All Clear? image

All Clear?

The bad news is that after a rather rambunctious rally, the S&P 500 remains -8.9% from its all-time high. The good news is that after the -19.8% shellacking that ended on Christmas Eve, the stock market now starts the week well above its December lows and looking good. To be s…
Is Enough Baked In? image

Is Enough Baked In?

After a very scary decline and then an impressive rally, the question most investors are probably asking themselves is, where are we now? In order to get our bearings, let's review where we've been. Recall that as of the market close on Christmas eve, the bears had pummeled the S&…
The Magic Words image

The Magic Words

Well that was fun. Don't look now fans, but after Friday's joyride to the upside, the S&P 500 is up nearly 8% from its Christmas Eve low and is now down only -13.3% from the most recent high water mark. My guess is everybody is feeling a little bit better about the stock market right …
Is It Over? And What To Expect Next image

Is It Over? And What To Expect Next

I ended last week's pre-holiday missive with the following: "It is easy to say the bulls are due. Really due." And as if right on cue, stocks proceeded to bounce hard the following session with the Dow Jones Industrial Average enjoying its biggest one-day point gain in history: 1,086.25. …
More Than Meets The Eye Happening Here image

More Than Meets The Eye Happening Here

I attended a holiday gathering for one of my advisor clients on Friday evening. While everyone appeared to be in the spirit of the season, when the conversation eventually turned to the market action, the mood quickly changed. In talking with fellow financial professionals through…
Are Investors Now Fighting The Fed And The Tape? image

Are Investors Now Fighting The Fed And The Tape?

I'm not sure whether it was the late Marty Zweig or his buddy Ned Davis who originally coined the phrase, but it appears that after yesterday, anyone long the stock market may now officially be fighting both the Fed and the tape! Investors came into Wednesday in a hopeful mood. An…
Here's Hoping Santa Makes The Trip image

Here's Hoping Santa Makes The Trip

It was a very busy weekend in St. Louis, visiting our grandson, daughter and son-in-law, so I'm going to keep the subjective side of this report short and let the models and indicators do most of the talking. But first, let me say that watching a two-year old tear into presents is about a…
Was That The Soybean Bottom? image

Was That The Soybean Bottom?

It was another wild ride on Wall Street yesterday. Stocks stumbled hard out of the gate, following the lead of most global markets. By 11:00am EST, the DJIA was down more than 500 points, had broken below the October lows, and appeared to be heading toward the next important level on the …
The Good News: Valuations Are Improving image

The Good News: Valuations Are Improving

Due to system maintenance, updates to several key data/models in our indicator boards were not available over the weekend. Thus, our weekly review of market indicators will be postponed until tomorrow morning. But as the title of this morning's missive indicates, there is some good news t…
All's Well That Ends Well, Right? image

All's Well That Ends Well, Right?

The financial press reported that stocks remained "volatile" on Thursday. But since the Dow ended the day with a loss of "only" 79 points and the S&P 500 fell just 4, the attitude appeared to be, all's well that ends well. However, at 11:28 am EST, all was definitely NOT well …