Uptrend Influence Still Lingers
March 8, 2023 Good morning, All eyes were on Fed Chair Jerome Powell yesterday morning as he began giving his prepared speech to the Senate Finance Committee. Markets expected a reiteration of last Fed meeting’s higher-for-longer Fed narrative, steady 25 basis point (bps) hikes at the next few Fed meetings in March, April and maybe […]
Big Week
March 6, 2023 Good morning, The S&P 500 Index (SPX) ended up +1.90% last week, its first up week in the last four. I think that puts February’s correction in the rearview mirror. Asset markets (stocks, bonds, commodities, currencies) remain in a kind of myopic phase, where the only driver of return expectations seems to […]
The Big Question
March 3, 2023 Good morning, The market’s pause continues. The S&P 500 Index (SPX) closed yesterday +.28% above last Friday’s close. Unfortunately, that is not enough of a buffer to assume we’ll get an up week on the SPX this week. This week does follow three down weeks in a row, so the bulls could […]
Short One
March 1, 2023 Good morning, Not much to say this morning, markets seem to be on pause. The S&P 500 Index closed last night precisely where it ended last week. The same goes for bond yields. Futures are up a whopping .25% pre-market this morning and most of that can be attributed to surprisingly good […]
Leaning Slightly Bullish and In Line with Cycles Chart
February 27, 2023 Good morning, The shortest month of the year is coming to an end and none too soon. The S&P 500 Index (SPX) had its worst week since December and was down -2.67% last week. February has taken back about half of January’s gains. A -4.5% correction on the SPX is not a […]