Is there anything the bears can do to stop the bullish train? It certainly doesn't look like it. The market roared (again) last week, shrugging off the glimmer of weakness that reared its head on Thursday to end the week at a record high close... and just a hair away from another record high. If nothing else, it's a market marvel. The S&P 500 is now up 10.6% since the end of October, and is up 12.8% since the early November low, making this one of the biggest (and fastest) uninterrupted rallies ever. Something's got to give soon, or does it? The good news is, a ceiling we well defined last week. That, coupled with the simple fact that the market s overvalued and overbought, could mean a sharp pullback is finally in the cards. Nevertheless, though meltups are rare, they can and do happen. You don't want to step… more
If you're excited about the 9.6% rally gold futures have dished out since their late-January low, don't get too excited just yet. The big test is yet to come. That lies ahead at the $1262 level, which at its current pace gold could be testing by the latter part of next week. The chart of gold below tells the tale. ... more
Snapchat slated to have the highest price-to-sales ratio of any major U.S. IPO By Mark Hulbert, MarketWatch Simple math is all you need to conclude that Snapchat’s upcoming IPO is an incredibly risky bet. That’s because the company’s sales will have to grow at a blistering pace in order to support the price at which it is currently slated to... more
An evening star reversal pattern and negative money flow suggest the stock price is headed lower. By Robert Moreno, TheStreet.com Shares of Alibaba Group Holdings (BABA) have not participated in the broader market's four-day rally, and the divergent price action and the direction of money flow suggests further downside. There are two short-side strategies, let's take a look at the... more
By Alan Farley, Investopedia AT&T Inc. (T) got kicked out of the D.J. Industrial Average in March 2015 to make room for Apple Inc. (AAPL) after the tech icon split seven for one in 2014. It’s performed much better than its replacement in the last two years but still, hasn’t cleared 2007 resistance in the mid-40s. Fortunately for shareholders, that... more
Market tops are usually characterized by stubbornly held bullishness, but that’s not what we’re seeing today By Mark Hulbert, MarketWatch The bull market has received a new lease on life from a most surprising source: stock-market timers. They have done so by turning remarkably cautious. It’s surprising, and bullish from a contrarian perspective, because market timers typically become more bullish... more
The Trump train continues to chug along, with last week's forward progress inspired by renewed chatter of impending tax cuts. The timeframe and details remain unclear, but the mere promise of tax relief was enough to inspire a strong finish to the week. The S&P 500's close of 2316.1 was 0.8% higher than the prior week's closing value. There's a... more
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