Market Recap for Thursday, January 31, 2019 Wall Street surged again on Thursday, buoyed by additional strong earnings reports and surprisingly strong forecasts by a couple of influential names. Facebook (FB, +10.82%) and General Electric (GE, +11.65%) were two of the leaders on the S&P 500.... READ MORE
Market Recap for Wednesday, January 30, 2019 Wall Street had much to digest yesterday. There was fresh jobs data as the January ADP employment report was released. The news was much better than anticipated. There was the Apple (AAPL) earnings report from Tuesday evening. While the numbers reported were mostly... READ MORE
Market Recap for Tuesday, January 29, 2019 It was a bifurcated and trying day on Wall Street. Bifurcation isn't necessarily a bad thing as some indices will simply outperform others on certain days and short-term trends in that regard can mostly be ignored. But one problem throughout this... READ MORE
Market Recap for Monday, January 28, 2019 It seemed like the bears let a perfect opportunity slip right through their fingers yesterday. Caterpillar (CAT, -9.13%) reported their latest quarterly earnings before the bell and they weren't pretty. Despite beating revenue estimates, CAT posted EPS well below estimates... READ MORE
Market Recap for Friday, January 25, 2019 Our major indices rallied strongly on Friday, with 9 of 11 sectors rising to support the move. Only two defensive sectors - utilities (XLU, -1.37%) and consumer staples (XLP, -0.40%) failed to participate in the advance. Leading the charge was materials... READ MORE
Market Recap for Thursday, January 24, 2019 Semiconductor stocks ($DJUSSC, +5.10%) soared after a few key earnings reports in the group came in better than expected. Xilinx (XLNX, +18.44%) and Lam Research (LRCX, +15.70%) were two of the best performers, but their results lifted much of the... READ MORE
Note I'm traveling today so my article will be abbreviated. Market Recap for Wednesday, January 23, 2019 It was a fairly volatile session on Wednesday as U.S. indices opened higher, but quickly fell fairly deep into negative territory before rallying in the afternoon. Only the small cap... READ MORE
Market Recap for Tuesday, January 22, 2019 Energy (XLE, -2.18%), communication services (XLC, -2.07%) and industrials (XLI, -2.07%) all fell more than 2% on Tuesday as Wall Street had its first significant retreat since the day that Apple (AAPL) warned. Late day buying cut into losses as... READ MORE
Market Recap for Friday, January 18, 2019 Continuing anticipation of a trade deal with China appeared to fuel very solid stock market action on Friday as all of our major indices pushed higher, as did all 11 sectors. The Dow Jones and S&P 500 led the charge, gaining... READ MORE
Analysts meet with the management teams of companies and then return to their firms and either buy or sell based on the information they gather. It's the primary reason why technical price action precedes fundamental information. If you understand the dynamics on Wall Street, you're in... READ MORE
Market Recap for Thursday, January 17, 2019 Word that the U.S. would ease Chinese tariffs as negotiations wear on helped to reduce stock market stress and resulted in an intraday surge in U.S. equity prices on Thursday afternoon. Quick profit taking followed, but strength resumed into the close... READ MORE
Market Recap for Wednesday, January 16, 2019 Late-day selling cut into some of Wall Street's gains, but the bear market rally continued. It's left many wondering whether we're still in a bear market. The technical answer to that question is yes, we're... READ MORE
Market Recap for Tuesday, January 15, 2019 We saw an across-the-board advance led by healthcare (XLV, +1.80%), communication services (XLC, +1.66%) and technology (XLK, +1.51%). All of our major indices jumped as NASDAQ shares soared by 1.71%. The S&P 500 rose 1.07%. After... READ MORE
Market Recap for Monday, January 14, 2019 The losses on Monday were not huge, but there did seem to be selling in most areas of the market. 10 of 11 sectors finished lower as financials (XLF, +0.69%) was the only sector to finish in positive territory. That sector'... READ MORE
Market Recap for Friday, January 11, 2019 Healthcare (XLV, +0.33%) and consumer staples (XLP, +0.29%) paced a bifurcated market on Friday as the Russell 2000 eked out a 2 point gain. Despite rallying most of the session after a poor start, the Dow Jones, S&P 500... READ MORE
Market Recap for Thursday, January 10, 2019 There was both good and bad action on Thursday. Yes, the bulls should be excited as a short-term price and trendline breakdown did not result in panic or a Volatility Index ($VIX) that surged. Also, all of our major indices remained above their... READ MORE
Market Recap for Wednesday, January 9, 2019 Crude oil ($WTIC, +5.18%) continued rolling higher on Wednesday, buoyed at least in part from its positive divergence. Recently, I discussed the likelihood that crude oil prices would move back into the $50-$54 per barrel range and you can see from... READ MORE
Market Recap for Tuesday, January 8, 2019 It was another broad-based rally on Wall Street with 10 of 11 sectors finishing higher. Small caps powered ahead 1.53% to lead the action, but the Dow Jones, S&P 500 and NASDAQ gained 1.09%, 0.97% and 1.08%... READ MORE
Market Recap for Monday, January 7, 2019 Crude oil prices ($WTIC, +1.17%) rallied on Monday, helping energy (XLE, +1.49%) continue its recent surge, but the day clearly belonged to consumer discretionary stocks (XLY, +2.26%) as retail (XRT, +3.10%) and home construction ($DJUSHB, +2.43%) were among... READ MORE
Market Recap for Friday, January 4, 2019 Friday was a HUGE day for the bulls as nonfarm payrolls came in well ahead of expectations (312,000 vs 180,000), which in no way reflects what the stock market has been saying since Q4 2018 began - that we were heading... READ MORE
