FLASH SALE EXTENDED: Now through May 4, we are offering auto-renew monthly memberships at half-off the normal price for the first month (not a free trial, but pretty darned close.) For details and to sign up now, CLICK HERE. * * * Will the 11th time be the charm? SPX and DJIA should test their … continue reading →
While we wait to see if the COMP scenario plays out, we have a new wrinkle to consider. AAPL reported decent enough numbers, but added $100 billion to its already ballooning stock buyback plan. If this sounds familiar, it’s because stock buybacks have become the new go-to method of propping up faltering tech stocks enhancing … continue reading →
The longstanding rumor is that earnings will disappoint. The more recent rumor is that the company will return huge amounts of money to shareholders, in the form of dividends, buybacks, etc — which has kept the stock on the rise all day and into the after-hours. I have no special insight or inside knowledge about … continue reading →
Gold has fallen 4.7% since our last top call [see: Apr 11 Update on Gold], coming close enough (as far as I’m concerned) to our 1300 target to take profits. I’d pull the plug or at least enter stops here at 1367…The most obvious support is at the rising white channel bottom and SMA100, currently … continue reading →
Almost three months ago, we saw most major indices and quite a few stocks backtest their 200-day moving averages. One notable exception was the NASDAQ Composite. COMP came with 1.1%. But, it ran out of time when, as expected, SPX, DJIA, RUT, etc. all bounced off their SMA200s. It had another chance on Apr 2, … continue reading →
Core PCE came in hot this morning, tagging 2% (1.9% core.) Expenditures rose 0.4% MoM, beating income.Needless to say, this falls short of the reality experienced by most Americans, who have seen a 15-20% YoY increase in gasoline prices with the seasonal summer bump still ahead. Will the 10Y take its cues from problematic inflation … continue reading →
In our last update, [see: Update on Bonds – Jan 28, 2018] we noted that 10Y price (121’265) was closing in on the bottom of a shallow, falling channel as yields were approaching what most pundits seemed to consider a line in the sand. We saw things differently. The closest [line in the sand] would … continue reading →
Sometimes, markets can’t seem to get out of their own way. They manage to make modest new highs, but on poor breadth or without breaking through resistance. Like many investors, this sets my spidey senses to tingling. Most of the time, the markets grind higher anyway. But, once in a while, the warning signs were … continue reading →
SPX and ES came within 2 points of their SMA200s on the opening yesterday. They were on their way for another try (the yellow arrow) at 10:30 when EIA’s crude inventory report was released. It was a surprise build, meaning there was more oil sloshing around than folks expected. According to fundamental analysts who pay … continue reading →
Yesterday got us most of the way to our next downside targets. If our monkey bones are to be believed, though, we have a little further to fall before tagging the 200-day moving averages. And, that’s when things could get really interesting. The bulls would like nothing more than a clean and jerk at SPX … continue reading →