David Moenning
BREXIT is Indeed Hurting UK Economy, But...
Good morning and Happy Friday.
Well, BREXIT is back in the headlines again this morning. It will be one month tomorrow since the Brits voted to focus on their freedom and leave the EU. The good news is that after a two-day freakout, the global markets decided to focus on the macro…
It's a New Bull Market
Stocks struggled in the early going yesterday in response, at least partially, to the fact that the IMF announced a reduction in their forecast for global growth in 2017. Apparently the BREXIT vote has caused the group to rethink their outlook. In fact, just one day before the Brexit vote…
Time To Take a Break, But...
After making new highs in five of the last six sessions, many analysts believe that it is time for the bulls to take a break. After all, the S&P 500 has (a) finished green for thirteen of the last sixteen days, (b) moved to new all-time highs, and (c) gained 8.3% in the process. Let's…
A Good Overbought Condition
Good morning and welcome back. Since I like to start with something positive whenever possible, let me just say that it is a glorious summer morning here in Evergreen, Colorado! It's also a big week for the markets as earnings season moves into high gear, the Republican National Conventio…
Following in Their Footsteps
Following in Their Footsteps
After a brief respite in the global market selling pressure, the bears have re-emerged this morning and are out in full force. European markets are broadly lower, while Asian markets closed lower across the board. We knew the situation in China wasn'…
We Got the Bounce - So What's Next?
We Got the Bounce - So What's Next?
From the August 19th open to the August 25th close, the S&P 500 lost -10.88%, the largest weekly decline in recent memory. The primary driver of the downward action has been centered around China, as we've written about at length over the …
When Is Enough Enough?
When Is Enough Enough?
The past three sessions the U.S. stock market has followed China's lead, plunging -8.96% in that short time. With the Shanghai Composite down another -7.6% overnight (now -15.5% this week), at quick glance it seems like we're in for another rocky …
The Worst Day of the Year
The Worst Day of the Year
It felt like it had been coming for quite some time, but yesterday's selling spree was still surprising given the sheer severity of declines across major indices despite the lack of an "event," so to speak. Another destructive session in Chinese markets…
Do We Have Another V-Bottom On Our Hands?
Current Market Outlook
Thursday's rebound wasn't out of the ordinary given what we've seen over the past year. The "v-bottom" recovery pattern was a major theme in 2014 (especially in the latter half of the year), and has been prevalent in 2015 as well. Could this be yet another…