Hello! Here’s what’s happening in the market today… News: It was another day of selling yesterday as the S&P 500, the Nasdaq, and the Russell 2000 sank well below previously establish support levels. Despite the positive earnings report from BAC. You can see the breakdown in this long-term SPY chart plain as day. The Nasdaq …
Hello! Here’s what’s happening in the market today… News: Tuesday was an epic day on Wall Street. Everything fell and there wasn’t a buyer in sight. Banks are reporting declining profits. And oil prices are at 8-year highs. But I’m still not seeing the bears I’d expect to see. Let’s go to the technicals… Technicals: …
Hello! Here’s what’s happening in the market today… News: Earnings season is here. Banks will take the lead with GS, BAC, and MS reporting today and tomorrow. Later in the week AA and NFLX will give us some insights into travel and tech. Inflation concerns remain the lead problem for the markets. The 10-year bond …
1/18/22 Earnings Season Arrives, Markets Fall Below Support Read More »
Hello! Here’s what’s happening in the market today… News: PPI, another inflation reading, confirmed what we already knew … inflation is high. But month-over-month levels are stable. Could be we’ve reached the peak. I’ll be watching for these levels to stay in check for a couple of months. In COVID news the Supreme Court blocked …
Hello! Here’s what’s happening in the market today… News: Year-over-year inflation hit a decades-high level of 7%. But we already knew inflation was high. The big number was a headline but not unexpected. Month-over-month the consumer price index (CPI) rose by just 0.5%. That number is rather low. And certainly at least what the market …
1/13/22 How Record-High Inflation Caused the Market to Climb Read More »
Hello! Here’s what’s happening in the market today… News: The omicron variant is driving record levels of case numbers and now hospitalizations. But the market continued to rally. This tells me it has future expectations. The market is always forward-looking. The market is asking, “What’s going to happen next?” From everything I can see right …
Hello! Here’s what’s happening in the market today… News: The bears, pundits, and naysayers are calling for a crash. Yesterday the market opened red … and plummeted. I was traveling and not able to watch the whole saga play out. But when I stopped for lunch the pattern was clear to me. Support was holding. …
Hello! Here’s what’s happening in the market today… News: January’s first five days of trading ended in the red. Historically just 56% of years that begin with a red week end in the green. So it’s a coinflip at best… The market did give us a bullish signal with the “Santa Rally.” But when dealing …
Hello! Here’s what’s happening in the market today… News: The December jobs report comes out at 8:30 a.m. Eastern. Initiations are unemployment is low and jobs are rising. The most notable market movers this morning are the meme stocks… GameStop Corp. (GME), AMC Entertainment Holdings, Inc. (AMC), and Digital World Acquisition Corp. (DWAC) are all …
1/7/22 Heed This Warning … What the First Five Days of the Year Tell Us Read More »
Hello! Here’s what’s happening in the market today… News: When the Fed speaks the market tends to rally. But when the market reads what the Fed has written it doesn’t always come out as well. Yesterday the FOMC released its minutes from December. In those notes, the central bank initiated it may be ready to …
