Leading up to the Friday trading session, the markets appeared to be expressing exhaustion and have been with overbought conditions for the better part of the last 10 trading sessions. Nonetheless, the YTD rally carried forward on Friday. (Table from Bespoke Investment Group) From Monday through Thursday, the S&P 500 (SPX) and its peer indices…
Thursday’s market activity was more troubling than what the daily chart assumes and when we broaden it out for the full year. While the October daily closing low proved, once again, to provide a floor for the S&P 500, these chart patterns tend to resolve unfavorably over the long run. What we’ve seen since the…
It didn’t seem to affect the markets all that much yesterday, but it is certainly getting all the attention in the last 12 hours or so. Tuesday morning on CNBC, Jim Cramer discussed conversations that he was having with corporate CEO’s about the probability of slowing earnings growth. “There are many parts of the economy…
