S&P 500 earnings are beating consensus estimates by a wide margin. Stocks, which had rallied massively into the season, are only trudging higher. Near term, they are likely to struggle to find positive catalysts. The 50-day, which is merely 2.5 … Continued
The 2Q earnings season has gotten off strong. Stocks, having already rallied big into it, yawned. This is coming at a time when sentiment remains effusive and some of the tailwinds potentially turning into headwinds. VIX’s monthly chart could be … Continued
Amidst continuation of aggressive accumulation of assets by the Federal Reserve and a trial balloon last week by Philadelphia Fed president of eventual tapering, large- and small-caps are going their separate ways – the former liking soft economic data and … Continued
Last week, equity bulls stepped up in time to save a rising 14-month trend line on the S&P 500. A similar trend line has been breached on the Nasdaq 100, which acts weak. It is just a matter of time … Continued
Last week’s excellent earnings results from five of the top six US companies were unable to lift equities, which had rallied big into the reporting season. With major equity indices extended on several timeframes, weakness could be brewing. The Nasdaq … Continued
After major financials reported their March quarter last week, blended estimates for S&P 500 companies were revised higher last week. But post-earnings reaction leaves much to be desired. Next week, the top six US companies – all tech – report, … Continued
The energizer bunny marches on. The S&P 500 rallied to a fresh high last week. This time around, the otherwise-laggard Nasdaq 100 joined in, meekly breaking out to a new high. Next week, the top six tech outfits are set … Continued
This week begins the 1Q21 earnings season. The S&P 500 rallied to a new high last Friday. Sentiment remains elevated. Unwinding is just a matter of time – whether it begins now or in a couple of weeks. The 1Q21 … Continued
The S&P 500 posted a new record last Thursday; otherwise a laggard this year and March in particular, the Nasdaq 100 too reclaimed its 50-day. Continued strength in tech should reverberate through the rest of the market, particularly market cap-weighted … Continued
Major US equity indices posted new highs last week, but only to reverse and give back those gains. By Friday, the S&P 500, the Nasdaq 100 and the Russell 2000 were all sitting on channel support. Bulls cannot afford a … Continued