News: Yesterday the big three indexes closed in the red. But they failed to tell the whole story. The S&P 500 is less than a 2% decline away from official bear market territory. But the Russell 2000 actually closed in the green. And about 53% of the 8000+ listed stocks closed higher too. Image from …
5/20/22 Americans Are Working, Stocks Point Higher Read More »
News: Markets went back into freefall mode yesterday. The overhead resistance we pointed out ended up being a turning point. The Nasdaq fell 4.7% in what Jim Cramer described as “one of THE WORST days i can recall in years.” The biggest loser was Target (TGT) falling 25% after a big earnings miss. Its biggest …
News: Stocks rallied again yesterday. The Russell 2000 led the way higher with a gain of 3.2%, the Dow gained the least ticking up just 1.3%. Consumer staples was the only sector to finish the red. It was held down by Walmart (WMT) which declined 11% after disappointing earnings and guidance. As Russia’s war in …
5/18/22 Stocks Rally, NATO Grows, & the “Sweet Spot” on the Horizon Read More »
News: Stocks ended Monday mixed. The Dow rose 0.1% while the Nasdaq fell 1.2%. Overall more stocks declined than advanced. But the pause in momentum was met with lower volatility. The leading sector was energy again. The market is pricing in a full reopening of Shanghai. The city reported “three consecutive days with no new …
News: On Friday, the markets bounced up from extremely oversold conditions. The tech-heavy Nasdaq led with a gain of 3.8%. MarketWatch described the mood near the close as “panic-like buying.” The best catalyst came from overseas where China is seeking to lift the lockdown restrictions in Shanghai. The latest report from Reuters points to a …
News: After a wild ride, with intraday swings of +1% to -2%, the top three indexes closed near flat. The Russell 2000 closed up 1.2% and the communications sector, which has been the worst performer for weeks, was the best performer. This is known as “sector rotation” and it’s reason #1. During the swings yesterday …
News: Yesterday was another dismal day on Wall Street. The Nasdaq gave up over 3% again. CPI inflation data came in hot. On average prices are 8.3% higher than this time a year ago. While the headlines talked up the latest data there was nothing new to price in. Inflation is high, the market wasn’t …
News: It was a choppy day on Wall Street as indexes swung from +2% to -2%. The Nasdaq was up 1% at the close while the other indexes traded near flat. The biggest loser award goes to Upstart (UPST) which declines -56% on the day after disappointing earnings and guidance. The stock is down more …
News: The sell-off continued yesterday. The Nasdaq and Russell 2000 declined more than 4% each. Every major index made a new 52-week low. Energy, the last hot industry, was the worst performer, falling about 8% as oil fell but held above $100/barrel. Bitcoin^ reached $30,000. Which is also the 2021 low. I’m watching to see …
News: Last week we welcomed May and the beginning of the worst six months. The Fed upped interest rates by 0.5%, as expected. It also dismissed the possibility of sharper rate hikes in the near future. Jobs numbers we generally positive. New jobs are being created, new unemployment filings are low, and wages are growing …
