Stocks fell on Tuesday causing the S&P 500 to slice below major support (Sep’s low of 2119 & Oct’s low of 2114). It also briefly broke below the psychologically important 2,100 level before buyers showed up in the afternoon. There is a lot of technical damage in the major indices. Over night, three major central…
Market Update: Stock futures are relatively quiet ahead of Wednesday’s open as investors digest Tuesday’s sell-off and wait the Fed to wrap up its latest meeting this afternoon. Gary’s Thoughts: Fed day. Anything is possible especially with markets somewhat oversold here. Keep in mind, lots of blow-ups with this morning no different. DXCM,PAYC,PXD,X,ADPT,AGN,CERN,DATA for starters….
We know we have a maniacal Fed meeting tomorrow. We know we have an election next Tuesday that looks like as of this juncture, anything is possible. But absent the Fed announcing another round of QE, our thoughts of the market deteriorating continues. In fact, on a daily basis, the underlying action continues to worsen. While…
Stocks were quiet on Monday which was the last trading day of October. All the major averages ended lower in October with the S&P 500 and Dow Jones Industrial Average experiencing their third straight monthly decline. News was relatively quiet as investors continued to digest the latest round of mixed earnings data and continued watching…
Market Update: Stock futures are higher ahead of Tuesday’s open as investors wait the Fed to wrap up its meeting on Wednesday and continue to digest latest round of earnings data. Gary’s Thoughts: Dollar is indeed sinking here with commodities with little gaps to the upside. A weaker dollar, in the past, has been a…
By Gary K More deterioration…simple as that. Most are blaming Friday’s swoon after a strong open on the Clinton news and gather they are correct. But we do not rationalize. Just remember, markets have been deteriorating for weeks. And now: The Russell 2000 indeed broke the support we outlined for you at about 1200. In…
“TWO POST PRESIDENCIES!” By Gary Kaltbaum- October 30,2016 The following is the Wikipedia (not wikileaks) section of President Jimmy Carter’s post-presidency. We have disagreements with many of his policies, especially what seems to be his continuous anti-Israel policy as well as the coddling of some nefarious leaders around the world but we will leave that…
Market Update: Stock futures are quiet ahead of Monday’s open as investors look forward to the next Fed meeting on Wednesday and the latest round of earnings data. Gary’s Thoughts: Futures up a wee bit after an election news-moving Friday. Continue to be patient. Economic Calendar: Personal Income and Outlays 8:30 AM ET Chicago PMI…
Stocks opened higher but closed lower on Thursday as investors digested the latest round of economic and earnings data. It was another busy day for earnings with shares of Service Now (NOW), Twitter (TWTR) and Tesla (TSLA) among the companies that rallied after reporting numbers while shares of Lending Tree (TREE), O’Reilly Automotive Inc (ORLY,…
Market Update: Stock futures are a little higher ahead of Friday’s open as the Street digests the latest round of mixed earnings data. The latest reading on GDP is slated to be released at 8:30am EST. Gary’s Thoughts: S&P flat…NDX down because Amazon down $45 from yesterday’s close. Google up $8 from yesterday’s close. Bond…
