Santa Comes Early
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…
Bear Market To Begin In 2022, Defense Wins Championships
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…
Stocks Reverse Higher On Fed
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…
The State Of The Market Heading Into The CPI
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…
Impressive Breadth, Seasonality, TSLA, Monetary + Fiscal Policy = Supply Bottlenecks & Massive Inflation, CLF & MOS Earnings
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…
Bulls Win Again As Big Tech Shows Resilience, Bear Market Likely Deferred Until 2022, FOMO Plays For A Year End Rally
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…
Interest Rates, Indecision, Complacency and A Big Week Ahead
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…
What A Difference A Week Makes
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…
IWM 30% Above 200 DMA, Magazine Cover Indicator, Strategists Average 2021 S&P Target: 4,035, $ Approaching Long Term Support, Watch 3,633 Today
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The Bull Case, Case Study In Mania: DIS, Clissold Twitter Thread, Hedge Fund FOMO
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