Daily State of the Markets
The Next Big Worry? Well, Never Mind...
A couple weeks back, I opined that the next big problem for the stock market might revolve around global central bankers changing their monetary policy tune on a coordinated basis. The idea was simple. Stocks have enjoyed the benefits of capital creation via global QE programs since the c…
A Bull Market Until Proven Otherwise
Good Monday morning and welcome back to the land of blinking screens. Global growth, the Trump/Russia situation, oil, the upcoming Fed meeting, and the greenback are in focus to start the week.
On the growth front, the euro area Markit PMI fell to 55.8 in July, which is the weakes…
Health Care Circus, Earnings In Focus
I am technology-challenged today (why my laptop had to crap out 21 days before I get my big desktop rig back is beyond me), so I am going to keep this brief.
Health Care and earnings are the focal points in the early going today and if the early action is any guide, we can probabl…
Indicator Review: Not Much To Complain About
Good Monday morning and welcome back. It's the start of a new week so let's get right to our objective review the key market models and indicators and see where things stand. To review, the primary goal of this weekly exercise is to remove any subjective notions I might have in an effort …
Yellen Sounding More Like Yellen Again
When it comes to the markets, the slightest change in the narrative can make all the difference at times. And based on the market action yesterday, this might be one of those times.
I wrote on Wednesday that rising bond yields (if the move were to continue, that is) could become t…
The Next Problem Could Be...
Don't look now fans, but bonds may be back on the list of things to worry about in the stock market. Jeff Gundlach, who has apparently been anointed the new king of the bond market, has suggested that bonds are on the precipice of a bear market and that Ten-year Treasury yields are on cou…
What I've Learned About Bear Markets
As you are likely aware, I've been at this game for a fair amount of time now. Starting in the financial services business straight out of college in 1980, I began gravitating toward the stock market and by 1987 my colleagues and I were managing "OPM" (other people's money) on a discretio…
Time To Stay Alert
Good Monday morning and welcome back. It's the start of a new week as well as the semi-official start of the second half of the year, so let's get right to our objective review the key market models and indicators and see where things stand. To review, the primary goal of this weekly exer…
Uh, What He Meant To Say Is...
On Tuesday, the stock market experienced its biggest decline in a month (which isn't really saying much based on the lack of volatility seen since mid-May) on the back of a confluence of negative inputs. One of the primary issues that traders fretted over were comments made by Mario Dragh…
Apparently It Takes A Village
When a decline in the S&P 500 approaches -1%, I tend to sit up and take notice. Especially when the decline occurs during a period of low volatility and/or comes out of the blue. And generally speaking, when such a dip occurs, there is usually some sort of headline to cause traders to…