Pause to Refresh. Transports Looking Juicy
It looks like Monday’s failure by the bulls put in a short-term peak and stocks will either trade sideways for a bit or pullback below Tuesday’s low. There shouldn’t be too much price deterioration. We have some overbought readings in the major indices so if stocks can resist much weakness, that could speak volumes about the next move which should be to new highs. On the key sector front, banks and discretionary are quietly stepping up while semis appear to […]
Read More
Date: May 16, 2018
Nothing Sexy But Still Higher Prices
Since May 3rd, the path of least resistance has been up in the major stock market indices. That is supposed to continue although I will soon be on the lookout for a short-term pause or minor pullback. With the small cap Russell 2000 leading, there has been little to complain about lately, at least for the bulls. While none of the four key sectors are knocking it out of the park, they all look poised to head higher. Energy has […]
Read More
Date: May 13, 2018
Bull Markets Do NOT End This Way
*NOTE: I began this piece as my regular Friday blog post as a follow up to a tweet I sent last night. The more I wrote, the more I wanted to say. That turned into more of an Analysis 101 piece which I am distributing to everyone. It’s also one very important piece in my canaries in the coal mine which I hope to have out next week. One of my favorite long-term indicators scored an all-time high on Thursday, […]
Read More
Date: May 11, 2018
Pretty Good Little Fight
It’s been 24 years since I moved out of New York City to the calm and quiet of CT. I love hearing nature at night in my pitch black bedroom instead of the horns and trucks driving down the avenues. I stayed in the city last night as I had an early conference for our custodian this morning at the NYSE and I wasn’t really interested in getting up at 4:30am to train in. Well, I forgot how loud the […]
Read More
Date: June 23, 2017
Seasonals Say No, But Bulls Say Yes
The major stock market indices closed last week on decent footing and should be poised for further gains with the Dow and S&P 500 seeing new highs first . Even the recently hit NASDAQ 100 hung in and remains above the line in the sand I drew last week. However, this week is a seasonally weak one as it’s the five days immediately following June option expiration. We’ll see how that plays out as pre-market indications show a higher open. […]
Read More
Date: June 19, 2017
Bulls Still in Charge (as is Amazon!)
The major stock market indices put in a very constructive day on Thursday with stocks opening at their lows for the day and closing in the upper end of the range. The beaten down NASDAQ 100 saw the best behavior as it tries to repair itself from two unexpectedly large and volatile down days over the past month from all-time highs. One clue will be a weekly closing price for this index and the semiconductors near the high for the […]
Read More
Date: June 16, 2017
Another Tech Wreck
Between the ECB, UK and Comey, there was lots of news to digest. However, stocks really didn’t seem to care. The ECB did nothing and hinted that the European economy was improving. Comey testified and you couldn’t turn left or right without hearing “expert” commentary from the pundits. As expected, it was much ado about nothing. The big shocker came from the UK where PM Theresa May underestimated her constituency when she called for a general election. Hoping to strengthen […]
Read More
Date: June 9, 2017
What Else is New? The Bears are Wrong!
Two whole days of consolidation. In modern terms, that sounds like a correction! Of course, I am kidding as pullbacks have been few and far between lately, not to mention shallow and brief. The Dow and the S&P 500 are digesting in textbook fashion with the S&P 400 and Russell 2000 still not behaving the way I would like. The former is starting to show very early signs of leading, but we have been down this road before. The NASDAQ […]
Read More
Date: June 7, 2017
Mixed Messages to Start the New Week
A new week, more of the same geopolitical news. Terrorist attacks in London. Trump tweeting. Economic mixed messages. Fed to raise rates. Stocks see more new highs. Friday’s market behavior was fine with the Dow, S&P 500 and NASDAQ 100 all adding to their recent new high run, however the S&P 400 and Russell 2000 seemed to run out of gas after lunch. Participation and leadership were solid. Friday’s employment report was also a mixed bag with the economy creating […]
Read More
Date: June 5, 2017
Love or Hate It, Markets Don’t Care about Trump
On Thursday, the Dow and S&P 500 broke to fresh all-time highs to join the NASDAQ 100. The major index trading range since early March appears to be ending in favor of the bulls. I say “appears” because although breakouts are beginning to occur, every now and then they are fake (like news) and immediately reverse and head in the opposite direction. Only the S&P 400 and Russell 2000 are lagging, but I would think they should both follow suit […]
Read More
Date: June 2, 2017
