We warned you a week ago that stocks had rallied too far, too fast. Last week they paid the price. The S&P 500 lost 0.4% of its value over the course of the prior five trading days. That’s not a lot. In fact, the market reclaimed much of what it had last on Tuesday following an alarming inflation report (more...
That’s five in a row. With last week’s 1.4% advance, the S&P 500 is up 7.0% for the five-week stretch. The market is just rolling. On the other hand, with last week’s romp the index is now bumping into pretty-well-established technical resistance. It’s going to take something pretty special “umph” to keep things going. That’s even more the case in...
That’s five in a row. With last week’s 1.4% advance, the S&P 500 is up 7.0% for the five-week stretch. The market is just rolling. On the other hand, with last week’s romp the index is now bumping into pretty-well-established technical resistance. It’s going to take something pretty special “umph” to keep things going. That’s even more the case in...
Not every day was a winner last week. In fact, Wednesday was a decided loser after traders panicked over the Fed’s decision to dial back its dovishness. (That is to say, a spate of interest rate cuts isn’t a foregone conclusion.) Once they had a chance to regroup though, Thursday’s and Friday’s buying carried to the S&P 500 to yet-another...
Not every day was a winner last week. In fact, Wednesday was a decided loser after traders panicked over the Fed’s decision to dial back its dovishness. (That is to say, a spate of interest rate cuts isn’t a foregone conclusion.) Once they had a chance to regroup though, Thursday’s and Friday’s buying carried to the S&P 500 to yet-another...
The market mustered another win last week, although this is the weakest of the last three weekly gains. The S&P 500 only finished the week up 1.0%, peeling back from its highs. The NASDAQ Composite peeled back even more. The volume behind the move wasn’t exactly staggering either. Traders are once again starting to doubt there’s a great deal more...
The market mustered another win last week, although this is the weakest of the last three weekly gains. The S&P 500 only finished the week up 1.0%, peeling back from its highs. The NASDAQ Composite peeled back even more. The volume behind the move wasn’t exactly staggering either. Traders are once again starting to doubt there’s a great deal more...
It was touch-and-go for the better part of last week, with stocks unable to break above long-established technical resistance. With a roaring start though, the market finally punched through on Friday. Now that it’s over this hump, the bulls have a much easier road ahead. That doesn’t change the fact that stocks are still technically overbought and arguably overvalued. The...
It was touch-and-go for the better part of last week, with stocks unable to break above long-established technical resistance. With a roaring start though, the market finally punched through on Friday. Now that it’s over this hump, the bulls have a much easier road ahead. That doesn’t change the fact that stocks are still technically overbought and arguably overvalued. The...
After stocks broke their eight-week win streak two weeks ago, the market recovered pretty well last week. Just don’t overreact or read too much into it. Neither of the indices actually hurdled an important technical level. There’s still a chance the stock market could tumble back into more serious trouble. On the flipside, both indices are back above a different...
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