Major indices have either edged above breakout levels or are about to from 11 week trading ranges. If successful and all evidence so far looks good, do not argue. Remember, if the S&P 500 breaks out, that represents 500 names. If the NASDAQ 100 breaks out, that represents 100 names and so on. As we…
What do you know? Sweden’s Riksbank is now delving into the negative interest rates world and also announcing their own printing of money to…you guessed it…buy bonds. The question is why would anyone buy their own bonds that have negative yields? Simple. They are following the template of Bernanke and the rest thinking it will…
Major averages are now on the verge of going topside. We never jump the gun but with yesterday’s action, we are getting closer. There is nothing bad about a move above the range…as long as the move holds. Aren’t we geniuses? The important part of yesterday’s action was the SEMIS. As you know, they are…
Just a short note this morning: Despite the 50-50 market. Despite the many areas that are not working. Despite not having a bear market since the big flood of 42. Despite nary a good correction…despite all of this, major indices continue to be range-bound. There is an old motto…if they can’t sell them off, they…
Support held Monday morning at the lower end of the trading range leading to another jack to the upper end of the trading range. The swiftness tells you how paper thin the trading is…both ways. But we think the market hit a near term high at resistance on Friday…which probably leads to some more pulling…
A lot to digest this week as underneath the surface, a lot of jello moving on the plate…and it is not in a good way. While the major indices are at or near recent highs: The small caps continue to woefully underperform. This theme has been going on for months. Bearish action can be found…
We will have a bigger report over the weekend but had a couple of thoughts today. The market trades tight in here. There is a case for churning in where the market trades with no progress…leading to a change of near-term direction. There is also a case for this being the pause that refreshes before…
Let’s just add Tuesday’s action to the “ice is getting thinner” category. We have outlined for you how many names, how many sectors and how many countries are getting in trouble. Under the weight of all this, eventually, the popular indices follow suit. Remember, we have not had a 10% correction in more than 2…
