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Technically Trapped Last week , we discussed why we were taking profits in positions that had gotten egregiously overbought for the second time this year. To wit: "For the second time in a single year, we have begun the profit-taking process within our most profitable names. Apple (AA...
The "forward 4-qtr" estimate actually moved higher this week versus last week, coming in at $143.25 versus $142.98 from last week. This covers the period Q3 '20 through Q2 '21. The big change looking at IBES by Refinitiv's "Earnings Scorecard" was the improvement in expected Financial sector...
Value (investing) is dead. Long live value investing. Such certainly seems to be the mantra as investors continue to pile into growth stocks while rationalizing valuations using methodologies which historically have not worked well. However, as with all things when it comes to investing, be ...
Inventories dropped during the Covid-19 recession. DR. BILL CONERLY USING CENSUS BUREAU DATA Businesses cut inventories again, according to the latest report on manufacturers, wholesalers and retailers . Total sales of merchandise was off even more, which seems to justify carrying les...
Resilience under pressure The U.S. stock market continues to perform, with the S&P 500 close to positive for the year and still within striking distance of new all-time highs. This has come despite the onset of the worst economic contraction in at least a century. U.S. stocks are trading...
Great post by Gary Morrow (@garysmorrow) on the positive outside day in the Dow 30 today, versus the downside outside day yesterday in the Nasdaq 100, a very ominous sign. The expectation was we'd see more selling in the Nasdaq and Nasdaq-100 today and it didn't happen. Morrow highlighted ...
I still believe the recent economic data is experiencing a "V-shaped" recovery, and the equity market seems to concur. So many times though, we do note the market and the economy do not always react to the same information. With the S&P 500 Index's 1.34% gain pn Tuesday, it is now up .40% ...
A high percentage of people think the economy is early cycle versus still in a recession, which may be contributing to the buoying of stocks, Ed Harrison said during today’s Real Vision Daily Briefing. Harrison is in agreement that the recession that began in February is over, ...
In this week's "Technically Speaking," the "Golden Cross" arrives, but are the bulls safe? As noted two weeks ago, the 50/200 dma crossover is historically bullish for equities. However, with markets facing one of the worst earnings declines on record, could overly exuberant investors be w...
The S&P 500 inched up to its highest close since the second week of June 2020, but is still slightly over 201 points shy of the record high of 3,386.15 it recorded on 19 February 2020. On the other hand, it has risen 947.64 points since hitting bottom at 2,237.40 back on 23 March 2020. ...
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NEW YORK , Aug. 28, 2020 /PRNewswire/ -- Direxion continually reviews its product range to ensure it's meeting the needs of our clients. Based upon a recent review, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close 15 ETFs (each, a "Fund" and c...