Take a close looks at the eighteen red dots in the chart above by Jason Goepfert of Sentimentrader: 1987, 1990, 1998, 2008-2009, 2018-2019, 2020. Breadth readings this bad – this many stocks hitting 52-week lows on the NYSE and NASDAQ…
An interesting meme has taken hold of the crowd mind that is financial markets in recent weeks: The Peak Inflation Narrative. It started when Powell signaled a 50 basis point hike on Thursday April 21 and has gained momentum since….
Make no mistake: We’re in a nasty bear market and stocks are going much lower. But the market has overshot on Fed hawkishness. As you can see in the tweet above by Jim Bianco, the market is expecting 225 basis…
The combination of an oversold market and good enough Facebook (FB) earnings may result in a squeeze higher Thursday. If we start to see a trend day higher, investors may pile in and shorts who have overstayed their welcome will…
Facebook (FB) just reported mediocre 1Q22 earnings – but with the stock as oversold as it is that’s good enough. Daily Active Users (DAUs) were up 30 million to 1.96 billion from 1.93 billion at the end of 2021. Revenue…
The market has been thrashed in the four days since Powell essentially assured a 50 basis point hike next Wednesday. The NASDAQ is down 8% over that time span (-20% YTD) and closed Tuesday at a 52-week low. The dollar…
With the NASDAQ and QQQ testing YTD lows Tuesday morning at 12,600 and $320 respectively I think the first 50 basis point Fed rate hike has now been priced in. This applies to the precious metals miners and commodity stocks…
The market started pricing in an extremely hawkish Fed after comments by Fed Chair Powell last Thursday in a panel discussion with ECB President Christine Lagarde. The NASDAQ was down big both Thursday and Friday and commodity and precious metals…
Ahead of the important March CPI this morning it seems like a good time to take a look at the road ahead for the next bunch of weeks. The first thing is that the rally off the March 14 lows…
When I wrote “Fade The Rally” two weeks ago it was not a popular view. Technicians were wondering if a major bottom had been put in place. Two big down days in the NASDAQ later and they are starting to…