Hammer Time!
At the lows last Friday, the S&P 500 was just about 8.00% off its mid-October highs without the mercy of any real meaningful bounce on the way down. As such it was just a matter of time until many of the weak hands and sell stops were washed out so that a more sustainable bounce […]
Juicy Trade Setup In Apple
It’s all over the news; ‘Apple down 25% from its 2012 highs.’ Buy and sell recommendations from brokers around the world based on the latest quarterly, weekly, daily or 5 minute iPad sales estimations are enough to confuse even the best of us. I am here to offer a pure high probability technical trade idea […]
Abercrombie & Fitch Set For Further Gains
Specialty clothing retailer Abercrombie & Fitch (ANF) yesterday had a massive one-day rally after the company raised its forecast for the year and also exceeded estimates for the third quarter. One interesting note was that international sales were up a very strong 37% in the third quarter, which likely sparked new enthusiasm for the stock. […]
Beazer Homes Diverging From The Pack
While the broader U.S. stock market yesterday remained flat for the day, there were significant pockets of weakness in important groups of stocks. One such pocket was the home-builder stocks, which was led lower by Beazer Homes (BZH) after the company announced its fiscal fourth quarter earnings results. The majority of home-builder stocks however don’t […]
Are You Just Now Getting Bullish On Stocks?
Are You Just Now Getting Bullish On Stocks? If so, as long as you realize that risk/reward in the near-term is no longer as good as it was two months ago you are in good shape. To be fair however, there remains upside potential in stocks. A little perspective goes a long way: The S&P […]
S&P 500: Our Next Upside Target
As long as today’s lows on the S&P 500 hold we see 1480 as the next upside target. Will we get a pop and drop once that target is hit? Too hard to tell yet, but the air gets thinner with every 10 points or so of upside.
Morning Thoughts August 28
Good Morning First off a little cautionary note; on average the last week of August is slow going in the stock market. The key word there is ‘average,’ which certainly doesn’t make it a rule. As we have come to learn, anything can transpire in a centrally planned market and thus we would be wise […]
Starbucks near important medium-term support
Coffee retailer Starbucks (SBUX) at one point this year, just at the downturn point of broader equity indices in April, was up around 34% for the year. Fast forward 3.5 months and the stock as of today is almost flat for the year and from a technical point of view has broken some important support […]
Equities holding on to a thread: Global risk assets signal caution
While the major U.S equity indices are solidly in the positive for the year, signs all around us indicate that it may be in increasingly difficult for these gains to hold. From awful looking equity index charts in Europe and Asia, inverted yield curves in Spain to ultra-low bond yields in the U.S. and rising […]
A look at world markets – where we stand
While we’ve had a good amount of economic data points out this week likely the most watched print is out tomorrow (Friday) morning: the May employment report. Meanwhile we remain in an environment that is littered with headlines and rumors, any of which can quickly move major stock indices 1%. Monetary policy hawks and doves […]