With 94% of the market's companies having reported last quarter's numbers, the third quarter earnings season is all but over - what we've got isn't going to change much as the last 6% report (and they won't finish reporting until closer to the end of calendar Q4). Ergo, this will be our last look at the S&P 500's Q3, from an earnings perspective. The almost-final tally? The S&P 500 earned $31.57 last quarter, which is just a penny less than the $31.58 it was on pace to report the last time we looked at the data on November 8th. It's also 10% better than the year-ago bottom line. That said, it's also worth mentioning the 2018 outlooks were peeled back a bit. With the new numbers and forecasts in hand, the S&P 500 is now valued at a trailing P/E of 21.8 and a forward-looking P/E of 18.5. Both are… more
For weeks now we've followed the slow but increasingly certain recovery of crude oil prices. Though in the minority in terms of our mostly-bullish outlook, the call has panned out. Indeed, it got even more certain as of last week, when an old resistance line became a new support line. While this is bullish in and of itself — and... more
– Cryptocurrency, like gold and other alternative assets, has a place in an investment portfolio – By Atulya Sarin, MarketWatch Is bitcoin a fraud, a fad, an asset, or the currency of the future? Detractors explain its meteoric valuation by suggesting the former; proponents, the latter. It is important to understand what bitcoin (BTCUSD) is before deciding if its valuation... more
As of Wednesday of last week, the market was teetering on the edge of a long-awaited (and a little overdue) correction. The bears just couldn't deal a death blow though. By Friday, the bulls were back in the same buying mood they've been in since late August. Nevertheless, the stumble did verify that the market is vulnerable now that it's... more
If you were waiting on a dip to buy into a rally you've mostly missed — or don't expect to end anytime soon — the past few days may have been it. That's the call from BigTrends.com's chief and President Price Headley anyway, who told CNBC's Street Signs host Martin Soong on Wednesday evening "I think this pullback is an... more
– Falling correlations could make life easier for active managers – By Ryan Vlastelica, MarketWatch [Editor's note: The S&P 500 closed down 0.55% on Wednesday, following the Wednesday morning publishing of this commentary. That sizeable loss ends the very streak Vlastelica was discussing. The point, along with several others, are still worth making though.] If there’s one word that would... more
Yikes. After a pretty darn good year and a surprisingly strong rally since early September, the market's finally hitting a headwind. In fact, if the market were to shut down the trading week right now (Wednesday), it would mark the worst seek for the S&P 500 since mid-September, forcing all the recent buyers to rethink their recent bullishness. As much... more
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