The market weight S&P 500 closed just below its 200 DMA Monday as we head into the heart of 3Q23 earnings season with Google (GOOG/GOOGL), Microsoft (MSFT), Facebook (META) and Amazon (AMZN) all reporting earnings this week. As Karen Langley…
Google (GOOG/GOOGL) and Microsoft (MSFT) were the first of The Big 5 to report 2Q22 earnings Tuesday afternoon – and their reports can best be characterized as mediocre. Let’s start with GOOG/GOOGL. Core Advertising Revenues grew only 12% – compared…
The market is bifurcated into the mega cap tech stocks that have held up well so far – and thus propped up the indexes – and the smaller but still important stocks that have already suffered brutal bear markets. My…
Fed Chair Jay Powell finds himself in a bit of a bind ahead of Wednesday’s Fed Decision and press conference. On the one hand, he faces a crashing stock market; on the other, raging inflation. The tone he strikes in…
The NASDAQ appears to me to be in serious technical trouble. For a while now, I’ve been writing about the “stealth bear market”. That is, important but not leading stocks have been breaking down beneath the surface without doing much…
On Thursday, the bears got to the generals, breaking many of them down below key support levels. The QQQ closed below the crucial $380 for the first time since late October 2021. Microsoft (MSFT) – the 2nd largest stock in…
On Monday March 23, 2020 before the market opened – in the midst of the COVID panic – Chairman Powell essentially told financial markets that he would do whatever it took to support financial markets: The Federal Reserve will continue…
The stock market had a big day Monday recouping most of its losses from Friday. The S&P was +1.32% and the NASDAQ +1.88%. However, a look beneath the hood shows the same problem I’ve been harping on for at least…
I got it wrong. Early Friday morning I asked “Is the bull market over?” and answered that – while no certainty was possible on such a question – I believed that in the wake of the negative reception to Apple…
While Wednesday might have seemed like just an ordinary day with the S&P -0.51% and the NASDAQ flat, it was anything but. While the indexes were seemingly placid, beneath the surface most stocks got hit. Strong earnings from Microsoft (MSFT)…