It was a better day for bulls as markets registered an accumulation day with respectable gains. However, only one index, the Dow, made a test of resistance (200-MA on hourly) and was initially rebuffed. The S&P registered nearly a 2% gain. The 20-day MA looks to be the next area of resistance as today marked…
After a brief 0.1% rise in inflation in June and July, Spain’s National Statistics Institute (INE) estimates the CPI stands at ‒0.9% in September, five tenths lower than that registered in August. The above is a “flash” reading. The INE reports Spain’s HICP (Harmonised Index of Consumer Prices), a measure that normalizes Spain with the…
For 2015… you get nothing!! The quarter’s carnage: Russell 2000 down 12.7% – worst qtr since Q3 2011 Dow down 8% – worst qtr since Q3 2011 Nasdaq down 7.9% – worst qtr since Q3 2011 S&P down 7.4% – worst qtr since Q3 2011 Not pretty: But credit markets were a disaster: HYG…
Recency bias is a real sonofabitch. After someone goes through a traumatic experience they tend to be shocked into believing that the next big traumatic experience is right around the corner. But the reality is that outlier events are outlier events for a reason – they don’t happen nearly as often as we expect. For…
The miners outperformed the metals today for the end of the third quarter. I am getting much more interested in the miners at these prices, and my interest will become stronger if the metals can manage to sustain a rally out of this bear market trend. If the metals rally, I would expect the mining…
Today I wanted to use Barchart to sort the S&P 600 Small Cap Index stock to find the stocks with both a Weighted Alpha higher than 50.00+ and technical buy signals of 80% or better. There were only 2 – Digi International (NASDAQ:DGII) and Pericom Semiconductor (NASDAQ:PSEM). However, Pericom is up on a buy out proposal which has already been announced…
Three months ago to the day (6/30), I served up a list of reasons for lowering one’s exposure to riskier assets. I discussed weakness in market internals where fewer and fewer corporate components of the Dow and S&P 500 had been propping up the popular U.S. benchmarks. I talked about the faster rate of deterioration in…
Russia, the world’s largest nation, has seen its economy shift up and down and sideways, remaining staunchly viable for some time and then falling bitterly. Often the movement is in reaction to outside pressures while at other times it can be attributed to internal causes. Only recently, analysts viewed Russia as being economically weak and…
Stocks managed a bounce for the end of the quarter. Non-Farm payrolls on Friday. Economic news continue to bring a message of a sluggish recovery plagued by unequal gains and sluggish aggregate demand. Plenty of tail risks overseas and in the economy. Have a pleasant evening. Click on picture to enlarge Click on picture to…
Historical volatility projection suggests the range of probable S&P 500 prices from around 1750 to 2050 by year-end Major trend indicators suggest high probability of prices ending in the lower half of the probability range GAAP P/E and forward operating P/E ratios reverting to 5-year and 10-year averages suggest prices in the 1700’s GAAP earnings have…
