Bulls Look to Maul Bears as Semis Remain Strong
At the end of last week I wrote about the bulls’ inability to sustain a breakout above the recent range as prices briefly popped above the highs but reversed to close lower. Given my continued bullish outlook, I wasn’t worried and I am still not concerned. This morning, pre-market indications look for the bulls to attempt a full-fledged assault higher and break through the month long trading range as you can see below using the S&P 500 futures. For more […]
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Date: September 5, 2019
Decisive Breakout in Stocks but Bitcoin…
First, it seems like all of the talk lately and this week is about Bitcoin and the crypto sector. Do you care? Regardless,, will you take 10 seconds to answer three short questions? TAKE SURVEY With post-Thanksgiving being slightly seasonally weak, Tuesday’s action was a pleasant surprise for the bulls. Yesterday, I mentioned that while there were a number of very short-term crosscurrents, the intermediate-term remained positive. Four of the five major indices saw decisive and significant breakouts to new […]
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Date: November 29, 2017
Another Seasonally Strong Day but Europe Should Not be Ignored
I hope everyone had a great Thanksgiving with lots of good food, family and friends. As I wore the hypocrite hat this year, we celebrated ours on Wednesday night so my daughter and I could fly to Oregon on Thursday to watch the UCONN men and women play in the PK80 basketball tournament in honor of Phil Knight’s (Nike founder) 80th birthday. The men played such a great game to beat Oregon last night, something I definitely did not expect. […]
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Date: November 24, 2017
Long & Strong for the Bulls. Happy Thanksgiving!
The bulls were long and strong on Tuesday with all five major stock market indices hitting all-time highs. You just cannot argue with price momentum. Semis, discretionary and banks were strong while the banks were just okay. We saw very good participation when looking at the NYSE A/D Line. High yield bonds were up but they could not add to their first half hour gains. Commodities, led by oil, just finished a little pullback and seem poised for a run […]
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Date: November 22, 2017
Bulls Stampede Ahead. The Hatred and Disavowing Continues
It looks like the bulls are getting a jump on the very strong seasonal tailwind that exists the day before Thanksgiving. All of the major indices look to open strongly to the upside with all-time highs across the board possible by the time we dig into the turkey. On the sector side, semis continue their relentless rally with consumer discretionary really kicking it into high gear. Banks are climbing nicely and transports look poised for perhaps the most upside in […]
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Date: November 21, 2017
Pullback in Motion. Dow by Itself.
The Dow has now seen three straight days of negative behavior but the index remains a whisker from new highs. The big picture reveals some almost precedent setting behavior in the Dow as more stocks are closing lower than higher as the Dow was hitting all-time highs. That’s not your typical sign of strength. The S&P 500 and S&P 400 are a little weaker with the Russell 2000 and NASDAQ 100 a little more so. The pullback I have been […]
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Date: October 26, 2017
Stocks Continue to Creep But Best Opp for Pullback is Now
It’s really the same old story as we begin the new week and the final full week of October. The intermediate and long-term continue to look strong as they have for days, weeks, months and quarters. Nothing has changed. The short-term is the time frame where it’s neutral at best. I have said all month that the bulls need a little rest, but they haven’t seemed to care. Today, as I look at the five major stock market indices, the […]
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Date: October 23, 2017
Bulls Running Like Pamplona
This is looking more and more the running of the bulls in Pamplona. They just stampede anyone and everyone in their way. After the two strongly positive seasonal trends ended after the first week of October, there was sufficient evidence that stocks were due for a pause to refresh or modest, single digit pullback. That’s what I was looking for. Nothing big. Nothing significant. Nothing really actionable. Just your garden variety reset. Stocks came out of the gate to the […]
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Date: October 20, 2017
Banks Selling the News. Transport Close By
Earnings season is now in full swing which means that every morning. pre-market, you will find a slew of companies reporting as well as offering guidance or forecasts about the future. That creates a much higher level of single stock and sometimes single sector overnight risk. Right now, the major banks are reporting, after experiencing a near vertical ascent into Q3 quarter end. The last time I wrote a specific article about the banking sector, it had just touched a […]
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Date: October 13, 2017
3 Reasons Stocks Will Peak Right Now
Good Monday Morning! Huge weekend if you are a sports fan although the decision making of my Yankees’ and Cowboys’ manager and coach likely just ended their seasons. At that level, the margin for blunders is razor thin and both Girardi (4 stupid decisions in 40 min) and Garrett (one giant brain freeze) cost their teams. While I have never been in their shoes, it’s the same thing I face each and every market day. Over the past 29 years, […]
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Date: October 9, 2017
