Will everyone now become an armchair technical analyst? I have opined several times it appears market trading has been co-opted by the machines. To hell with earnings and valuations as it is now all about trend lines and moving averages....
It is getting really ugly. Oil has been decimated down over 23% since its June apex. In many regards it looks like oil futures are in a complete collapse as Brent crude is at the lowest level since December 2010....
Equities staged the biggest rally of the year following the release of the Minutes from the September FOMC meeting. The Minutes stated “growth might be slower than they expected if foreign economic growth came in weaker than anticipated.” The Fed also commented the rising value...
Equities declined sharply as the IMF cut its outlook for global growth and German industrial production fell, the biggest decline since 2009. Selling accelerated late in the afternoon after several moving average lines were violated. In my view, the proverbial machines co-opted trading once these...
In my view the employment report was relatively strong in many dimensions. Both private sector and non-farm payrolls were considerably higher than expected and so were the revisions from August. The jobless rate fell to 5.9%, the lowest rate since July 2008’s level of 6.1%. ...
Today is jobs Friday and the last jobs report before the mid-term election. What will it suggest? Will the data disappoint for the second consecutive month or will it surprise on the upside? In my view the markets have discounted either scenario....
Are the large capitalized issues finally rolling over like their small cap brethren? Yesterday was an ugly day as all indices came under considerable selling pressure. The catalysts for the selloff include a slowdown in Europe perhaps the result of the Russian Ukrainian invasion, potential...
Equities fluctuated while the dollar extended a four year high and oil led a drop in commodities as the economic data suggested a possible delay in a change in monetary policy and Russia was considering capital controls to stem that country’s exodus of funds....
Is Dodd Frank yet another example of regulation that has created the next crisis? Dodd Frank changed the landscape in which the fixed income market operates, a market that is about 10 times greater in size and importance than the equity market....
Many times I wrote the markets historically decline between 5% and 20% in the months heading into the midterms. It is also widely known September is historically the worst month for equities....