Economic: 3.28 million initial jobless claims
A record high in initial jobless claims was expected but the number was worse than most expected.
Read MoreFinally, a two-day rally
For the first time since mid-February, the S&P 500 Index (SPX) managed back-to-back gains. News that the Senate had come to an agreement on a $2 trillion-dollar stimulus package in…
Read MoreGotta take a break, but you are in excellent hands
Good morning everyone. Just a quick note that while I will obviously be checking the market, my Dad passed peacefully last night (not Covid-19 related). I think you all know…
Read MoreBearish newsletter sentiment jumps above bullish sentiment
Bearish sentiment finally rises above bullish sentiment for the first time since January 2019.
Read MoreExcellent breadth readings
The big gains in the market today are accompanied by very strong market breadth readings. As of 11:30am, S&P 500 Index is up 6.9% and the NYSE advance/ decline ratio…
Read MoreFinally looks like some market relief
The S&P 500 (SPX) Futures are up nearly 5% this morning as we wait for the Senate to offer an agreement on their Fiscal Package. We are hoping the fiscal…
Read MoreStocks decline as investors await a stimulus package
Going into the opening bell this morning, it looked like we might have a positive open with futures trading higher after the Fed announced a massive expansion of its credit…
Read MoreExplaining our “playbook” for newer subscribers
For the benefit of new subscribers, I would like to highlight our market crash playbook that we often refer to. History has shown that once the market is in a crash,…
Read MoreMonday tactical indicators update
The record drop in equities has moved all four of favorite tactical indicators to levels that suggest the market is in deeply oversold territory. Given the unprecedented nature of the…
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