Congratulations to the bulls. A week ago today, the market was on the precipice of a pretty significant meltdown. Thanks to last week's strength, stocks are at least out of immediate danger. On the other hand, the indices have yet to clear the one hurdle they need to clear to make a reasonably convincing bullish case. Namely, the S&P 500 failed to fight its way back above the 50-day moving average line despite a couple of respectable attempts late in the week. Such a breakout is still within reach, but until that line is cleared, we can assume nothing. We'll look at the upside and downside below. First, let's slice and dice last week's and this week's economic announcements. Economic Data Last week was actually a pretty big week, economic news-wise. It was an especially important week for real estate... and the news was good. The party started with last… more
If anyone thought the real estate market was slowing down as a precursor to a contraction, they were wrong… at least based on March's evidence. The National Association of Realtors reported last month's existing home sales pace on Friday morning, saying home-buyers purchased already-built houses at an annualized pace of 5.71 million. That was a ten-year high. The surge came... more
By Annie Pei, CNBC While markets regained some ground on Thursday after a few tough sessions, trader Todd Gordon believes the stock rally may soon stall. The TradingAnalysis.com founder says that the S&P 500's recent close below its 50-day moving average on April 13 suggests that the market will soon start trading in a sideways range. "That's the first close... more
Strong sentiment for yellow metal is a contrary sign By Mark Hulbert, MarketWatch Gold is suffering from too many believers. A decent rally for the yellow metal may therefore need to wait for at least many of gold’s enthusiasts to throw in the towel. The current sentiment picture stands in stark contrast to what prevailed in mid-March, the last time... more
In the grand scheme of things, it could have been worse for Verizon (VZ) shareholders following a disappointing first quarter report. On the other hand, it should have been better. For the quarter ending in March, telecom giant and wireless leader Verizon earned 95 cents per share on revenue of $29.8 billion. The pros, however, were looking for a profit... more
In the grand scheme of things, considering JPMorgan & Chase (JPM) and Citigroup (C) had already posted rock-solid first quarter numbers, it comes as no surprise that Bank of America (BAC) did the same. What was surprising, however, was just how good they were, and how near-flawless they were. The company made progress in every possible aspect of its business,... more
Late last week, (relatively) new President Donald Trump suggested the U.S. dollar has been too strong for too long for the U.S. economy's own good, and was in need of a pullback. The premise seems confusing at first. The term 'strong' is a word Americans like to use in describing all aspects of its society, even if they don't fully... more
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