Stocks Always Bottom On The Same Day?
Moderate Selloff On Tuesday Stocks fell modestly on Tuesday. At times in the trading session it seemed like the stay at home trade was beating the reopening trade. However, by the close everything was down. It was an across the board modest decline. S&P 500 fell 48 basis points, the Nasdaq fell 29 basis points,…
Stimulus Negotiations Set To Ramp Up
Fiscal Stimulus On The Docket On the day before the ADP report, we got another update on the consumer. By the way, the current estimate for September job growth in the Friday BLS report is 900,000. Investors moderately concerned this estimate is too high, but there will be over 600,000 jobs added. Moving on to…
The Bulls and Bears Debate - Stocks and Markets in Play Now
Though tonight is debate night, we're taking stock of the market now and what key levels continue to influence our trades. In tonight's video, Corey highlights expectations and setups in Crude Oil, Gold, along with index futures and the top bullish trending stocks making new highs squaring off against the top downtrending stocks making new…
Banks Snapback After Being Tarred and Feathered
Banks Are Very Hated Bank stocks received a lot of hate over the weekend because of their bad performance last week. Price determines sentiment. There hasn’t been anything more grueling than owning European or Japanese banks in the past 14 years. In the past 2 years, U.S. banks have also done poorly. As you can…
COVID-19 Caused Stay At Home Stocks To Win Big
Update On The Consumer September labor report is this Friday. Consensus calls for 850,000 jobs added. Merrill Lynch is calling for 800,000 jobs added with the unemployment rate falling to 8.1%. We are testing how far the labor market can improve without the leisure and hospitality industry. Sports are starting to let some fans in…
Do You Want to Sell this Rally?
Markets scream higher without the monsters of tech today. The broad based rally which saw every stock in the S&P 100 up just means traders are piling into the futures markets. Here's what else to look at to decide whether or not you want to sell into this rally…
October Set To Be Volatile Because Of COVID-19 News
Tech Leads The Market Higher The stock market rallied sharply on Friday as big cap tech led it higher. A bubble in tech isn’t going to go away until interest rates rise and the COVID-19 crisis ends. It would help value stocks and potentially boost yields if a stimulus is passed. Personally, It's unlikely tha…
Record Low Inventory Of New Homes
Strong Core Capital Goods Orders August durable goods orders report had very tough comparisons, but still had positive monthly growth which is a plus. New orders were up 0.4% which followed 11.7% growth which was revised up by 0.5%. That missed the consensus of 1.5%. Ex-transportation order growth was 0.4% as well which missed estimates…
It is Not a Bottom Until Big Tech Says It Is
Nasdaq outperforms in another sketchy trading week Massive daily ranges--Monsters of Tech did not lead the selling--Expected Move--Volume--Volatility Underperforming sectors are... well, underperformingIWMXLFXLE Is the dollar the new volatility indicator? VVIX falls under 100, yes really! Opportunities in VIX Bounce and Fade is back! SPX Expected Move--last week-- 83.11 (expected move)--next week-- 87.57 (wow really)
Stimulus Back On The Table?
Wild Thursday Trading There were major moves on Thursday as the stock market tried to shake off its September correction. Trading action was wild. The stock market started down, rallied into the afternoon, and then fell before the close. From trough to peak, the S&P 500 rose 2%. It closed up 30 basis points. Momentum…