It’s not for a lack of effort, but the S&P 500 has only been up on 1 of the 9 FOMC days during Powell’s rein over the Committee. Initially, and traditionally some might say, the market responded positively to the sharply dovish move announced by the FOMC on Wednesday…then it completely reversed course and the…
It’s that time again, FOMC rate hike announcement day. While there is almost no probability of a rate hike today, the more consequential press conference and dot plot will likely sway investors’ sentiment. With Jerome Powell at the helm of the FOMC and having chaired the committee of Federal Reserve Presidents over the last 8…
Are equities about to fall from grace after a seemingly prolonged rally? If you ask two prominent analysts, they seem to believe “the end is near”. The S&P 500 has extended its New Year rally into the current week and after breaking through and closing above a key resistance level last Friday. The feat of…
There are two more trading weeks remaining in the Q1 2019 period. The S&P 500 (SPX) is up some 12.5% already this year and has managed to express this rally with net outflows and with outsized participation to the most defensive sectors. Seriously folks, the Utilities Select Sector Spiders (XLU) hit an all-time high last…...
Welcome to this weeks rendition of State of the Markets with Wayne and Seth. Please click the link to review the video, which is one hour in duration. Outline Introduction to SOTM with conversation on market volatility. Front month contango of 10%+. Greater focus should be on back month/m2 given VIX Futures expiration and roll…
Past the midway point in the trading week and the major averages have bounced back from consistent selling in the previous week and what many thought may prove a period of continued market consolidation and/or retrenching. Even with Boeing (BA), the most heavily price-weighted stock on the Dow Jones Industrial Average (DOW), proving a major…
Some things never change. That’s why they call them permabears! Jeffrey Gundlach was available and ready to declare, yet again, his bear market call and characterization of the market. It’s an annual ritual for Gundlach, the CEO of Double Line Capital. “The stock market was and still is in a bear market. Stocks could…
After 5 consecutive days of declining markets, the major averages fought back with the strongest breadth since January 4th. The Nasdaq (NDX) led the indices with a 2% rally and the S&P 500 (SPX) followed with a rally of nearly 1.5 percent. The Dow Jones Industrial Average (DJIA) lagged its peers with a .79% rally,…
The S&P 500 finished lower for 5 consecutive days and after achieving resistance around the 2,800 level. This is the 6th, 5-day losing streak for the S&P 500 since the US election in Nov ’16.This is also the first one that didn’t have a single 1% drop on any of the 5 days during the…
Coming into the trading week, most every index and index ETF was expressing overbought conditions. With all the major indices falling greater than 2% to complete the trading week, indices and index ETFs have now worked off some of their overbought conditions. (Table from Bespoke Investment Group) You’ll notice within the table that all index…...
