Defining What We Mean By Liquidity “Liquidity” is a word that is used to mean different things in different contexts. There is accounting liquidity, and market liquidity, and systemic macro liquidity. But they have one thing in common: cash is king. Take a simple example. You want to buy a new car that costs $30k.…
One of the issues with suggesting that the S&P 500 (SPX) over reacted to a growth slowdown in Q4 2018, is that is merely a human assessment, something that has an increasingly insignificant role in the equity markets. The equity markets are increasingly underpinned with programmed algorithms and found with less and less active fund…...
Welcome to our weekly State of the Markets (SOTM) video analysis. Within this week’s episode we discuss all macor-fundamentals surrounding the economy to better understand where the equity markets may be heading in 2019. Please click the following link to review the SOTM and for the sake of streamlining, we have offered a segmented outline…
It was another uneven trading day on Wednesday, but all 3 major averages finished in the green, led by the Nasdaq (NDX), which was higher by nearly .7% on the day. One of the sentiment headwinds for equities may have been removed for the next several months, but the market’s strong YTD performance will still…
Equity markets fell on Tuesday with the S&P 500 (SPX) halting an 8-day winning streak. The Dow Jones Industrial Average (DJIA) led its peer indices to the downside with a 190-point slide and on the heels of Boeing (BA) slashing its FY19 forecast. Additionally, investors revisited global growth fears after the International Monetary Fund (IMF)…
If you haven’t heard by now, the S&P 500 (SPX) is riding an 8-day winning streak, the longest in over a year. The Dow Jones Industrial Average (DJIA) was the lone decliner on the first day of the trading week, weighed down by shares of Boeing (BA) and while the S&P 500 and Nasdaq (NDX)…
Good morning and welcome to another trading week that is expected to be rather subdued, but as we know, on any given trading day… anything can happen. With that being said, here are a few notes to consider from our weekly Research Report. In order to read our very detailed weekly Research Report (12 pages),…
Did anything change during the trading week to reinforce our bullish outlook on both the economy and equity market for 2019? That’s the question we should all be considering, given the S&P 500 (SPX) is only 1.5% off its all-time trading high level. The benchmark index has rallied roughly 23% from its December 2018 lows…...
Welcome to this week’s State of the Markets video discussion centered on the equity markets. Please click the link provided to review the video discussion between Seth Golden and Wayne Nelson where they dive into all things market related. Discussion centered latest geopolitical rift between the U.S. & MexicoThe U.S. and Mexico trade about $1.7…
It’s now or never. At least that was how Nomura’s Charlie McElligott characterized the potential for a market decline last Thursday for clients. Having previously warned about the “pullback window”, McElligott now specifies the timing of the event, noting that “it has to happen now”, as he currently estimate SPX/SPY consolidated Dealer Gamma to turn…
