With this month's newsletter, I feel that we only need to look at one chart to get a good feel for the current stock market environment. I believe that for most of 2021 the market has been in a stealth correction. This may surprise you given that major indexes have...
We are excited to announce the launch of our newly designed website. Our goal is to provide a website that more accurately describes our services and provides a portal for some additional content that will be published soon. We love the new look. Tell us what...
While we are likely at the beginning of a long-term (Secular) period of inflation, in the near term we seem to be experiencing deflation as seen in financial markets. I know that this may come as a surprise given that the price of consumer goods is rising and all the...
The S&P 500 Index broke out to new all-time highs recently (see chart below). This is a bullish market event. That being said, the advance occurred in combination with poor market breadth. Meaning that there are a large number of stocks within the index that are...
A Long-Term View of the Market Technically, not much has changed over the past month. In our May Market Update, I wrote about how long-term the market is extended and short-term it's consolidating. That is still the case. Below is a long-term chart of the S&P 500....
Long-term, the stock market is in an uptrend but extended as noted in the chart below which goes back to 2008. Note how every major pullback has occurred when the index has reached the top of its up-trending channel. I have notated these tops with a red box. This does...
Stock market conditions are generally positive; however, not all indexes/sectors/industry groups are going up in unison. Below is a year-to-date chart of the S&P 500 and despite a couple of large drops, this index is in a confirmed uptrend. The Nasdaq 100 Index...
In our last two newsletters, I highlighted how I felt the weight of the technical evidence was suggesting that market risk was elevated; however, the trend of major market indexes was up. A month has past and this is still the case. What does this mean? The stock...
In last months newsletter I wrote: "Long-term the market continues to look bullish. However, market internals are suggesting that the odds of short-term weakness are increasing." Long-term, the market is still in an uptrend. In the chart of the S&P 500 below,...
A Comparison to Last Year At the beginning of last year, the stock market was advancing to new all-time highs just like it is doing currently. The difference this year is that market internals are positive and support a bullish market bias. Last year, market internals...
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