The S&P 500 was up ~38 points today, but the markets are still quite nervous. Watch the 4600 level as near-term resistance as our model sees this as a key short-term resistance level and if we can’t push past this level we could see the market start to break down with a potential near-term low […]
Stock turned lower to close a choppy session at the start of another busy week for corporate earnings and fresh economic data, as investors continue to assess the Federal Reserve’s path forward for monetary policy. The S&P 500 declined after posting its best weekly rise of the year last week. The Dow traded little changed, […]
The S&P 500 managed to clock in another solid gain today, its fourth consecutive after the big sell-off in January. Better than expected earnings from Alphabet were the main driving force for today’s gains, but disappointing jobs data and a big earnings miss after the close from Meta (previously Facebook) could cause a setback tomorrow. […]
With all the chatter about inflation it is interesting that the Atlanta Fed’s first two forecasts for 2022 call for 0.1% growth, far below what mainstream economists are saying. The Atlanta Fed is unique in that their forecasting method only uses available data, and not projections for future data used by most other economic forecasts. […]
Since 1950, the market followed its January performance 85% of the time. As we can see on the chart, this January is a down month, suggesting the year will be a down year. But interestingly, in the previous two years the January performances were down, but the performance for the rest of the year were […]
The market continues to struggle making any gains and seems to still be very concerned with the US Fed plans to start tightening and raising rates. We continue to see wide volatility, with the market unable to hold intra-day gains, nor does it want to close on the lows. Intra-day we are seeing investors selling […]
Equity markets had another down day, unable to rally above yesterday’s close, suggesting the near-term bottom is not likely in just yet. Tomorrow is the Fed meeting where Powell will take questions from the press and he will likely try to calm the markets, but must also address the inflation problem. The Fed is really […]
In our last Trend Letter, we noted that the key support level for the S&P 500 was 4200 and if it hit that level, we could expect a solid rally. Today, the S&P 500 dropped close to that 4200 level at 4222, before rallying to close the day at 4410. Watch the 4435 (first red […]
From MarketWatch… Stocks finished higher for the first time in three sessions but for some bulls the downtrend may feel longer, amid a slide characterized at times by stomach-churning swings and white-knuckle climbs higher. Investors have been on edge because the omicron-inspired jitters have resulted in some erosion of upward trend lines for the main […]
(From CNN)… Stocks dropped on Tuesday as volatility resumed after a brief rebound earlier this week, with investors contemplating the impacts of a new coronavirus variant and new comments Federal Reserve Chair Jerome Powell. The S&P 500, Dow and Nasdaq declined. The S&P 500 dropped about 88 points, or 1.90% on Tuesday. US crude oil […]