Weak Jobless Claims - Tidal Wave Of Exhaustion Coming
Jobless Claims Rise Slightly Headlines at the stock market’s open said stocks were falling on a bad jobless claims report. After the stock market rallied, they needed to change their headlines. Given the recent decline in stocks, it's doubtful that this weak reading was enough to cause a decline. Then again, stocks can move for…
Here is the Critical Make or Break Level for Stocks going into Next Week
It's feeling like a repeat scenario where stocks fall, hold support, fall a bit more, hold that support and repeat, but each time we fall, the risk increases for a larger drop-zone event. In tonight's video, Corey highlights these critical levels in the SP500 (/ES) along with the 10 largest stocks by market cap, pinpointing…
There Is No Fear Among Tech Investors
Correction Nearly Hit (Tesla Crashes) With the S&P 500 falling 2.37%, it nearly hit correction territory as it is down 9.6% since its peak. In the near term, the market is oversold, but there are still bubbles in the tech sector. There was significant weakness in tech on Wednesday as Apple fell 4.2%. It’s now…
Manufacturing Making A Comeback
Slight Decline In Markit PMI Flash Markit PMI fell slightly in September, but this was still a pretty good report. Diffusion indexes measure how business is doing versus the last period. With the economy recovering, the comparisons get tougher. This explains why many diffusion indexes were very high right after the recession ended. Composite PMI…
Sell–Side Activity Becomes Heated
Markets sell off today down to the lower edge of the expected move for the 2nd time this week. Also, the S&P is within grasp of the 3211 gravity point. Tomorrow is a crucial day in the market. Here are a few possible outcomes…
Nasdaq 100 Already Up 5 Percent
Tech Leads The Market Higher On Tuesday Tech has recovered strongly from its Monday bottom. Fact that it is in a bubble has not impacted its returns yet. If this was a normal bull market, a greater than 10% correction would be enough for me to turn bullish. However, tech was in a bubble. If…
Consumer Looks Better Than Before
Slight Improvement In Chase Card Spending We got 2 new good data points on spending which suggest the consumer isn’t in disaster mode. Redbook same store sales growth increased from -1.2% to 1.5% in the week of September 19th. That’s a nice improvement, but on an absolute basis, it’s still very low growth. Ending the…
Stocks Step Back from the Edge of the Cliff... for Now
While some leading technology stocks tumbled into the drop zone beneath them, other stocks held key support as we see an early week bounce-back. In tonight's video, Corey highlights not just the tech stock update but also a couple uptrending stocks making new highs - along with a handful of stocks making new lows in…
Black Monday For Small Cap Value
Small Cap Value Tanks The stock market fell again on Monday. It started as a broad based decline, but then morphed into a huge decline for small cap value and a very large reversal for large cap value. For much of this correction in September, small cap value has outperformed. It gave up all that…
Is The Consumer In Trouble?
Consumer Running On Empty? Morgan Stanley came out with a new note that makes the point that the consumer is running out of savings to keep up its current spending. The consumer is about to be running on empty according to the chart below. As you can see, the personal savings rate has been dropping…