The Santa Claus Rally in the stock market has typically been defined as a rally that occurs between Christmas and New Year’s Day. Well that didn’t happen this year or last year or the year before.
In December 2014 the S&P 500 (SPX) was down 1.1% then chopped up and down in January ending the month down 3.1%.
In December 2015 the SPX was down .84% then got whacked pretty good in January ending down 5.1%. (at one point it was down 11.3%) Continue reading
The bulls are running on Wall Street but the breadth of the market in the move since November 4 has been weak. Friday was a great example. The DJIA was up 142 points with advancing and declining stocks dead even on the day…1496 up, 1529 down.
So this fifth wave up from March 2009 began in February and is now 10 months old. In March 2017 this market will be a Fibonacci 8 years old. We are at the top of this country’s greatest bull market.
This final cycle wave V started in 1982 with a huge upside explosion. As of Friday’s close the DJIA is up 18,979.93 points or 2,543% from the August 12, 1982 close of 776.92. Continue reading
This week the semiconductor stocks got hit very hard on Thursday. The supposed catalyst was indications that Apple was cutting back on iPhone 7 production. But many tech stocks are also getting hit.
Some say it is a rotation into sectors like finance, infrastructure and energy. But some of this is also related to global commerce and sourcing. Fears of a trade war with China are not helping stocks like Apple. Continue reading
Yes the market is setting new highs again on Friday and for the week. But be very careful. This market is pushing the envelope.
In today’s video I look at the Dow Jones Industrial Average (DJIA) daily and weekly charts. The DJIA has pushed to the top of its current pattern. What’s next? At what point does the picture change? Continue reading
Okay, I had enough. I’ve looked in stores. I tried on all kinds of t-shirts…no luck. It appears Under Armour stopped making my favorite t-shirt.
Style 1217194. It’s soft, 95% cotton, 5% elastane. I really like this shirt. I have a bunch of colors and wear them all the time. Continue reading
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