The stock market got smashed to open September after the long Labor Day weekend. The S&P was -2.12% and the NASDAQ -3.26%. Nvidia (NVDA) led the way, dropping almost 10% as news that the DOJ is investigating it for antitrust…
Everybody knows that December is one of the best months of the year from a seasonality perspective. And with the Federal Reserve on pause, the consensus for a year end rally is almost universal. The S&P is only 40 points…
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…