As we approach “earnings season”, we once again see the US S&P 500 at another all- time high above 2950 and our main coach, The Bullish Percent for the NYSE, reverses back up into X’s and is currently right at the mid-way point – 50%.
We have certainly seen some demand for stocks come back to market for the last week or so reversing much of the May downturn. We are starting to develop a much smaller trading range as we look to see if we have blue skies ahead or the potential for some storm clouds to develop. R
Just like September last year, we made another new all-time high in the S&P 500 in May around 2950 but could not hold it. Like last year, we have broken through support at 2800 again and are currently looking down at 2700 –a Point & Figure sell signal. A sustained reversal back above 2800 would be welcome news at this time.
As the North American markets moved back to their old highs from last year, we see an old theme play out – resistance...
Are we going back to the top? It’s been around 6 months since the S&P 500 peaked in September at around 2940 and subsequently descended to the 2350 level on December 24, 2108...
We continue to see a very impressive move from the bottom of the markets at the end of December as we try to get back to the top of the mountain. Back in December, the S&P 500 bottomed around 2350...
December was a month for the record books but most don't prefer to experience such awful records. As we enter the New Year, we certainly see some green shoots as our main indicator, the Bullish Percent...
As we mentioned at the beginning of October, the US stock market has been climbing a wall of worry since January this year and even went to new all time highs in September - seems like such a long time...
As we approach the U.S. mid-term elections in two weeks, we notice a continuation of deterioration in our main indicators. The NYSE Bullish Percent reversed down in early October...
Since the end of January, the US stock market has been climbing a wall of worry as interest rates have been rising, oil prices have been rising and tariffs have become part of the conversation. Last week...
As we move into the summer months when stock markets can experience some lazy days, we continue to see equity stock markets move ahead in a number of areas...
We saw the volatility increase significantly in the month of February following some very good earnings reports from many Corporations. As a result, there was some significant downside movement in many...