The breakout investors have all been waiting for has occurred with a new record high on the S&P 500 (SPX) and Nasdaq (NDX). The S&P 500 new high now resides at 3,044 or roughly 16 points about the former high. With Monday’s .56% move in the benchmark index and new closing high of 3,039, the…
Coming into the trading week that was, the S&P 500 (SPX) completed two up weeks in a row, and began the trading week with a surge above 3,000. This was an ideal set-up for the remainder of the trading week and one that was absent any anticipated geopolitical turbulence. Investors would be considering, for the…...
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. In this week’s episode we discuss October markets and nearly touching the former S&P 500 all-time high on Friday. Our dialogue this week aims to rationalize the numerous headlines while recognizing the impact on financial markets.…
Chop, chop, chop…, no better way to describe the last 2 trading days on Wall street as the S&P 500 (SPX) finds itself with sputtering above the 3,000-level and during the peak of earnings season. Nonetheless, when we compare Wednesday’s SPX chart with that of the previous session, the market is still favoring the bulls.…
Doing well, doing well, doing well, doing well… and then…It’s all fun and games until the flows stop flowing and the earnings start missing estimates. It proved quite the choppy day on Wall Street as the S&P initially climbed and held onto gains for much of the trading session, but then… The S&P 500 (SPX)…
The trading week has started more positively than the last and with small caps bridging the lagging gap between large caps, as the Russell 2000 (RUT) proved the outperformer on Monday. The S&P 500 gained almost .7% or 20 points on Monday, now more than halfway toward completing the $3/point weekly expected move. Other than…
Entering the trading week, we were of the opinion that the rally in the major averages from the previous week would find a continuation of that rally. In looking at market breadth/internals as well as what was expected to be a favorable financial sector reporting season, we offered the following in last week’s Research Report:…...
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. In this week’s episode we discuss October markets. Our dialogue this week aims to rationalize the numerous headlines while recognizing the impact on financial markets. We focus on a recent report from Morgan Stanley that…
The S&P 500 (SPX) is only about 1.5% away from its all-time high, so everyone must be a winner right? Not exactly! If we look at the historic performance record and positioning in the market, cash levels remain extremely high and equity market leverage. Here is what the quant team at J.P. Morgan had to…
Did you see that coming? It was quite the rally on Wall Street Tuesday, the first trading day after the Columbus Day holiday. With the bond market back up and running and no deflating U.S./China trade headlines, the S&P 500 (SPX) rallied sharply. The benchmark index finished a cool 1% higher on the day with…
