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Archives by Year:
Russell 2000 Rebuffed By 200-day MA As S&P And Nasdaq Hold Gains
It was inevitable that markets were going to slow down after the recent surge during the week. The biggest reversal came from the Russell 2000 (IWM) which posted a classic inverse reversal hammer, intersecting the 200-day MA, followed by a down-day today to complete a “bearish evening star”. As in any candlestick pattern, the significance […]
Dow Snaps Win Streak With Modest Loss
The Dow snapped a four-day win streak on Thursday, as Walmart’s (WMT) grim forecast weighed on the blue-chip index. A wider-than-expected drop in import prices for October contributed to today’s pessimism, while lackluster manufacturing data did little to ease concerns. Meanwhile, both the Nasdaq and S&P 500 settled just above breakeven, despite struggles for energy and tech stocks . OIL PRICES […]
Brutal Banking Crisis To Launch Gold And Silver
Image Source: Unsplash After the banking crisis earlier this year there’s been a relative sense of calm in the sector. There have been some smaller failures since then, but so far we’ve avoided a wave of collapses like what we saw throughout March and April.But does that mean the coast is clear and the worst is […]
NAHB Housing Sentiment And Traffic Head Toward The Post-Pandemic Low
Data download courtesy of Wells Fargo and the NAHB, chart by MishThe HAHB Hosing Market Index for November 2023 is one of the worst on record. Only the Great Recession housing bubble as shown in the chart below was substantially worse.Understanding the IndexThe NAHB/Wells Fargo HMI is a weighted average of three separate component indices: Present Single-Family […]
25th Hour
Image Source: Pexels A movie that I’m quite fond of is 25th Hour, a Spike Lee joint about three friends in post-9/11 New York City. One of them, played by Barry Pepper, is a bond trader. There is a scene with him on the trading floor, where he’s long a bunch of Treasury bonds in front of a […]
Q3 2023 U.S. Retail Scorecard – Thursday, Nov. 16
Image Source: Mike Mozart, Flickr To date, 153 of the 205 companies in our Retail/Restaurant Index have reported their EPS results for Q3 2023, representing 75% of the index. Of those companies that have reported their quarterly results, 68% announced profits that beat analysts’ expectations, while 5% delivered on-target results and 27% reported earnings that fell […]
No Bad Sentiment In The Northeast
The past couple of weeks have seen some relief in mortgage rates and a rebound in weekly mortgage applications as a result, but that positive housing market development didn’t show per the latest reading on homebuilder sentiment. The NAHB’s Housing Market Index dropped to 34 in November and is only three points above the low […]
Are Semiconductors Nearing Cup With Handle Bullish Breakout?
The Semiconductors Sector ETF (SMH) has been a market-leading sector for nearly two decades.And after a brief swoon, the Semiconductors (SMH) are heating up once again.Today’s chart is a long-term “monthly” view of the SMH. As you can see, this market-leading sector has been in an uptrend channel for the past 20 years!After a brief pullback into […]
Recession Watch: Wow, That Was Fast
One of the many surprising things about the Everything Bubble was the way interest rates kept rising. A lot of observers (including this one) believed that in each successive bubble, the “terminal” interest rate — that is, the rate that starts to break things, causing a crash — would be lower because the amount of […]
USD/JPY Falls Back Towards 150.50, Pares Away Mid-Week Gains
Yen. Image Source: Pixabay The USD/JPY slipped to a Thursday low of 150.30 after a batch of bad US data soured risk appetite. The pair slipped from the 151.40 region as the USD/JPY whipsaws through the trading week.US Initial Jobless Claims for the week into November 10th missed the mark, showing nearly a two-year high of 231 […]
