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Archives by Year:
Week Starts Brightly
With the weekend behind us traders had a chance to digest last week’s gains, and the decision was to keep on going. The Russell 2000 had the best of the action with a 1% gain. The index cleared both 20- and 50-day MAs with resistance up around 1,268 and a chance to challenge the ‘bull […]
S&P 500 Snapshot: Another Day, Another Record Close
The S&P 500 traded close to its opening price for the first 90 minutes of the day and then drifted higher to its modest gain of 0.30%. Another day, another record close for the index … in fact, its third consecutive record close. After 94 market days, the index is up 3.41% for the year, […]
Gold Daily And Silver Weekly Charts – Pushing Up Against Resistance
The next option expiration for the precious metals on the Comex will be next Tuesday the 26th. Gold is pushing up near overhead resistance. It would be useful if it could break out again ahead of June. Have a pleasant evening.
Finally An Uptrend?
The US equity markets open the week on a positive note as both the Dow and S+P 500 market indices have made a new all time high. There have been numerous failed attempts to break out above this trading range over the last six months as US stocks hover around the break even level for […]
Stop Bleating About Crumbling Infrastructure
The Amtrak tragedy has predictably elicited another round of jawing about the allegedly “disgraceful” condition of America’s “infrastructure”. If Washington only had the courage to spend and borrow itself silly—-why the nation could leap out of its growth and jobs rut in a single bound. Or so goes the claim of mainstream politicians and pundits. A recent jeremiad by […]
J.M. Smuckers – Chart Of The Day
The Chart of the Day belongs to JM Smuckers (NYSE:SJM). I found the stock by sorting the All Time High list for the stocks with the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 3/25 the stock gained 3.52%. The J.M. Smucker Company, headquartered in Orrville, Ohio is […]
The Last Two Times This Happened, Stocks Crashed
Are stocks disconnected from reality? Probably, according to Tobin’s Q, a rather elegant way to assess equity valuations developed by the late Nobel Prize-winning Yale economist James Tobin. Put simply, Tobin’s Q compares the total value of stock prices with the value of underlying assets such as plants, inventory, and equipment (i.e. replacement costs). Add […]
Why Are Economists’ Predictions So Damn Awful?
Economists have bought into the transitory soft patch thesis of the Fed, hook line and sinker. Please consider Economists’ Forecast: Here We Grow Again. Forecasters in the latest Wall Street Journal survey estimated the U.S. economy contracted at a 0.3% pace in the first quarter because of hits from winter weather and the West Coast port […]
SP 500 And NDX Futures Daily Charts – Early Summer Snoozer
Stocks had an upside bias all day on a slim, lazy trade. Watch the geopoliticals. Have a pleasant evening.
E Greek To Me?
“It’s all Greek to me”, commented subscriber PM about my note yesterday. So for those not familiar with current stock market jargon, here are some definitions of alpha and beta. Technically speaking, they are both ratios used as statistical measurements for calculating returns and risk against a benchmark. They are part of the Capital Asset […]
