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Good morning It was nice to see the markets bounce on Friday but it was on lite volume. Indexes have an awful lot of work to do in order to reverse the technical damage and signal an all clear for the bulls. The bears continue to be in control as we are below key moving averages in several sectors and major indexes. With earnings wrapped up and a new quarter or earnings just a couple weeks away we will be paying more attention to trade tariff fears, White House drama, and some economic data that will be reported in the upcoming week.
Read MoreWhen asked > What is your biggest trading ally? "Time is your friend; impulse is your enemy." Jack Bogle Equities markets had a rough week after the new Fed Chair raised rates and the Trump administration announced 50 billion in potential tariffs aimed at China which sparked fears of a global trade war. Earnings season has wrapped up for the most part and the markets will likely be driven by economic and political headlines. Technically we have some concerning developments
Read MoreNext week could be a big week for equities depending on the reaction from some cabinet moves being made by the Trump administration and the first FOMC meeting presser with Jerome Powell and potential for an interest rate hike. We have commerce secretary Wilbur Ross presenting before the house ways and means committee so there will likely be more tariff related news and headline risk. We end the week with the IPO market heating up with Dropbox pricing this upcoming week on Thursday.
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Read MoreMarkets had a nice bounce on Friday after a fairly rough week where the new Fed chair gave his semi annual state of the economy on the hill and the Trump administration announcing steel and aluminum tariffs that may be finalized sometime this week. If the tariff happens and we get some retaliation form other countries the fear of a full blown trade war ....
Read MoreWe finished out the week with a solid close on Friday after the release of the guidelines the new Fed chair will be sharing with the semi annual state of the economy report in front of congress. This could wind up being a market moving event depending on how the new Fed chair presents and how transparent he appears. We also have several economic data reports that could impact the markets as you can see below.
Read MoreHello friend, I hope you had a fantastic extended holiday weekend. This could be a defining short week for the markets in the near term. Why do I say that? Well, technically we are at some major resistance for several indexes on the daily. We have a big week of earnings geared towards consumer discretionary and retail names which will likely set the tone for those sectors. The technicals on several other key sectors are my main focus for this week. We may just have a constructive week of lite volume consolidation but if we have any high volume drops in the three key indexes/ sectors I am most concerned about, we could be in for a painful time ahead for the bulls in the near term.
Read MoreWhat a week we had as markets sold off for most of the week ending it with an ominous closing in the Dow down six hundred and sixty-six points on Friday. What does it mean? Is the bull market over? Is the strong economy going to cause a recession? Is the Fed going to be overly aggressive in raising rates and crush the economy? Is the Fed behind the curve on inflation? When and where will this end? Will the markets go down 10? 15? 20? 50 percent? These are all good questions and the reality is
Read MoreGood morning We have a huge week ahead for tech names and earnings but those aren't the only big names that we will be getting numbers from and as I look across the broad array of names reporting. I think this could be the most important week of the earnings season. With names like BA, MCD, UPS, PFE, XOM, CVX, AMGN, EA and GLW which all have ..
Read MoreHello my friend The Federal government is officially shut down. How the markets will react is anyones guess. I would imagine that if the shutdown lasts for an extended period of time it will impact the markets and they will struggle to maintain the bullish momentum. More importantly we have a significant amount of earnings from ...
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