There are many trigger point to discuss regarding risk but sometimes the market doesn’t care and it goes higher. We did get some good news with the Q1 GDP revision and recent economic data that points to business investment accelerating which is needed to grow the economy. GDP prints in Europe seem to be picking […]
Stock Market Blog
GDP, Corporate Spending & Policy
The breakdown in stocks on 5/17 was not the beginning of a larger sell-off and now we are back to making new all-time highs in the S&P 500 and NASDAQ. The DOW and Russell 2000 (small caps) have yet to show a turnaround so we may be starting a new upturn but I would like […]
Convergence On Deck
If you have been reading my posts these past few weeks you weren’t surprised by the breakdown in stocks on Wednesday. The technicals have been weak as fewer and fewer stocks have been responsible for pushing the broader indices higher and higher. We had a good snap-back on Friday as Wednesday’s pullback created a very […]
Waiting for Convergence
Let’s review, the Trump stock market rally ended in early March and has continued to behave in a corrective manner that is likely to resolve itself in the next week or two. Earnings season is 90% finished and the results were largely in line with an improved Q2 GDP over a weak Q1 – not […]
French Election Results on Tap
A pretty quiet week in terms of price action as the indices remain in a divergent situation as the small cap index (Russell 2000) is confirming lower prices are coming (see Chart Time!). The French election results will dominate the news cycle on Monday but I don’t expect any surprises so its likely markets shrug […]
To Trend, or Not to Trend…
We had a strong start to this week when stocks gapped higher as the correction that began in early March may have ended. We can confirm the end to the corrective price action once all the major indices align and make new all-time highs together. For now, only the NASDAQ accomplished this task last week […]
Markets Waiting for an “All-Clear”
Stocks continued to be choppy this week but there were signs of a potential bottom as the week ended slightly higher for most U.S. stock indices (more in the Chart Time! section). There are grumblings of another try at healthcare legislation next week but we will have to contend with the budget and a potential […]
Stocks Entering Corrective Territory
The price action this week was very choppy with several false technical signals that indicated prices moving higher and lower. However, the stock indexes provided a clearer signal by closing below the 50 day moving average on Thursday. We haven’t closed below the 50 day since the Presidential election last November. We may have an […]
Stocks Remain Weak as Jobs Report Disappoints
The jobs report was a disappointment this week but it was still a positive report (details below). The stock market continues to be in a corrective pattern that began in early March which marked the end of the Trump rally. Prices have been sluggish this past week and look weak from a technical perspective so […]
Earnings On Tap as Q1 Closes
Equities found a short-term bottom on Monday and ramped higher into the close of Q1 on Friday. Despite this price action, we are still seeing stocks act in a corrective manner (except for the NASDAQ). The last hour of trading on Friday brought in some selling so we may see a lack of follow-through on […]
