State of the Markets

Jobs Report Surprises to the Upside

By: David Moenning

All eyes are on the labor department this morning as the "big kahuna" of economic data - aka the Jobs Report - showed that the economy created 255,000 new jobs in the month of July. In market vernacular, this was an upside surprise as the consensus had been for total job creation to come …

Carney Drags Out The Bazooka

By: David Moenning

The big news this morning is the "bazooka firing" by the Bank of England. With the economic data across the pond having been surprisingly weak since the BREXIT vote, the BOE was forced to reduce its growth estimates by the largest amount in history. In response, the bank has decided to ta…

None The Worse For Wear

By: David Moenning

Stocks have been stuck in a sideways trading range for 12 consecutive days now. What is noteworthy here is that stocks have not finished with a single move of more than +/-0.5% during this time, which is the longest such streak since 1995. History shows that this type of consolidation pha…

The Reasons Stocks Are Bottled Up

By: David Moenning

Depending on when you believe the counting should begin, the S&P 500 has now been moving sideways, in an exceptionally tight range of just 0.7%, for 11-13 days. Analysts tell us that this is the tightest such range since 2013 and the third longest such range in history. The question, …

Crude's Move Becoming Rude Again

By: David Moenning

It's always something with this market, isn't it? Just about the time you assume that the "earnings recession" is ending and that investors are looking forward to better days, something always seems to crop up that causes the worries to return. Although stocks have been strong in …

Two More Indicators Turn Green

By: David Moenning

I got a late start this morning so I'll get right to it. On this fine Thursday morning, it looks like global markets are (a) digesting the Fed statement, which appears to have been not quite as hawkish as had been feared, (b) waiting on the BOJ decision, and (c) dealing with another onsla…

Waiting on the Fed

By: David Moenning

The recent price action in the stock market reminds us that the dog days of summer are upon us. A time when most traders are dealing with family vacations and/or focusing on keeping that little white ball in the short grass. And given that recent joyride to the upside has created a pretty…

A Reason To Favor The Bulls

By: David Moenning

Although the S&P 500 remains 8.4% higher than the post-BREXIT panic low seen on June 27, there can be little arguing the fact that the rally has stalled out over the last week or so. After blasting 8.2% in just 12 trading session, both the Dow and S&P have moved mostly sideways si…

The Base Level Assumption Should Now Be...

By: David Moenning

Good morning and welcome back to the game. Since it's Monday, let's start the week with a review of the state of the market and our major market indicators/models. As usual, the first stop is a review of the price/trend of the market. Here's my current take on the state of the tec…

BREXIT is Indeed Hurting UK Economy, But...

By: David Moenning

Good morning and Happy Friday. Well, BREXIT is back in the headlines again this morning. It will be one month tomorrow since the Brits voted to focus on their freedom and leave the EU. The good news is that after a two-day freakout, the global markets decided to focus on the macro…