Afternoon Update: More Confirmation of Consolidation Trend Lines
The averages are trading near session lows. SPX -0.6%, Dow -0.5%, Transports -0.6%, NDX- 0.7%, Small Caps -1.3% While not...
Early Update – Consistent With Consolidation
11:37 a.m. ET The October Producer Price Index reflected rising inflation at the wholesale level. That will stir concerns about...
Afternoon Update
Price candles showing a loss of momentum for the near week-long knee jerk reaction to the election have shown fading...
Semiconductors (SOX) Testing 200-Day
2:51 pm ETSOX (daily) w/ 200-day sma. To pivot down from the right shoulder with some confidence, I’d estimate SOX...
Consolidation Time, Or?
1:41 p.m. ET This morning’s CPI report was pretty much on the screws of expectations, except airfares and rental inflation...
Afternoon Update
In yesterday’s Daily Wrap I pointed out the more focused view on Value stocks over Growth, but also mentioned that I...
Market Update – The Value Over Growth Dynamic is Correcting, While Yields Price Out Fed Rate Cuts Ahead of CPI
1:44 p.m. ET Tomorrow’s CPI seems to be driving the bond market/higher rates and creating headwinds for the stock market....
Afternoon Update
Nasdaq-100 is looking likely to post a bearish Engulfing candle after Friday’s Star (loss of momentum) candle. NDX (current daily)...
Early Update – Dow & Small Caps Lea With Value Stocks, S&P and NDX lag With Growth Stocks, Tech and Semis
1250 p.m. ET Tonight I’ll break down different presidencies going back to Clinton and including Trump’s 2016 win; what the...
Index Futures Off Earlier Highs as Treasury Futures Gain
9:38 p.m. ET At my first look of S&P futures this morning, they were up +0.45%. By the Early Update...
Afternoon Update
Most of the averages came off session highs. All of the Mag-7 stocks with the exception of Tesla (TSLA +8.2%)...
Part of Kennedy’s Platform in a Trump Administration?
Here’s the video cued up, of Robert F. Kennedy talking about legalizing marijuana and psychedelics with some form of supervision,...
Early Update – Pot and Psychedelic Stocks?
1226 p.m. ET The stock and bond markets trade mixed. The averages are mostly higher with some hints of the...
Couple of 3C Charts
As I wrote yesterday (post election), “Two primary themes likely are long inflation & short duration.” “I’d think that we...
FOMC Decision & Presser
Today’s Federal Open Market Committee (FOMC) decision was not expected to be surprising — and it wasn’t. The FOMC voted...
Market Update – Follow-Through, Rotation & FOMO,
1:18 p.m. ET This may sound contradictory to some degree, but we have a mix of follow-through of yesterday’s gains,...
Afternoon Update
Price action has gotten a little better than this morning with the averages adding some cash session gains. The S&P...
Early Update
1238 p.m. ET We’re just getting the initial knee-jerk reaction to the Trump victory this morning. I suspect we’ll see...
Election Night Update
9:51 p.m. ET Looking at asset classes, the moves tonight are very positive for Trump. Of course it will be...
Early Election Night Look
7:56 p.m. ET I think we all know that election night results can change quickly. I’m not going to cover...