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…
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…
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.…
In our daily market dispatch article on Tuesday, Finom Group recognized weakness underneath the hood of the major averages, notably the S&P 500 (SPX) and Nasdaq (NDX). While the major averages once again reached record-level highs intraday, market breadth did not perform in kind. Recall from Tuesday’s article the following: This is something we think…
In all my 22 years of investing and following markets both domestically and abroad, I’ve not come across this many perplexed market participants, and why. Markets have been sending a number of mixed signals since running equities have set record levels in 2020 and while demonstrating extreme sentiment and overbought conditions. The overbought conditions were…
After Monday’s bounce back in the major averages, Tuesday served to turn up the heat on the bears as investors sought to recoup that which had been lost and then some. At it’s peak on Tuesday, the Dow had been up more than 500 points, and when combined with the gains from Monday, surpassed the…
