Credit Stress Indicator update
In it still looks like a policy driven market event, we highlighted the various credit metrics we follow that suggest the recent approximately 20% drop in the S&P 500 Index…
Read MoreUnexpected drop in pending home sales
While the data on new home sales continues to be delayed due to the partial government shut down, this morning we did get data on pending home sales from The…
Read MoreAnother extreme in the TICK Index
In October, we highlighted a somewhat rare reading in the TICK Index, when the index hit +1400 and -1400 in the same trading session.
Read MoreConsumer Confidence retrenching from recent cycle high
The final look at consumer sentiment for 2018 was released this morning from the Conference Board and showed confidence is beginning to decline from cycle highs set just two months…
Read MoreOver half of retail investors are now bearish on the market
Not surprisingly, the Association of Individual Investors (AAII) reported an increase in bearish sentiment among individual investors in the latest poll.
Read MoreHome prices rise in October, matching estimate
The Federal Housing Finance Agency (FHFA) House Price Index rose by 0.3% in October, matching the consensus estimate. This was slightly better than the 0.2% in September. The chart shows…
Read MoreThe Day Ahead, Thursday December 27
Following a Wednesday that saw all three major markets close up over 4% on what we dubbed a “reflex rally” (read more about the reflex rally by clicking the link…
Read MoreStill looks like policy-driven market event
Human nature is very consistent – pain is the ultimate motivator for change, and a 20% market swoon in under three months has most tactical and historical indicators suggesting extreme…
Read MoreBrief thought as stocks continue lower
Pain is the best motivator for most people to change, but somehow this administration hasn't learned that tweeting keeps creating more pain. There is a total lack of confidence in…
Read MoreExtremes and expectations
The S&P 500 (SPX) dropped by 7% last week and broke through the bottom from late October through early December. That means the whole intermediate-term bottoming process will need to…
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