Divergences & Resistance
Monday, March 18, 2019
As the S&P 500 pushes through a key resistance line, sentiment and fundamentals have moved in opposite directions.
Technicals Over Fundamentals
Monday, March 11, 2019
A lot of key economic data to be released this week could fill in some gaps, but the underlying technicals continue to point higher even as the market pulls back from resistance.
Monday, March 4, 2019
The employment data probably needs to work off some noise, but it is the initial jobless claims that need to be watched as the S&P 500 revisits the 2,810 area. If the Consumer Discretionary earnings are an indication though, the S&P 500 will soon push through.
Monday, February 25, 2019
There has been little change over the past week with economic data still trending lower, but with the technicals and now the sector rotation pointing to higher prices ahead even as resistance nears.
Durable Goods - the Last Holdout
Tuesday, February 19, 2019
Industrial Production last week matched the weakness in other economic data and now the last holdout of strength is the delayed Durable Goods data to be released this week and next.
Production Remains Positive
Monday, February 11, 2019
Most of the key economic data continues pointing lower, but Industrial Production is not among them and may even slightly surprise to the upside.
Price Action Matters
Monday, February 4, 2019
Despite the large upside surprise in payrolls, economic data and earnings continue primarily trending lower; and sector rotation and earnings favor the recessionary sectors. Still, the price action is telling a different story.
Earnings Trending Lower
Monday, January 28, 2019
While there is a wide margin of error, the consensus estimates for a pullback in nonfarm payrolls appear reasonable... and earnings continue to trend lower.
Tuesday, January 22, 2019
A market pullback would not invalidate a V-shaped bottom, but there are still missing signs as earnings continue to come down.
Monday, January 14, 2019
The breadth thrust indicates a rare V-shaped bottom in the S&P 500, but the macroeconomic data shows economic activity peaked and is trending lower - suggesting weaker earnings that could weigh on stock prices this earnings season.