State of the Markets
Reasons For Summer Rally
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As the misery that was the stock market in April came to a close, investors couldn't be blamed if they were ready to throw up their hands and embrace the old Wall Street adage, "Sell in May and go away!" (More specifically, move to cash on April 30 and return on November 1.) After all, th…
They Were Completely Wrong, But...
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By now, analysts still calling for a recession in the good 'ol USofA definitely find themselves in the minority and maybe even at risk of losing his or her job. At the beginning of last year though, the chorus of those expecting the economy to falter was strong. After all, the Fed was hik…
Stronger For (How Much) Longer?
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By now, everybody on the planet knows that "higher for longer" remains the Fed's primary battle cry. We also know that Jay Powell's merry band of central bankers will be "data dependent" when it comes to charting their next move. "Stay the course," they say. And "we are committed to getti…
Screaming For Attention
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After an impressive string of five consecutive monthly gains, during which the venerable S&P 500 gained an eye-popping 1,060.55 points (or +25.3%) during the November through March period, it now appears that the bears are finally (as in FINALLY!) attempting to get back in the game.
Stick With the Bulls
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Long-time readers know that I tend to hang with the glass-is-at-least-half-full crowd when it comes to the longer-term market outlook. The reasons are simple. First and foremost, stocks move higher over time. Yes, I recognize that this trend, which has largely persisted since trading bega…
Not So Fast, Please
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To be sure, what I like to call "Fed Expectations" has been the primary driver of the market action for some time now. You know the drill. When economic data or Fedspeak supports the idea of rate cuts in the near future, stocks rise. And vice versa. Simple, right? From my seat, this and t…
Not If, But When
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The stock market's latest joyride to the upside appears to have hit a snag. Well, for now at least, anyway. Up until last week, the bulls were large and in charge based on the idea that (a) the economy and in turn, earnings, were doing just fine, thank you and (b) the Fed was about to cut…
The Cycle Roadmap for 2024
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The drivers of the stock market at this point in the game are fairly clear. The Fed's next move, the state of the economy, and whether or not 2024 earnings can hold up to the rather lofty expectations appear to be the top factors on investors' minds these days.
So far at least, th…
Making It Official
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It took a while (as in over 500 days), but the S&P 500 and DJIA finally managed to close at fresh all-time highs on Friday. While the bears may argue that the so-called "breakout" must prove itself in the coming days/weeks (Martin Pring was famous for suggesting an additional 3% was n…
