S&P500 Enters Over-Bought Territory

Last week was another strong showing for the SPX in 2019.  In fact, so far, there have only been 3 negatives closes for the year.  The last time we saw the markets start this strong was… oh yeah, last year.  Then, in February, everything tanked. This is not to say that everything is gearing up […]

Danger Zone

After a pretty good rally from the December 24, 2018 lows, the markets may be in for a tough week as they enter the ‘danger zone’ of resistance. During the slide from the October 2018 highs, the markets oscillated around the 2600-2650 or so levels. These numbers are not precise, but they’re close enough to […]

New Year’s Shift

Happy New Year! This is the first full week of trading for the year – so back to work! Markets are trying to shake off the December 2018 hangover. Last week’s first trading week sure made it interesting. The big news was the blowout jobs report last Friday coupled with the more Dovish tones from […]

2018 Lows in Sight

Looks like the stock markets made Santa’s naughty list. Last week seemed like things were stabilizing until the Friday afternoon selloff threw that idea out the window. At this point, sentiment is shot. It’s the end of the year. And the Fed has backed itself into a corner – damned if it does, damned if […]

Searching for Support

After another ugly week of down-side, reports all over the internet insist the futures are indicating a drop for the US stock markets today. Will it happen? Maybe. Over the weekend stocks dropped in Europe, China, Japan and the like. US Futures were also down about 1% or so from Friday’s close. But futures have […]

Market Macro Fails

For the first time since 2016 the BigFoot Market Macro Signal has gone negative. And we’re already set up for a potential whipsaw, as futures are pointing to a higher open that would put the SPX above the threshhold to flip the Macro back into buy territory. Over the weekend the big announcement was a […]

Don’t expect much from a three and a half day trading week. Holiday weeks like this traditionally mean lower trading volume – and often higher volatility. Given the most recent few weeks in the market though, sentiment seems to be shifting. The Q4-Santa Claus Rally is in danger of passing us by. Post-Thanksgiving we’re really […]

Guess Week

Markets are yet to commit to anything from a technical perspective.  The SPX downtrend may extend toward 2532 (February’s SPX low), or it could rebound toward the 2800 resistance level.  That’s an election for you.  At this point, things are so tight we have little more than a guess to go on. So for the […]

Correction Territory

Last week the SPX officially crossed into correction territory.  For those of you unclear what that means, it was a full 10% drop from the high-water mark set at the beginning of October.  This also send the major indexes into negative territory for their year-to-date return figures.  So it’s been a rough month. Is there […]

Technical Outlook Still Unclear

While the long-term trend support seems to be in place (around the 200-day moving average), the intermediate-term numbers are all over the place. This week is an interesting set-up.  The futures over the weekend are indicating a strong positive open for the week.  And over 1000 companies report earnings this week.  This, paired with very […]

Pivot Week

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Equity markets had a pretty solid pull-back last week.  The question is why?  Is there a fundamental shift in the economic data?  Profit taking? It may have been a derivative of the ‘Trade War’ with China.  China has threatened to sell off $3B or so of US Treasuries.  Assuming this is credible, the front running […]

If You Ignore the News…

If you ignore the news, the technical picture for this market looks strong.  The past several weeks have seen volatility reign in, so the over-bought conditions are a lot less menacing than they were a few weeks back.  As of right now, traders seem content with 2900 has the support for the SPX. With Canada […]

Trade Wars are Easy to Win (We Hope)

Last week Trump threatened to triple down on China with even more tariffs if they didn’t come to the table for a trade discussion. Meanwhile, the politics of the day have the country so split along partisan lines, there may be very little political advantage to Trump to deviate from this position.  So the game […]