Daily State of the Markets
A "Sheer Misery" Market Defined
During a recent meeting, I was asked for my take on the current environment for "tactical" investment strategies. It was noted that most tactical managers had a rough go last year and wondered if the environment had changed with the calendar. My response was brief and to the point, "It's …
Will The Recent Trend Continue?
With the S&P 500 approaching the recent all-time high again, the question of the day is if the prevailing trend will continue. To clarify, the trend we are referencing is the propensity for traders to sell into each and every new all-time high set by the major indices. If one looks ba…
The Flip-Flop Environment Continues, But...
This week's Fed-induced joyride to the upside certainly made investors feel better about the state of the current stock market environment. However, the simple fact remains that it has now been more than a month since the S&P 500 has been able to put together two consecutive daily adv…
Can You Say, Dovish?
Obviously, the key to yesterday's joyride to the upside, which saw the S&P 500 surge nearly 46 points (or 2.22%) in about an hour and both the smallcap and midcap indices vault to new all-time highs, was the Fed statement. Obviously, traders liked what first the FOMC and then Ms. Yell…
Patience is Waning
It's "Fed Day" once again, so in all honesty, not much else matters in the early going today. The key to this fine Wednesday morning is that the Fed is expected to drop the word "patient" from the statement accompanying the rate announcement. The general consensus is that Ms. Yellen will …
In Case You Were Wondering...
The key talking points in the market remain unchanged this morning. First and foremost, there is the question of whether or not Ms. Yellen's merry band of central bankers is going to lose their "patience" this week and change the wording of the FOMC statement. It is widely expected that t…
Are Stocks Overvalued (And Does it Matter)?
The major stock market indices have been moving in a volatile, back-and-forth, up-and-down fashion for three and one-half months now. For anyone attempting to stay in tune with the trend of the market, this has been a frustrating time as the S&P has changed direction no fewer than 9 t…
Friday Focus: All About Jobs Report
Current Market Outlook
Thursday's price action was largely forgettable as the market paused in front of this morning's non-farm payrolls report. So, while China lowered its GDP growth target to the lowest in 11 years, the ECB set plans for their own QE, and jobless claims here i…
Are You Looking At the Right Picture?
Is there really anything more fun than watching the financial networks fawn all over a major index moving above a big, round number? Thinking back, I guess it truly was a big deal the first time the Dow Jones Industrial Average moved above the 10,000 level. (Admit it; you've still got the…
China, Europe, Fed Remain Focal Points for Markets
The big news over the weekend involved China. First, in a surprise move, the People's Bank of China cut interest rates by 25 basis points. The PBOC said the move was intended to keep rates at levels suitable to the current fundamental trends in economic growth, which as just about everyon…