Since the February 11th low up until this Monday, if we just use small-caps to measure the pulse of investor mood, it has been risk-on. From that low through the intra-day high this week, the Russell 2000 rallied north of … Continued
U.S. small-caps are rallying. Rallying hard. Harder than several of their peers. Since the intra-day low on February 11th, the Russell 2000 small cap index is up just north of 14 percent, also breaking out of 1035. This level approximates … Continued
QQQ, the PowerShares Nasdaq 100 ETF, is showing signs of fatigue. Off the February 11th low through last Friday’s intra-day high, the ETF rallied nearly 10 percent in 11 sessions (Chart 1). Yes, this preceded a 17-percent drop since December … Continued
U.S. stocks began 2016 on the wrong foot. That is an understatement. In fact, major indices peaked intra-day on December 29th (2015). Using that high, the S&P 500 large cap index through the intra-day low on January 20th lost 13 … Continued
Gold bugs may need to step up to the plate. Off the December 3rd intra-day low of $1045.4 through February 11th spike high of $1263.9, spot gold surged 21 percent in just over two months. Not bad for an asset … Continued
SPY, the SPDR S&P 500 ETF, has essentially gone sideways since January 20th. That was the first low of the year after a 12-session, 11-percent waterfall drop. A subsequent eight-session rally had the ETF rally to $194.58, before it again … Continued
Spot gold this week took care of not one but two crucial resistance. First, it broke out of a descending trend line going back to April 2013. That trend line persistently repelled gold’s rally attempts, the most recent of which … Continued
The top five weights in QQQ, the Nasdaq 100 ETF, are: Apple (AAPL), 11.4 percent; Alphabet (GOOGL, formerly Google), 9.2 percent (both A and C); Microsoft (MSFT), 8.5 percent; Amazon (AMZN), 5.8 percent; and Facebook (FB), 4.5 percent. The tech-heavy … Continued
To say that energy stocks are back in favor will be an exaggeration, but they have perked up of late. Off the January 20th intra-day low, XLE, the SPDR Energy ETF, has rallied north of 16 percent. That is in … Continued
Stocks are rallying. In fact, off the intra-day low last week, the S&P 500 index (1906.9) is already up 5.2 percent. Last Wednesday’s hammer reversal on the index looks similar to the ones on October 15, 2014 and August 24, … Continued