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 take a look at a market that has continued to consolidate for time, trading sideways. Last week, the market traded to the upper bound of the 5-week range and this past trading…...
US Equity Strategy: Equity Risk Premium, Market Multiple, Zero Rates, Liquidity Boom, Long Duration, Sustainable Income. The sharp ~30% recovery in S&P 500 from the Mar 23 trough, even as earnings expectations and macro outlook were steadily being revised lower by the street, has come as a surprise to many. After the market crossed our…...
I wrote a memo a week for six weeks starting on March 3, but I’ve skipped the last three weeks. First, the string had to end sometime. And second, I try to adhere to the principle that if I don’t have anything additive to say, I don’t write. Hopefully you’ll find this one worth reading.…
For the second trading day in a row, the S&P 500 (SPX) managed to climb above the 61.8 Fibonacci level around 2,935 only to be pushed back down (Chart below). The struggle is real and seemingly found for selling pressure for each attempt at closing above the key retracement level. Almost immediately after gapping higher…
Since the S&P 500 (SPX) “initial low” on March 23rd, there’s been lack of speculating on either the market’s or the economy’s trajectory going forward. As it seems commonplace, the market is inflicting the most amount of pain on where the consensus belief has been, which is wildly inconsistent with where the stock market has…
This past weekend was a non-Research Report weekend for Finom Group. Nonetheless we sent the following notes to our Premium, Contributor and Master Mind Options members so as to set the stage for the trading week ahead. We are now making these notes available to our Basic members and the general public. Upgrade your subscription…
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 take a look at a market that has bounced back after two consecutive weekly declines and on improving market internals/breadth. Over the last 4 weeks, the market has traded sideways, but with…...
Kristin Hooper of Investco One month ago in this blog, I noted that April would be a critical month to gauge the global response to the COVID-19 pandemic. Across the board, it was a massive response, including significant monetary and fiscal stimulus from a variety of economies and widespread lockdowns designed to slow the rate of infection.…
IN THIS ISSUE • Macro Strategy—Alongside a sharp contraction in economic activity, the equity market has already seen a rally from the March bottom, has already recovered close to half of the total peak-to-trough decline. The drivers of the current crisis have been exceptional, but similarities with previous episodes suggest that investors should continue to…...
Another day another roller coaster ride for investors, as much of the daily gains were removed in the final hour of the trading session. So what happened in that final hour of trading? The answer is rather simple: Nobody knows for sure, but everyone is likely and willing to propose they know with offered explanations.…
