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“Traders are riding momentum in everything.” So writes Amrith Ramkumar in the Wall Street Journal . “You don’t want to fight the Fed, the world’s central banks or the world’s governments,” says Thomas Martin, senior portfolio manager at ...
With the consumer accounting for nearly 70% of economic activity, this past week's jobs report came in on the disappointing side of the ledger. With state governors continuing to pause some reopening of their respective states, it is not a surprise that the jobs report disappointed. Claims on ...
Market peaks tend to be a process rather than an event, and these processes tend to involve a decline in the share of individual stocks participating in the rally, as well as signs of weakness across other measures of risk appetite. We have highlighted the deterioration in the uniformity of th...
Negative Divergences: Big Warning For Equity Investors Investors know that since the COVID crash, the equity trade has been very bifurcated between the “haves” and the “have nots”. The former has included big cap growth stocks, including most tech sectors, as we...
These are not numbers that are consistent with a robust rebound. In fact, they don't indicate very much of one at all. IHS Markit's flash PMIs for July 2020 instead look way too much like the sentiment indicators in Germany and Japan . Though they are now back near 50, both services and man...
There has been a growing concern over Technology stocks as investors "Party Like It's 1999." While no two periods are the same, the outcomes often are. For longer-term investors, if we are amid another "Tech Bubble," the biggest challenge is navigating it and "living to tell about it." ...
Led Zeppelin's great tune notwithstanding, the S&P 500 earnings patterns for Q3 and Q4 2020 and into early 2021 remain positive. The "forward 4-quarter" estimate actually rose for the third week in a row this week, when in normal times (although nothing is really normal about 2020) there...
Higher, at least for now. Then lower, as the market completes its full cycle. Optimists believe that the pandemic will disappear and life will soon return to normal. Pessimists also believe that this is true. They just disagree on the timing. Few can argue that the optimists are in contr...
Investment thesis In spite of the tremendous underperformance of European indexes versus the S&P 500 over the last ten years, there are now good reasons to consider exposure to the Stoxx Europe 600 over the flagship American index. In fact, the pan-Europe index is more defensive...
By Jill Mislinski The latest Conference Board Leading Economic Index ((LEI)) for June was up 2.0% from the May final figure of 100.0. Here's an excerpt from the technical notes : The Conference Board LEI for the U.S. increased for a second consecutive month in June, fueled mostly by ...
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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...