Starting to get that “whooshy” feeling
Equity indices are all trading near session lows, with the S&P 500 Index (SPX) off 40 points (-1.4%) and down for the fifth consecutive trading session. Selling pressure has really…
Read MoreRecent volatility brings less bullishness and more calling for a correction
The report out today from Investors Intelligence showed bullish newsletter writer sentiment moved lower for the first time in four weeks.
Read MoreToo early to say correction is over
A positive fundamental backdrop can be interrupted with the temporary periods of corrections, and we are partially through one now. We have been expecting further near-term volatility until our four…
Read MoreTechnology stocks are dragging the markets lower for the second week
The NASDAQ 100 Index (NDX), which is made up of the largest 100 non-financial companies listed on the NASDAQ is down 1.2% today.
Read MoreThe Economic Week Ahead, October 8th
The bond market is closed today for the Columbus Day holiday, so we should have a relatively quiet trading session for equities. This week’s data focuses on inflation and confidence,…
Read MoreRussell 2000 testing 200-dma
The 26-point drop in the Russell 2000 Index (RTY) today, has pushed the index price down to the 200-day moving average for the first time since April 2nd.
Read MoreThe Day Ahead, Friday October 5th
Wrapping up our week of high volatility and a market pullback, Friday features the release of the September Employment Report, which is due out at 8:30 A.M. EDT.
Read MoreS&P 500 broke short-term trendline but confluence of support levels suggest limited downside
The daily S&P 500 (SPX) chart shows the index broke short-term trendline support today but we see multiple support levels that suggest near-term downside could be limited.
Read MoreThe Day Ahead, Thursday October 4th
On Thursday, the markets will look to continue their strong week with the release of a couple more key economic data points. Yesterday, the labor markets remained hot with the…
Read MoreHump Day “Brain Cramp”
I would be careful about reading too much into the rise to 3.16% of the 10-year U.S. Treasury Yields today. While many wonder if the “market is telling us something,”…
Read More