term positive, especially if the index does not lead on the downside during the next pullback. While the Dow was the only major index to score an all-time high on Wednesday, the Dow Theory crowd will point to the transports also hitting an all-time high. […]
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Date: July 13, 2017
NASDAQ 100 Right on Schedule. Gold and Energy Opportunity
For the past month or so, I have focused much of my commentary on the NASDAQ 100 as it had been the far and away market leader before getting hit with the ugly stick from late May to early July. Late last week, things began to change and I saw the NASDAQ 100 looking a little better in the short-term. On Friday, the bulls, especially in tech and the NASDAQ 100 did step up with the anticipated bounce beginning. That’s […]
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Date: July 10, 2017
