State of the Markets

The Macro Concerns In 3 Charts

By: David Moenning

To be sure, two big events will likely capture investors' attention in the short-run: Apple's (NASDAQ: AAPL) earnings and today's Fed Meeting, which concludes this afternoon at 2:00pm eastern. However, from an intermediate-term perspective, it appears that the macro picture still holds th…

Is the Tape Telling Us to "Sell in May and...?"

By: David Moenning

What started out as a hopeful end to the first positive month in the last three ended in disappointment Monday. Green turned to red. Optimism about earnings turned to fear that earnings have peaked. Hope for ongoing economic growth turned to, well, you get the idea. By the end of the day,…

The Next Big Fear Is...

By: David Moenning

At the end of last week's missive, I concluded with the idea that the stock market continues to adjust/adapt to the new macro outlook, which includes higher rates, higher inflation, a stronger economy, and perhaps peak earnings growth. This week, I believe it is important to add t…

The Headlines Just Keep Coming

By: David Moenning

Anyone thinking that the major averages moving back above key technical levels last week meant that the volatile, news-driven environment had ended was sorely disappointed on Friday. In short, the negative headlines returned in spades and investors were treated to yet another Friday dance…

Why The Hesitation?

By: David Moenning

The S&P 500, NASDAQ, S&P Midcap 400, and the S&P Small-Cap indices all presently sit above all the important moving averages - which I'll define as the 5-, 10-, 18-, 39-, 50-, 100-, 150-, and 200-day MAs. The NASDAQ 100 has now recovered more than half of the decline tied to t…

The Recent Action Is Encouraging

By: David Moenning

Don't look now fans, but the S&P 500 has closed higher in five of the last seven sessions and appears to be in the early stages of an uptrend. Of course, our furry friends in the bear camp disagree, pointing to the downtrend line that has been visible on the chart of the S&P since…

Are You Happy With 8% in Eight Months?

By: David Moenning

Good morning and Happy Tax Day, 2017. It is said that a picture is worth a thousand words. As such, I'd like to try and explain my view of the current market environment with a chart or two this morning. At this time yesterday, I opined that the stock market was in the process of …

My Take: Stay The Course

By: David Moenning

From my seat, it is clear that the stock market continues to consolidate the gains enjoyed post-tax reform. Yes, it is true that things may have gotten a bit exuberant during January. And as a chart of the S&P 500 clearly shows, those gains have been "taken back" over the past two mon…

Positioning For The Parade?

By: David Moenning

Although the major stock market averages failed to rise or fall by 1% or more on Wednesday (which has been the trend recently), the volatile, news-driven environment remained. In the early going, it appeared that traders might be able to shake off the news that geopolitical tensio…

Moving On...

By: David Moenning

The stock market reacted positively Tuesday as everyone in the spotlight seemed to say all the right stuff. However, today is another day and traders appear to be moving on. Tuesday began on an upbeat note following remarks by Xi Jingping regarding China's willingness to open its …