As we enter the holiday season into year end there will be less data to move markets and seasonality historically plays a significant role. Next week the NYSE and NASDAQ are closed for Thanksgiving on Thursday November 24 and there…
Chip maker Micron (MU) reported a bad quarter after the close Thursday. While numbers for the quarter ended June 2 were fine, MU’s guidance was quite weak. MU guided revenue to $7.2 billion plus or minus $400 million. The comparable…
Stocks had a furious rally the last three days of the holiday shortened week. On Thursday, the S&P was +0.62% to 4,726 (a new all time high), the NASDAQ was +0.85% and the Russell +0.89%. I don’t want to be…
Stocks were mostly under pressure again Friday with the S&P -1.03%, NASDAQ -0.07% and Russell +1.00%. QQQ lost its 50 DMA but I expect $380 to hold through year end. NYSE + NASDAQ Advancers to Decliners were 3,902 to 4,108…
The expectation heading into Wednesday’s Fed Decision is that the Fed will double the pace of its taper to $30 billion/month. That much has probably been priced into markets after Tuesday’s session. Further, my guess is that Chairman Powell will…
After a strong three day bounce, the market softened Thursday with the S&P -0.72%, the NASDAQ -1.71% and the Russell -2.27%. NYSE + NASDAQ Advancers to Decliners were 1,997 to 6,030 on relatively mild volume of 8.3 billion shares compared…
Monday’s trading session was bullish and the trend remains up regardless of the fundamentals. The most positive development was the broadening out of market strength. Last week was all about mega cap tech pulling up a thin market. Today the…
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…
The great hedge fund manager David Tepper of Appaloosa Management gave an extended interview [CNBC Pro Subscription Required] to Scott Wapner on Friday’s Fast Money Halftime Report on CNBC. The key takeaway in my opinion is that interest rates will…
It was exactly a week ago (Thu 10/14) that the futures were ramping up for what turned out to be a character changing day. Over the weekend, Callum Thomas posted the above chart on seasonality in his widely followed “Chart…