The S&P 500 put in a new record closing high on Monday, 6/19/17. So, are we “Up, Up and Away” from here? Maybe . . . but maybe not. Interestingly, the NASDAQ did not follow. Historically, the NASDAQ often leads the overall market and right now, it is looking a...
Do you remember the children’s game “Simon Says?” In the game, participants must follow the leader’s instructions only if prefaced by “Simon Says.” For example, if they say, “Simon says jump,” then everyone who jumps stays in the game. If the leader says, “raise...
The phrase “And the Band Played On” is a reference to a 1980’s film of that title that documented the growing AID’s epidemic and the reluctance of global governments to acknowledge it or to take any action. It seems apropos to the current market conditions. Despite...
Regardless of individual views on global warming, the fact that global markets gave a warm reception to President Trumps announcement on America pulling out of the Paris agreements is indisputable. I am careful to not make this newsletter a commentary on political...
Is the market “tone deaf” and just not hearing warning signs and continuing to put in new highs when the participants should be being more cautious? Or, is it “right on pitch” and listening to the correct inputs? You can make a case either way. I focus on trading...
I spelled low “Lowe” since Lowe’s is reporting earnings this week and that is likely to be a bit of a bellwether for market sentiment. Earnings season is winding down and Lowe’s is one of the biggest, most important companies left to report. They will release...
What was weird? The overnight market open was a little weird. I gave the French spelling of it, because of course, this is a reaction to the French Presidential election. The first weird thing is that this is the first major election in recent memory that the polls...
Late last week congress avoided a government “shutdown” and passed an extension that pushed a budget decision out a week or so. If you remember, we’ve been through this before a few times over the last few years. Previously it had more drama and volatility in the...
The overnight futures markets just opened and it was a “dramatique,” open. Of course, I’m using the French word for dramatic, and that seems appropriate as the reaction seems to be primarily a response to the French Presidential election results so far. S&P 500...
Both the S&P 500 and the DOW are showing very clear patterns, according to Dow Theory, that a correction has begun. This may not be the “Big One” yet, but we have a very high probability of at least a minor pullback before another move up begins. In the video, I...
