Commentary Summary The S&P 500 recently made a significant breakout above its previous all-time high and has now delivered its 2nd week of positive performance since then. The market is extremely overbought and bulls will have to rely more upon earnings or monetary policy fundamentals to drive it higher as momentum becomes technically unsustainable each […]
Commentary Equities Oh what a difference a month makes and March certainly did as stocks made one of their biggest advances to salvage what almost became a losing quarter. Despite the extreme volatility experienced by investors extending from late December-2015 through mid February-2016, equities, excluding the Russell 2000 (-1.92%) and technology weighted Nasdaq-100 (-2.39%), delivered […]
eMini SP-500 March-2016 Futures: Trading @ 2032.00 (+22.50), stocks are gearing up for a strong opening and continuation of yesterday’s rally. For now, the market has bottomed and in the process of reversing the short-term downtrend. (6:02am PT)
eMini SP-500 Dec-2015 Futures: Currently trading @ 2054.75 (-4.00 net change), equities seemed poised to open lower. The absence of any major economic data releases will do little to help the equities today. The bulls are left on their own today to contend with the bears who currently enjoy sliding oil prices as an ally […]
Discombobulated Markets! Thursday and Friday’s combined sessions were almost akin to a slow motion flash crash minus the gut wrenching downward price spirals. The extreme volatility in the major currency markets was also unprecedented. As previously stated, the reaction to Mario Draghi’s ECB monetary policy announcement was irrational and overdone. However, it took investors a […]
Stock and Bond Bulls Telling Yellen To “Bring It” In spite of the weak ISM Manufacturing November-2015 (actual @ 48.6 vs. consensus @ 50.5 and prior @ 50.1), the market responded with a robust rally. Regarding December’s impending rate hike, it’s almost as if stock market bulls are telling Fed Chairperson Yellen to “bring it”. […]
Another Quiet Day It was another quiet day in the market. There will be no comments this evening. Below is our performance summary and market diary data. The SP-500 closed @ 2081.71 (+3.13 / +0.15%). The Nasdaq-100, weighed down by Apple Inc (AAPL) lagged @ 4641.73 (-13.79 / -0.30%) while the Rusell-2000 held @ 1187.70 (+3.27 / +0.28%).
In Which Do You Believe: Stronger Dollar or Inflation Monster? The most recent US monthly employment report for non-farm payrolls was so strong that it looked like it was on steroids. Will the inflation monster inside of Yellen’s head or living under her bed be treated with an incremental interest rate hike in December? However, let […]
Commentary and Performance This evening’s comments will be extremely brief, if any at all. The SP-500 was resilient once again @ 2099.20 (-0.73 / -0.03%). Finishing the day in positive territory were the the Nasdaq-100 @ 4707.23 (+4.33 / +0.09%) and the Rusell-2000 @ 1199.75 (+9.06 / +0.76%).
Commentary and Performance Technically, it was a negative day for equities. However, given the resiliency displayed by the market, I would consider it a positive trading session. Proximity to key price resistance levels and the less than dovish comments from Fed Chairperson Yellen who issued a sobriety test to the market by confirming the potential […]
Bulls and Bears Stand Down For The Week It was the final week of trading to close out October, which is typically a scary month for investors. However, no blood was shed unless you got caught short in what turned out to be one of the best investment performance months in stock market history. (See […]
Commentary and Performance After digesting yesterday’s FOMC interest rate policy announcement, the market assigned a higher probability to a rate hike in December-2015 or early 2016. Today’s positive economic data may have exceeded any negative news, but the bearish overweight of the GDP and Home Price Index reports were enough to neutralize any bullish considerations. […]
Commentary and Performance Today’s trading was most definitely data dependent and this one was solely dependent upon the Federal Reserve’s latest announcement to leave interest rates unchanged. The SP-500 made a new 1-month high and closed @ 2090.35 (+24.46 / +1.18%). The Nasdaq-100 also hit a new 1-month high and finished @ 4678.58 (+39.35 / +0.85%). Stealing the […]