Daily State of the Markets
What's the Takeaway?
With the end of the month approach and the stock market acting a little strange lately, I thought it might be a good time to step back from the blinking screens and do an overview of the market using different lenses. What follows is my attempt at a succinct summary of each of the primary…
Modern Day Distribution?
There is an interesting pattern developing in the stock market these days. And while this pattern may be rooted in a very old-school concept - which may or may not apply to today's fast-moving, algo-driven markets - it is worth noting all the same because the implications are worrisome.
Will The Generals Follow The Troops This Time?
The headlines read that after more than a 15-year hiatus, the NASDAQ Composite index finally returned to new all-time highs yesterday. Think about that for a moment. It was more than 15 years ago that the technology bubble burst and ushered in the first of two brutal bear markets during t…
The Waters Remain Muddy at Best
The easiest thing to say this morning is that yesterday's action represented a case of "same song, different day" as the move up in prices really had little to no impact on the overall picture. The bottom line continues to be that there is still a fair amount of uncertainty in this market…
More Reasons For Uncertainty to Remain
In case you've been living in a cave or not watching the market at all this year, stocks continue to remain mired in a sideways trading range as uncertainty continues to be the name of the game. Yesterday, we pointed out that with more than 150 companies in the S&P 500 index reporting…
Waiting For Uncertainty to Dissipate
With more than 150 S&P 500 companies reporting earnings this week, no one could be blamed for wanting to hear "the message" from the week before making any new commitments. In short, this is a likely explanation for the ongoing sideways action in the stock market. The good news is tha…
The Cycles Say We Should...
Up until Friday morning at about 3:00 am Eastern Time, the U.S. stock market appeared poised to make a break for the border. More specifically, it looked like traders had put the worries about the earnings season, Greece, the economic data, and the Fed behind them. In fact, it looked like…
Poised To Break Up, Or...
The "discussion" in the market continues to revolve around four key areas: (1) When the Fed is going to raise rates, (2) The impact of the dollar's rally on earnings, (3) The state of the U.S. economy, and (4) The ongoing mess in Greece. To be sure, the primary focus on an intermediate-te…
The "Message" Is Beginning To Take Shape
With the earnings parade now underway, the "message" from the current reporting season is beginning take shape. So far at least, Q1 earnings have been largely in line with the reduced expectations. As has been the case for some time now, companies seem to find a way to beat EPS estimates …
Let The Games Begin
While the primary focus in the stock market continues to be the Fed and when the "liftoff" in rates will occur (the current consensus is for rates to initially rise in September), earnings will likely take center stage this week. Alcoa's report traditionally kicks off the earnings parade …