The S&P 500 gained 3.15% in August after a shaky start that saw the index decline as much as 1.3%. It’s the best month since February and slaps a bullish outside candle on the monthly chart.
The final hours of European stock trading for the month were dramatic with major indexes falling 0.75% to 1.00% and then rebounding close to unchanged in a surge of last-minute buying. German DAX -0.2% French CAC +0.1% UK FTSE flat … Continue reading
The S&P 500 is down 9 points to 1991 and is now slightly lower on the week. Here’s why: The market is pricing in a fresh round of Russian sanctions after the escalation of the conflict in Eastern Ukraine The … Continue reading
The S&P 500 is 0.95 points higher to 2001.05. The index closed above the 2000 level for the first time ever yesterday and has risen in 10 of the past 13 sessions. Month-end flows are a driver today. We could … Continue reading
The S&P 500 has slid back to 1996 from as high as 2001.95. The index has gained in 9 of the past 12 trading days. I think stocks and the US dollar look vulnerable in the near-term. Expectations are for … Continue reading
The S&P 500 continues to make fresh highs at 2000.95 but other signs in the market aren’t nearly as sanguine. Treasury yields remain in the doldrums but the clearest sign might be strains in the carry trade. NZD/USD hit the … Continue reading
The S&P 500 hit 2000 for the first. Meanwhile, Yellen is still acting like the US is in crisis.
The S&P 500 climbed 9 points to a record 1998 shortly after the open. The index is up nearly 5% since August 8.
The stock market has risen in 8 of the past 10 days and is battling for another day of gains. The index is at 1992 after falling as low as 1984. A weekly close above the previous record high of … Continue reading
The S&P 500 closed up 6 points to an all-time record 1992.38. Since the bottom on August 7, the index is up 4.6%. Here’s what I wrote that day. The market is conditioned to fear Fed hikes but I think … Continue reading