David Moenning
The Key to the Second Half Will Be...
As the second quarter of 2021 winds to a close, the S&P 500 finds itself at all-time highs. To many, the new heights the venerable large-cap index has recently scaled is more than a little bewildering.
After all, wasn't the stock market in the throes of a corrective phase just…
What's Up With Bond Yields?
I am finishing up a long weekend visit with family in Santa Fe this morning, so I'm going to keep today's missive short and sweet. My current take is that markets remain in a consolidation mode and are now in the process of digesting/adjusting to the new info from last week's Fed meeting,…
About That Inflation Problem
For those of you keeping score at home, it was the inflation data that dominated the stock market game last week. While the numbers were eye-popping, the market reaction was not. And the narrative around the subject appears to be evenly split between the two teams on the field.
In…
What's Next?
Stocks didn't make much progress again last week and appear to remain trapped in a consolidation phase. While the S&P 500 did manage to eke out a gain, none of the major indices were able to break out of their respective trading ranges.
The sideways action seems to be driven b…
New Information
Last week, we looked at three key issues that the stock market seemed to be struggling with: (1) The possibility of the Fed "tapering" their bond-buying program earlier than expected, (2) the potential for inflation to become ingrained (aka non-transitory), and (3) the unavoidable slowdow…
Three Issues Markets Are Working Through
The DJIA and S&P 500 have been moving sideways for much of the past month, while the consolidation action in small-caps and the NASDAQ 100 has been going on even longer. Concerns over inflation, and in turn, the Fed's response - as in how soon Powell & Co would begin "tapering" th…
A Chart That Makes Me Say, Wow!
While almost everyone is still talking about Friday's jobs report and whether or not inflation is here to stay, I'd like to use my pixels to talk about something else on this cold and rainy/snowy Monday morning in Colorado. You see, when doing my review of news, charts, and models, over t…
What Could Go Wrong?
My friend/colleague Mr. Jeff Pietsch, CFA, and I were asked last week to offer our thoughts on the reasons why the U.S. stock market could experience a correction in the coming weeks/months ahead. It was a good exercise as it is a really good idea to look at the game from both t…
Is Sideways The New Down?
The State of the Market
Stocks moved largely sideways last week in response to what appears to be conflicting narratives. But then again, given the overbought nature of the market and the overexuberant levels of sentiment, sideways beats the alternative.
T…
