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…
SellāSide 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 outcomesā¦
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 isnāt in disaster mode. Redbook same store sales growth increased from -1.2% to 1.5% in the week of September 19th. Thatās a nice improvement, but on an absolute basis, itās 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…
Persistent Selling, You Worried Yet?
Strong selling early in the session before tech rebounded and sent the NASDAQ closing slightly higher on the day. However, all signs are pointing to the selling not being over. Here's what to look for the rest of the weekā¦
Partial Selloff In Tech, S&P 500 Nears Correction Territory
Another Selloff The stock market declined again on Friday as it fell through the technically important 50 day moving average. As you can see from the chart below, the streak of trading days above the 50 day moving average ended at 103. This was one of the highest streaks in the past 13 years. Obviously,…
Spending Only Down Because Of Labor Day Holiday
Consumer Spending Rolling Over? Some think the consumer is doing fine. Only the data points that donāt adjust for the Labor Day holiday show recent weakness. Seasonal adjustments need to be made or you will be caught missing the obvious. Weāre just trying to note the trends, not focus on small moves each week. As…
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