Posted at 11:45 AM, after the whoosh. Update at 5:15 PM The Macro Valuation level held by a slim margin. Now we have three days of data to digest, PPI, CPI, Retail Sales. The Marco total market valuation low of…Continue Reading →
We saw a fight at the double bottom of the data for the week of June 3 and Sept 30, and it held. This past week was one of a higher high and a higher low on the weekly S&P…Continue Reading →
Tomorrow’s employment numbers should set the stage for the battle. I will be looking for clues in the chart below where we look at the S&P vs the 2 yr note. The chart divides the S&P index by the 2…Continue Reading →
Just waiting for tomorrow’s U.S. employment number. I would expect a decent number, no big increase in unemployment. Also I believe we are beyond the Bernanke Economic Period where bad numbers were good for stocks and good numbers were bad…Continue Reading →
We are only into the third day of the retest of the June 16 bottom on the S&P. At the moment we still have the big money shorts and the technicians fighting this early move. The only technical number for…Continue Reading →
Good market action today as stable interest rates make a comeback, getting FED Funds rate up to 3.436 percent was an important final step. S&P will find resistance at 39.90 between now and the election. My guess is that an…Continue Reading →
That is probably all that we need to know today. Everything else has been on the market setup has been covered over the past three weeks.
Updating our sector sort numbers for a little perspective this morning. First a couple of comments, the low of the total market valuation chart that we shared on 9/27/22 and showed the bubble had been punctured was pressed yesterday with…Continue Reading →