Recession, earnings, the Fed, ongoing war, housing concerns, debt ceiling, over-valuation…. The gloom can crush you. Don’t listen to it. Look at the data: S&P 500 price is above the... read more →
The 200-day moving average (ma) is no silver bullet; but as we reflect on price movement over the last few months it does provide us with pieces to the puzzle.... read more →
How historic was the move in equities yesterday? The chart below shows the distribution of returns for the S&P 500 going back to 1962. The S&P 500 gain of 5.54%... read more →
As of Friday, November 4th 83.5% of S&P 500 companies have reported Q3 earnings. How did the quarter go, and what have we learned? Let’s look at a few charts.... read more →
Inter-market relationships have been much more important for stocks than in past years. I have been highlighting in meetings, and most recently in the quarterly investment call, that the US... read more →
When positioning is historically bearish you get reversal days like we saw yesterday. Intraday, the S&P 500 moved from a low of 3491 to a high of 3685 which is... read more →
We talk a lot about breadth because ‘participation’ to the upside is vital for a sustained move higher. We want to see the majority of troops following the general! Additionally,... read more →
It’s a fabulous Tuesday morning. Schools in Maryland have opened, and the weather is starting to moderate. Now, we need inflation to follow! On that front, good news continues to... read more →
Energy outperformance has cooled recently, which was to be expected after an historic run of outperformance from January to June. But this recent pullback was certainly not due to company... read more →
New WebsiteWhat does behind the curve look like? The Federal Reserve is about to tighten monetary policy, i.e., raise rates, while high yield spreads are above their historical mean. They... read more →
