2016 started really bad for markets in general, and stocks in particular. Everyone was calling for the end of the stock bull market, and the start of another 2008-alike collapse. So far, that has not materialized. Given the strong 9-week rally off the February lows, one could believe that the sell off in stocks is over, and…
“Living in fear is just another way of dying before your time” Drive By Truckers We saw the breakout weaken today but things still look fine. Many times we see breakout levels tested before we really accelerate higher so I’d like to see that and so far we look fine. SPY is holding and while…
The Tuesday Yellen rally that spilled into Wednesday at a decelerating rate ended today in a zombie-like session, the narrowest intraday trading range of 2016. The S&P 500 hovered around the flat line and then inched upward to its 0.19% intraday high during the lunch hour. The index then slid rather gracefully to its -0.31%…
“Full fathom five thy father lies, Of his bones are coral made, Those are pearls that were his eyes, Nothing of him that doth fade, But doth suffer a sea-change, into something rich and strange.” William Shakespeare, The Tempest Let’s see how we do through the Non-Farm Payrolls Report tomorrow. Like most of the really big,…
Fresh on the heels of a banking crisis in Italy and a “surprise” budget blowout in Spain earlier today, a group of eight countries seek a change in the way the EU calculates deficits. The countries, including Spain and Italy, want more time to meet Eurozone budget deficit requirements. Bloomberg reports Italy Leads Eight-Nation Push for…
Photo Credit: Ben Stassen BlackBerry (BBRY) Information Technology – Computers & Peripherals | Reports April 1, Before Market Opens Key Takeaways The Estimize consensus is calling for EPS of -$0.06 on $571.81 million in revenue, 4 cents higher than Wall Street on the bottom line and $12 million more in sales Blackberry’s two newest products, the Blackberry…
The economics of oil are changing. At long last, there’s a bid under the price of West Texas Intermediate (WTI), the US benchmark crude grade. You can see that in the double bottom scribed at the $26 level earlier this year. Since the last test of support in February, WTI’s risen to toy with a…
GDXJ is going to break one way or the other pretty soon. It’s in a Diamond, which is a consolidation pattern, usually thought to have no bias between trend continuation (in this case up) or reversal. If it ends up breaking down it will have been a volatile reversal pattern that whipsawed everybody up and…
…but ugly goes down to the bone. Stocks were running out of gas today. Traders were continuing to sit on their hands for the most part, judging by the volumes, waiting to see what unfolds from the Non-Farm Payrolls Report tomorrow. The market has had a nice upwards bias thanks in large part to Chairperson…
From Sentier Research According to new data derived from the monthly Current Population Survey (CPS), median annual household income in February 2016 was $57,129, not significantly different from the January 2016 median of $57,192. The Sentier Household Income Index for February 2016 was 99.7 (January 2000 = 100), 0.1 percentage point lower than last month….
