For the first time in what seems like forever, the market corrected over the last 7 trading sessions. The leading Nasdaq-100 (QQQ) – dominated by The Magnificent 7 – lost 5.5% over that time period. At first it looked like…
While the S&P is near all time highs it might surprise you to know that the bearish case has rarely been stronger during my almost 20-year career in the business. In this blog I’m going to lay out a bunch…
To be honest, it’s hard to find reasons to be bearish on stocks right now. The Federal Reserve essentially declared “Mission Accomplished” in its war against inflation last Wednesday. And they appear to have accomplished this without tipping the economy…
The stock market is starting to levitate and bears are nowhere to be found. The S&P is trading at its high for the year and the VIX is at a post-COVID low around 12. But the in line CPI may…
This morning I wrote about how I was “Nibbling On NKE” heading into its earnings report this afternoon. It was similar to the plunge into United Natural Foods (UNFI) I made on Monday ahead of its earnings report Tuesday morning….
[Powell] didn’t sound to me like he was itching to hike again. He sounds like he’s pretty comfortable where they are, sitting back, and watching things play out – Michael Feroli, Chief Economist JP Morgan (quoted in Nick Timiraos, “Fed…
Those of you who have followed me for a long time probably thought you’d never hear this: Tesla (TSLA) is a buy. My beef with TSLA was always that it was significantly overvalued but that is no longer the case….
It’s been a few days since last Thursday’s stunning reversal giving us some time to sort out what it means. As predicted some found technical analogies to support the idea that the price action suggested a bottom was near. The…
We’re a CPI Report away from Jackson Hole being peak hawkish – Rob Crumpton, Stocktwits, Friday September 2 6:23am PST Rob Crumpton had a great tweet on Stocktwits Friday morning. While everybody is in a panic over Fed Chairman Powell’s…
While the technicians continue to see downtrends and consolidations, the market is now headed higher for the intermediate term. By the time the technicians have their price “confirmation” the rally will be mostly over and it will be time to…