US equities rallied Friday, as an earnings beat from Apple helped stocks push their way past a week of Wall Street misses for Big Tech. The S&P 500 gained 2.5%. The Dow Jones Industrial Average bounced more than 800 points, or 2.6%, to a two-month high, as it also notched a fourth-straight week of gains […]
Markets tanked again today after US employment data showed 263,000 new jobs, leaving the US labour market conditions very tight as the unemployment rate dropped to just 3.5%. This crushed any hopes the Federal Reserve will pivot anytime soon on its aggressive rate hiking path. As a result, the S&P 500 dropped 104.86 points or […]
Martin was the guest on This Week in Money with Jim Goddard and they covered a wide range of topics. Below are notes from that interview. To listen to the interview, click here. The interview starts at 13:30. Q. What is the market sentiment? Wow…how about frightful, panicked? We had the Fear/Greed index at Extreme […]
Long-lasting, quick-charging batteries are essential to the expansion of the electric vehicle market, but today’s lithium-ion batteries fall short of what’s needed — they’re too heavy, too expensive and take too long to charge. Solid state batteries are a promising technology aiming to solve these issues, but the technology itself has a few problems that […]
As noted to subscribers in Sunday’s issue of the Trend Letter, the the 50-DMA (blue wavy line) would be initial support for the S&P 500. We also noted that if that level did not hold it would open the door to retest the July lows (bottom green dashed horizontal line). After falling through the 50-DMA […]
The Trend Letter’s Martin Straith was the featured guest on Mike Campbell’s Money Talks podcast on Saturday. In the interview Martin gives his views on what is driving the markets currently and where he sees things moving from here. Topics include the stock market trend, how the US dollar drives markets, and how he sees […]
This afternoon the Federal Reserve announced its latest policy, raising interest rates by 0.75% for the second consecutive month. Afterward, Fed Chair Jerome Powell answered a number of questions from the press gallery. First, Powell was asked whether he agrees with the White House that ‘we won’t be in a recession.’ He then replied… ‘We […]
For those wanting to jump in and ‘buy the dip’ be mindful of our constant warnings that ‘bear market rallies typically fail to make new highs, and instead often make new lows.’ According to Bank of America ‘The average peak to trough bear decline = 37.3%, average duration 289 days; history is no guide to […]
The S&P 500 dropped 123 points or 3.25% and is now close to testng the 50% Fibonacci retracement level from the rally from Mar’20 to Jan’22. Remember our warning all through this year… bear market rallies tend to be sucker rallies, usually failing to reach new highs, and instead make new lows. We are neutral […]
The S&P 500 dropped back into a bear market within the first 30 minutes of trading today. The index is now down over 20% from its January high, marking the lowest level since March 2021. The Dow plummeted 2.79% while the Nasdaq fell 4.8%. Recession fears are growing amid crippling inflation and people are pulling […]