Twas another rough day on Wall Street as U.S. indices fell by another 3%+ and as coronavirus fears spread. In the early morning hours, futures were pointed to a higher open for the day and Finom Group urged traders not to trust the early indications, as we’ve seen this movie play out many times before…
Monday was one of those days that test the resolve of many traders/investors. The major averages fell by roughly 3.5% or worse, with the S&P 500 (SPX) tumbling some 3.35% on the day and accelerating losses into the closing bell. Many narratives and headlines produced during the trading day highlighted market losses due to the…
This article first appeared at The Wall Street Journal ByChuin-Wei Yap and Jon EmontUpdated Feb. 23, 2020 12:22 pm ET HONG KONG—The last time a coronavirus outbreak hit China in 2003, the global economy emerged relatively unscathed. Now, nearly two decades later, the growth-damping effects of a similar pathogen threaten to ripple around a world transformed by…
This article originally appeared in the Wall Street Journal: By Betsy McKay: Updated Feb. 22, 2020 10:06 am ET Concern is high about a dangerous new coronavirus behind an epidemic in China and illnesses in 26 other countries. The number of people sick with or dying of a viral pneumonia caused by the virus is…
If you were asked to do nothing as an investor for the week to come, could you do it? Sometimes the simplest and most appropriate measure to take is the most difficult for investors and traders alike. We think this is an appropriate manner in which to contextualize markets near-term and with respect to growing…...
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. We suggest the bull market will carry forward, but not higher, in a straight line and not without intermittent pullbacks. The current bullish trend is found with overbought conditions and sector extreme valuation concerns, mainly centered on…...
Two days after Apple (AAPL) warned on Q2 2020 revenues, the markets seem to have dismissed even this sizable warning and replaced fears of an earnings recession with record highs. The Nasdaq (NDX) and S&P 500 (SPX) both hit record highs once again yesterday as tech was bought up once again and AAPL shares rebounded…
It wasn’t quite the landslide for equities on Tuesday one might have assumed after Monday’s pivotal announcement from a key handset provider warned on revenues. And that handset provider was of course… Apple said Monday that it does not expect to meet its quarterly revenue forecast because of lower iPhone supply globally and lower Chinese demand…
Since displacing the gains from January, which we believe is the best term to use, the S&P 500 (SPX) has more than recaptured those gains by closing out the 2nd trading week in February at record-level highs. If it seems as though we continue to use the phrase record-level highs quite often, that’s likely because…...
Welcome to this week’s State of the Markets with Wayne Nelson and Seth Golden. Please click the following link to review the SOTM video. Two weeks ago we believed a corrective period would commence due to overbought conditions that were paired with breadth and sentiment extremes. Since then a 3% distribution phase was achieved, but quickly found with new record highs.…
