Nasdaq Breadth Metrics Accelerate Losses
The Nasdaq had looked primed for a breakout but there was a trend breakdown last week. The index has returned to its base with a break in its 20-day MA; the 50-day MA is its next port of call. Technicals are mixed; On-Balance-Volume is still moving strongly in bulls favor, and I thought this would […]
Wall Street Pulls Back Before Election Day
Stocks fell the day before the 2024 presidential election, as investors wondered what impact a new administration will have on the market’s trajectory. The Dow dropped more than 250 points, logging its fourth loss in five sessions while the S&P 500 and Nasdaq also settled firmly lower despite several strong earnings reports. The 10-year Treasury yield […]
RACE: Nothing Sexier Than A Red Ferrari
I’m not much of a car guy but the one car I’ve always wanted is a red Ferrari. Besides for that, I’m happy if my car gets me from A to B without incident. A new Ferrari will set you back anywhere from a quarter to a half a million dollars. Obviously it’s a car […]
Past Elections Status Quo Means No Need For Woe
Scarier than Halloween, the current presidential election is causing people on both sides of the political aisle to be frightened by the idea of their candidate potentially losing. Uncertainty is generally petrifying to investors, resulting in downward pressure on stock prices, but with less than a week until election day, the stock market is providing […]
SMCI: Impending Doom Or A Massive Buy The Dip Opportunity
Image courtesy of 123rf.com After enjoying the value-boosting benefits of the AI hype, right alongside Nvidia (Nasdaq: NVDA) and other semiconductor stocks, Super Micro Computer (Nasdaq: SMCI) completely reverted to its December 2023 price level. Trading at $27.32 per share at the time of writing, SMCI stock shows 3% returns over a one year period, having dropped by […]
Volatility Hits Large Cap Biopharma: Active Rebalancing May Be Required
depositphotos VOLATILITY ROCKS LARGE CAP BIOPHARMA STOCKS Volatility in the market has finally shuffled the leaders in large cap biopharma : LLY and REGN. Healthcare stocks are down 3.57% MTD. Are they no longer a defensive play? Seasonality favors SMID caps for active traders: XBI. A bit of earnings and election jitters roiled the market last […]
Excluding Government, Year-Over-Year Employment Is Negative 9 Straight Months
Change in Employment, overall vs government, data from the BLS, chart by MishExcept where noted, charts in this post are from the BLS Household Survey. The unemployment rate is from the same survey.It’s important to not mix the Establishment Survey (Nonfarm Payrolls) with the Household Survey.Year-over-year comparisons are best done with Not Seasonally Adjusted (NSA) […]
S&P 500 Earnings Dashboard 24Q3 – Monday, Nov. 4
S&P 500 Aggregate Estimates and Revisions 24Q3 Y/Y earnings are expected to be 7.8%. Excluding the energy sector, the Y/Y earnings estimate is 10.6%. Of the 359 companies in the S&P 500 that have reported earnings to date for 24Q3, 76.6% reported above analyst expectations. This compares to a long-term average of 66.9%. The 24Q3 Y/Y blended revenue growth estimate is 5.0%. If the energy sector is excluded, the […]
Please Do Not Panic
Please do not let this election uncertainty throw you into a panic. You are a rational person and know that if you are wrong about who will win and what effect it will have on the stock market that properly placed stop losses can save your assets if you are wrong.Remember the disclosure I put […]
Gold May Face A Pullback Amid Strong Dollar
Metals have been in a strong uptrend throughout the year, with gold approaching the 2,800 area. However, metals are now reaching some extreme sentiment levels, so we wouldn’t be surprised if a significant pullback occurs. Interestingly, gold trended upward in October, even with a stronger dollar, but with the upcoming U.S. elections and US currecny […]
