Fed Chair Powell sent interest rates soaring and tanked the stock market Thursday when he continued to press his “higher for longer” narrative at the Economic Club of New York. He doesn’t seem to understand that it’s time to change…
You’d think defense stocks would have performed better given all the geopolitical conflict over the last two years. But – as Jon Sindreu wrote in his excellent column in this morning’s WSJ (“What Defense Shares Say About A More Violent…
There is a dealer at Casino M8TRIX in San Jose who is also a stock trader and likes to talk to me about the market when I play poker there. When I walked in yesterday, as soon as he saw…
On August 24, I argued in “The Bear Market Rally Is Over” that the outperformance of The Magnificent 7 was masking weak overall market internals and that the bear market was over. About a month later on September 20, the…
September was a tough month for stocks with the S&P down 4.87% and the NASDAQ 5.81%. In fact, the S&P is currently sitting only 2% above its 200 DMA. The 200 DMA is the most important indicator in technical analysis….
In the wake of the Fed’s “hawkish pause” Wednesday, in which they paused their interest rate hiking campaign but said they may still hike one more time this year and increased their forecast for the Fed Funds rate at the…
While the Fed is almost certain to pause its interest rate hiking campaign tomorrow, the question now is whether it can engineer a soft landing. On the front page of today’s WSJ, Nick Timiraos surveyed the risks (“Why A Soft…
As I suspected in Saturday’s weekly preview blog, Oracle (ORCL) got a little too hot heading into its just released earnings report. A general rule of thumb is that a stock more than 30% above its 200 DMA is extremely…
In an interview on CNBC’s Closing Bell Wednesday [SUBSCRIPTION REQUIRED], BTIG’s Chief Market Technician Jonathan Krinsky said that the current rally is either the weakest start to a bull market ever or the biggest bear market rally ever. He said…
Even if this is a new bull market, stocks got a little too hot to handle and we’re undergoing a mild pullback this week. Powell talked tough in front of Congress Wednesday and Federal Express (FDX) and Darden (DRI) both…