There was something odd about the last earnings season: while many companies beat Q4 expectations, few were rewarded by material stock upside, yet companies which missed, or guided lower, were violently punished, falling on average in the high single-digit percent range. According to some, this is an indication of just how priced-to-perfection corporate America has…
It was risk on today as the safe havens were sold and stocks were bid higher. Although it should be noted that they fell off from the highs at the close. Gold and silver were hit, taking back their recent gains, as the Dollar gained back a little ground on its DX index. The catalyst for this…
Top tickers for end of day: BAC, RIGL, FB, NXPI, AAPL.
The Chart of the Day belongs to uniQure (QURE). I found the gene therapy stock by using Barchart to sort today’s Top Stocks to Own list first for the highest Weighted Alpha then I used the Flipchart feature to review the charts for consistent price appreciation over the last 6 months. Since the Trend Spotter signaled a buy on 4/10 the…
PNC Financial (PNC) is expected to report earnings Friday before market open. The whisper number is $2.41, two cents behind the analysts’ estimates and showing no confidence from the WhisperNumber community. A year ago the company reported earnings of $1.96, thirteen cents short the whisper number. PNC has a 76% positive surprise history (having topped…
Fed Minutes Released: Stocks Decline The Fed released its Minutes from the meeting from March 20th to the 21st. I consider it to be slightly hawkish because all the FOMC members stated they expected the economy to strengthen and inflation to rise in the coming months. The stock market had a moderate sell-off in response to…
The SENSEX was the star performer in Asia today against what looked like a sea of red boards. The SENSEX closed up over +0.5% on the day completing its sixth positive close in a row. Optimism buoyed the market ahead of industrial production and inflation data releases. Solid earnings optimism is supporting prices with good…
Hurricanes continue to impact claims taking procedures in the Virgin Islands and Puerto Rico. The market expectations for weekly initial unemployment claims (from Bloomberg / Econoday) were 229 K to 232 K (consensus 230,000), and the Department of Labor reported 233,000 new claims. The more important (because of the volatility in the weekly reported claims and…
T2108 bullish divergences still in full effect I don’t tend to post the T2108 chart all that often, but I have lately because it does a much better job of forecasting and determining market direction following a major market sell-off. Extremes are best seen on this chart, particular when the readings delve into the single…
In the short term valuations aren’t important to stock performance, but in the long run they provide the best information about expected returns. Stocks are one of the few assets that experience selling pressure when they go on sale. That’s because trend followers, who are focused on the short-term, are selling to avoid further losses….
