Game of Inches

Given that another earnings season is just around the corner — AND the fact the market hasn’t fallen in light of all the other dysfunction around the globe — it’s sensible to simply play this thing by the numbers right now.  And the numbers say we’re in a sideways-to-positive slow climb until something changes the […]

When Action Becomes Reaction

What do you do with a Teflon market?  It seems stock market indexes are hell-bent on going higher no matter what the uncertainty.  If a lesson may be learned here, it’s that central bankers are a powerful bunch.  It appears the liquidity train is enough to keep almost every other form of risk outside the […]

The Data Hasn’t Failed

The futures are indicating a solid start to the week.  But technical data continues to show significant resistance at the top of the trading range.  For the SPX, the number is about 2480.  Given the market’s ability to hang on in the face of hurricanes, earthquakes, and missile threats, support has been pretty remarkable.  It […]

Uphill Battle

This week is likely a tough one if you expect the market to climb higher.  While anything is possible, there is an uphill battle.  You’ve got increasing geopolitical risks as North Korea fans the flames of potential war. South Korea, China, Russia Japan, and a host of other countries are all getting dragged into the […]

Stand By

Do to technical difficulties today’s blog will be slightly delayed.  I apologize for the inconvenience. IMPORTANT DISCLOSURE INFORMATION Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, […]

Catching a Falling Knife

Last week was rough, with Thursday seeing some of the worst downside volatility in a long time. The question now?  Is the worst behind us? This week will be important from a technical perspective as several key resistance levels are in play. Any positive momentum for this SPX was effectively erased last week.  The support […]

Phantom Correction

If you were to peel the layers back inside the S&P500 and look at the individual stocks, what you’d find is that roughly 40% of the underlying holdings have already experienced a 10-percent-plus pull-back from their high-water marks for 2017.  This is important to consider when looking at how corrections have occurred in this bull […]

Support and Resistance

With markets being well into the ‘meat’ of earnings season, let’s talk technical numbers.  For the SPX, the big question is:  will we or won’t we break 2500? Of course we will…  the question is when? The SPX is less than 1% from the key 2500 level.  At the same time, we’re going into the […]

Grinding Higher

Make no mistake, the technical analysis of this market has the SPX moving for 2500 in short order.  Given several FANG companies reporting this week, it’s possible the index could take out the next level this week.  There’s little on the fundamental side of the equation that should derail things.  The story is simple — […]

Big Week – All-Time Highs Ahead?

With the first big wave of earnings due this week, the markets are set to make a decision:  higher or lower?  Given the overall picture, let’s not over-complicate things.  Fundamentals are still solid, and the technical trend — after last week’s push higher — is looking strong.  If earnings come in at or better than […]

It’s (Almost) On

If anything will kill this bull market, it would be earnings season. The economic data remains inline with what the markets have been expecting.  Oil is low, but so is unemployment.  So inflation remains in check (for now).  This is the same recipe we’ve seen for years — the recipe that kept rates at historic […]

Holiday Week

Tuesday we celebrate the original Brexit in the form of Independence Day.  The holiday has different meanings to different people, but it is uniquely American in nature.  However you choose celebrate (or not), please stay safe out there! For the week, the markets are likely to be relatively quiet.  With the holiday falling on a […]

The Calm Before Q3

The big news for this week is probably going to be Tuesday’s Janet Yellen speech.  Will we hear anything new?  Are market expectations out-of-line with the Fed’s game plan? Short answer:  probably not. It’s the end of Q2.  Odds are it’ll be a fairly low-key week.  Once Q3 earnings start coming out multiples can be […]

Carry On

Futures markets are indicating a higher open for the SPX after last week’s Fed news.  Geopolitics aside, this week should be relatively ‘boring’ as far as data goes.  There’ll be a little info on oil inventory Wednesday, some jobs data Thursday, and a fair amount housing data between Thursday and Friday.  Unless something comes in […]

Waiting for Escape Velocity

Escape velocity is an interesting term.  In physics, it’s defined as the minimum speed needed for an object to escape from the gravitational influence of a massive body.  For the SPX, we could call it the minimum momentum needed to break above the 2400 level. Last week was a tough one because it looked like […]