We will have our award winning, in-depth weekend report for you on Sunday, but in the meantime: This is the place the major indices need to hold as the Dow, S&P and NASDAQ were defended at the 50 day average. The issue is that markets were much higher early in the day. Many growth leaders…
Stock Market Overview: Stock futures are up mildly as investors digest Monday-Wednesday’s steep selloff. Oil prices and other commodities remain under severe pressure and remain in focus. The Federal Reserve is scheduled to meet next Wednesday and investors believe they will raise rates by a quarter point. The Fed has been telling us they are…
Here is the good news! On a near-term basis, markets are extremely oversold so bounces could be in order. Not sure there is much more in the way of good news because: The DOW was up 200 Wednesday and gave it all back and more. Leading the DOW up early was the worst ares as…
Many of the areas that have been hit hard past couple of days are near-term oversold so suspect some bouncing soon but the big picture has not change. In fact, the diverging narrowness (not sure what that means) worsens. While the Dow was down over 160, while commodities got whipped again…while advance/declines were again horrid…while…
Up 168…down 158…down 252…up 370…down 117 after being down over 200. Welcome to the nonsense. But for us, these recent wild swings are less important than the big picture and that remains the narrowness in the market, that if not broadened out, will eventually come back to haunt the market as it always does. Nothing…
“CONTINUES TO BE LESS THAN MEETS THE EYE!” December 7, 2015 By Gary Kaltbaum garyk.com @GaryKaltbaum Fox News Business Contributor Our trusty Abacus tells us that the S&P 500 was up a whopping 1.58 points this past week. If you were asleep for the whole week, you would’ve thought nothing happened. Not true. On Tuesday the…
We would like to put lipstick on this pig but can’t. As we entered today’s action, not much had changed. 65%-plus of the market continued to be bearish while the markets had rallied up. Amazingly over the past few days, new yearly lows were equal to or more than new yearly highs. That tells you…
The European Central Bank cut its deposit rate to a maniacal -0.3%. The cut means banks in effect must pay more for the ECB to hold their money. Futures market s here have given up their earlier huge gains…but don’t blink. As we write this, the German Dax is down 340 points. Ladies and gentlemen,…
“SO WHAT CHANGED” By Gary Kaltbaum December 3, 2015 garyk.com @GaryKaltbaum Fox News Business Contributor So let’s presume Janet Yellen makes the gargantuan move of taking the fed funds rates from 0-1/4% to 1/4%. When we wake up the next day: We will still be at 1/4% fed funds. We will still have printed…
Monday sells off during market hours. Tuesday gaps up getting back all of Monday’s losses. Wednesday sells off during market hours. Thursday gaps up getting back all of Wednesday’s losses. See a pattern? Yesterday, Yellen blah blah blah! Today… Europe will again maniacally ease with lower rates and more printing of money. There is your…