Before I look ahead to what we might expect in 2019, let me rewind for a bit and check out last year's forecast. Here's a recap, summarizing a few of my "expectations". I've graded my predictions with a slight curve. Feel free... READ MORE
Market Recap for Thursday, January 3, 2019 Just about every market-related discussion since Wednesday's close has centered around Apple (AAPL, -9.96%)....and for good reason. AAPL is a U.S. stock market icon. Some might argue it is THE icon. When they lowered their revenue guidance substantially... READ MORE
Market Recap for Wednesday, January 2, 2019 On a day filled with hope, as traders rang in the new year on Wall Street, the biggest news came after the market closed as Apple (AAPL) warned regarding its upcoming quarter. During the trading day, we saw resiliency for one of the... READ MORE
Market Recap for Monday, December 31, 2018 December 2018 was a rough month to end a very difficult Q4. It was very unusual in terms of historical perspective as we're accustomed to seeing mostly solid action in early December followed by a Santa Claus rally into year end.... READ MORE
Market Recap for Friday, December 28, 2018 Let's start with the bright spots from Friday's market action. The more aggressive NASDAQ and Russell 2000 ended the session in positive territory, gaining 0.08% and 0.46%, respectively. They both closed higher for the third consecutive day... READ MORE
Market Recap for Thursday, December 27, 2018 The final two hours on Wall Street yesterday was quite the finish. After languishing deep in red territory throughout much of the session, the bulls took complete charge into the close. The Dow Jones, down more than 600 points just past 2pm EST,... READ MORE
Market Recap for Wednesday, December 26, 2018 After gapping higher on Wednesday, our major indices retreated initially to lose all of its opening gains. The Dow Jones traded approximately 300 points higher right out of the gates, but within 90 minutes had lost those gains and was down 80 points.... READ MORE
Market Recap for Monday, December 24, 2018 It was an abbreviated session on Monday, but the losses were not abbreviated. The Dow Jones lost another 653 points, or 2.91%, while the S&P 500, NASDAQ and Russell 2000 posted losses of 2.71%, 2.21% and 1.95%... READ MORE
Market Recap for Friday, December 21, 2018 Growth stocks remain under significant pressure as the stock market is quickly repricing them based on bear market rules. While I believe the sudden drop in so many critical areas simultaneously told us of the impending S&P 500 breakdown and ensuing... READ MORE
Market Recap for Thursday, December 20, 2018 If you haven't noticed, I use a lot of weather analogies in describing the stock market. It's by design as forecasting the stock market has a lot of similarities to forecasting the weather. Meteorologists are often scrutinized as weather... READ MORE
Market Recap for Wednesday, December 19, 2018 This was a Fed day that could have lasting damaging effects. Fed Chair Jerome Powell and his band of cronies decided to ignore the one piece of data that's probably the best leading indicator - the U.S. stock market. The... READ MORE
Special Event At 4:30pm EST today, I'll be joining John Hopkins, President of EarningsBeats.com, for a special "2019 Stock Market Outlook" webinar. It's a FREE event where I'll be discussing likely market direction in 2019 and areas of the market... READ MORE
Market Recap for Monday, December 17, 2018 Every component stock in the Dow Jones Industrial Average fell on Monday as the index dropped another 500 points. The S&P 500 lost major closing price support at 2581, crude oil ($WTIC) threatened to break below $50 per barrel, small caps... READ MORE
Market Recap for Friday, December 14, 2018 The U.S. stock market suffered another big blow to its current 9+ year bull market on Friday. Culprits for the selling included Johnson & Johnson (JNJ, -10.30%) in the healthcare space (XLV, -3.37%), easily the worst performing sector, Adobe Systems... READ MORE
Not a whole lot. I guess there are three primary differences. First, there's the percentage drop as corrections are generally considered to see a drop of less than 20%, while bear markets tend to see declines well in excess of 20%. Second, a bear market tends to last... READ MORE
Market Recap for Thursday, December 13, 2018 The U.S. stock market attempted to stage rallies on Thursday, initially in the morning session and then again in the final hour. But astute technicians that follow more than the headline Dow Jones and S&P 500 numbers realized it was... READ MORE
Market Recap for Wednesday, December 12, 2018 The opening gap higher on Wednesday added to the recent stock market advance and the bulls stretched those early morning gains into the afternoon session. But much of those intraday profits faded as the session wore on and an across-the-board advance really didn&... READ MORE
Market Recap for Tuesday, December 11, 2018 Volatile action on Tuesday resulted in a bifurcated market. The NASDAQ managed to cling to gains at the close, while the Dow Jones, S&P 500 and Russell 2000 saw early morning gains turn into losses by the close. Leadership came mostly... READ MORE
Market Recap for Monday, December 10, 2018 Yesterday was significant for one very important technical development. The February 2018 low close of 2582 was within a whisker on Monday as the S&P 500 hit an intraday low of 2583 before rallying strongly. Technology (XLK, +1.38%) led the... READ MORE
Market Recap for Friday, December 7, 2018 Friday marked the end of a rough day and a rough week for U.S. equities. Strength was found in utilities (XLU, +0.37%), the only sector to end in positive territory to close out the week. Gold miners ($DJUSPM, +2.36%) and... READ MORE