On Friday October 24 the S&P broke above the massive candle that had contained it for two weeks from Friday October 10. That’s a breakout and it puts the bulls back in charge. However, the market remains very thin and…
I have been going back and forth over the last week or two: Bear Market Rally or Correction In An Ongoing Bull Market? In the wake of the strong bullish reaction to Google’s (GOOG/GOOGL) 1Q25 earnings report on Thursday April…
It’s been quite a rally the last few weeks as Trump has walked back the outrageous tariffs he announced on Liberation Day and 4 of The Magnificent 7 have reported solid earnings over the last week. 5,500 represents a significant…
Bull markets are born on pessimism, grown on skepticism, mature on optimism and die on euphoria – John Templeton The election of Donald Trump last November was at first met with euphoria by investors. Tax cuts, streamlined regulation, improved government…
The narrative over the last few weeks has been that the defeat of inflation will allow The Fed to cut rates in September has resulted in a rotation out of Mega-Cap Tech (QQQ) and into Small Caps (IWM) which will…
McDonald’s (MCD) reported earnings early Monday morning and the results suggest the economy is rolling over into recession. Comps have been decelerating for a year now and went negative in 2Q24. US Comps were -0.7% compared to +10.3% a year…
Tuesday was another typical day: QQQ: +0.69% S&P: +0.27% S&P Equal Weight (RSP): -0.41% Small Caps (IWM): -0.34% While the bulls won the day at the index level, beneath the surface most stocks are going down. On the NYSE and…
While the S&P is near all time highs it might surprise you to know that the bearish case has rarely been stronger during my almost 20-year career in the business. In this blog I’m going to lay out a bunch…
The bear market rally which began on October 13, 2022 with an intraday low of 3,492 topped on March 28, 2024 with an intrday high of 5,265. From top to bottom the S&P rallied about 50%. It has been well…
Early Saturday morning – even before Iran fired missiles at Israel – I wrote that the bear market was on the cusp of being resumed. In fact, I literally guaranteed it at the end of the accompanying YouTube video I…