Technical Support Starting to Form The wild year continues, with up’s and down’s becoming the norm. Look no further than the big bank analysts and you’ll discover plenty of opinions about where the market is headed. Some optimists suggest the SPX is headed back toward near-5000 levels. The bearish suggest closer to 3000 by year […]
What a Mess Markets are way-oversold by many measures. Typically this would suggest a move higher. However, we’re seeing a re-test of the June lows. A breach of this support level would be very negative from a technical perspective. And by very negative, we’re talking another 10-to-12 percent of downside decline for the SPX.Futures are
Oversold, but… The good news (if there is some) is the futures market is indicating a higher open this week. That may or may not mean much by the end of the week. But for now, I guess it’s better than opening up to more red.The word on the street is out. This week’s jobs
Wag the Fed Futures may look a little positive at the open today, but the momentum is all over the board, and technical signals are certainly mixed.The set-up for the week is anything but clear. The bond market is closed Monday. But the stock market remains open. And the biggies to watch this week are
VIX Suggesting Possible Rally Of all the indicators out there, the VIX is the interesting one. It is currently over 32…again. And while it’s not the most extreme (high) it’s been, these levels have been followed by rallies for months now.Clearly, this isn’t a guarantee for the ‘all clear’ out there. There is still a
On The Road Nobody likes excuses, and the numbers don’t care if you’re out of the office. So… here are the numbers. What’s missing is any life-altering analysis.The summary (as best I can gather) is that Fed-speak shifted somewhat Friday. The implication is that maybe — possible — we’re not sure — but the Fed
All Eyes on the Fed Last week was earnings (and Big Tech was a wild ride). This week it’s the Fed.We’re expecting a rate hike Wednesday. Perhaps more important, what is all the data and fed-Speak we’ll hear?Jobs, manufacturing, and the Fed will all be reported this week. Strong numbers increase the likelihood the Fed
What Happens After a Huge Up Week? We don’t know what happens after a huge week. But we can guess: Profit taking.Last week saw major indexes move up over five percent. That’s a big move. The question is why?The main reason is likely the softer-than-expected CPI data. This suggests the Fed may be able to
Thanks Giving Week The Holiday Season is officially here. The tug-of-war has begun.Often, the Holiday Season brings a Santa Claus rally. Between now and Christmas, it’s common to see stocks rise as consumer spending drives the retail sector of the economy.Not surprisingly, 2022 may buck the traditional trend. While the news narrative post-election seems to
Numbers to Note The short, low-volume, Thanksgiving Week is over. Now to see where the market is headed. Santa Claus Rally? Or bear market coal?If you’re superstitious these are interesting days. The data suggests a recession is coming. However, popular wisdom says the markets will do whatever they can to prove the greatest number of
