After the October-December rout, US stocks rallied big in January and February-to-date. Several data points such as consumer and investor sentiment followed suit, but their rise has been muted. For longs, this could mean there is room for more strength, … Continued
US home sales peaked in November 2017, homebuilder sentiment in December 2017, and housing starts in January 2018. From its January 2018 intraday high through December low, ITB collapsed 39 percent. It is trying to bottom, but currently in no-man’s … Continued
On the weekly chart, SPY remains grossly overbought, but near term there is room to rally – duration and magnitude notwithstanding. Options can help. US core PCE (personal consumption expenditures) increased 1.96 percent year-over-year in May – essentially two percent. … Continued
First-quarter earnings are coming in strong, but stocks are stuck in a rut. There is room to rally near term, with tons of overhead resistance. One common complaint among the bulls is that US stocks of late have failed to … Continued
Regardless whether or not it is solely related to the outcome of the November 8 U.S. presidential election, several data points have seen an uptick since. Stocks rallied, with the S&P 500 large cap index up nearly six percent between … Continued
XLY, the SPDR consumer discretionary ETF, acts well. It just broke out to a new high, as did its top three holdings – Amazon (AMZN), Home Depot (HD), and Comcast Corporation (CMCSA). These three make up 12.7 percent, 7.3 percent … Continued