State of the Markets
It's a New Bull Market
By: David Moenning
Stocks struggled in the early going yesterday in response, at least partially, to the fact that the IMF announced a reduction in their forecast for global growth in 2017. Apparently the BREXIT vote has caused the group to rethink their outlook. In fact, just one day before the Brexit vote…
Time To Take a Break, But...
By: David Moenning
After making new highs in five of the last six sessions, many analysts believe that it is time for the bulls to take a break. After all, the S&P 500 has (a) finished green for thirteen of the last sixteen days, (b) moved to new all-time highs, and (c) gained 8.3% in the process. Let's…
A Good Overbought Condition
By: David Moenning
Good morning and welcome back. Since I like to start with something positive whenever possible, let me just say that it is a glorious summer morning here in Evergreen, Colorado! It's also a big week for the markets as earnings season moves into high gear, the Republican National Conventio…
Time to Pick a Side?
There are two clear camps regarding the outlook for the stock market at the current time. On one side of the aisle there are the bulls, who contend that the recent break to fresh all-time highs (a) was driven by expectations for an improving economic and earnings picture, (b) accompanied …
Still Skeptical of the Rally?
If you find yourself skeptical about the sustainability of the current run for the roses in the stock market, you aren't alone. Frankly, you can't be blamed for expecting something negative to come out of the woodwork which would send traders into a selling tizzy and toss the major indice…
The Good/Bad News of New Highs
First the good news. The DJIA, S&P 500, and Mid-cap indices all closed at new all-time highs yesterday. In addition, most of our trend and internal momentum indicators are green, which is to be expected at this point in the game. On that note, our 10-day advance/decline indicator - wh…
Time To Uncork the Champagne?
After more than a year of ups and downs, which some contend included a "mini" or cyclical bear market, the S&P 500 finally returned to The Promised Land yesterday with a new all-time closing high. To be sure, there were no fireworks on display as the venerable index closed well off th…
Is a Breakout In the Cards?
Good morning and welcome back. Friday's Jobs report provided traders with confirmation that the U.S. economy is not falling off a cliff and that May's nonfarm payroll data was a one-off. Even without the 170,000 striking Verizon workers returning to work (which artificially inflated the d…
Does Strong Jobs Report Give Bulls the Edge?
Well, it's finally here - Jobs day. To be sure, this is the Big Kahuna of economic reports these days. The Nonfarm Payroll data is closely watched as an indicator of both economic health and a "tell" for the Fed's future monetary policy moves. So, let's get to the numbers.
After l…