Tag Archives: weekly cycle bottom

The Unknowables of Covid-19

In the last two weeks, the S&P 500 essentially chopped around the range established after the Fed nuclear option (buying junk bonds) announcement.  Underneath the three indices, there are vastly different performing sectors reflecting the new Covid-19 driven economy and the related stock performance.

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Possible Double Top in Play

After the S&P 500 hit 50-day moving average support, it staged an impressive rally to wipe out the entire loss from the coronavirus selloff.  All three indices made new highs last week.  It appeared to be that the market is discounting the long lasting economic impact from the fast spreading virus. 

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NASDAQ Index Finally Caved In

The recent tech led rally has been nothing but impressive.  The DOW index topped on Jan 17th, 2020, finally the S&P 500 and Nasdaq topped a week later on Jan 22nd, 2020.  Over the weekend, the coronavirus deaths news has been hitting the wire hard.  As we are writing the blog on Sunday evening around

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Abnormal Behavior in the Stock Market

The recent unrelenting rally is anything but normal!  The fundamentals don’t support the scale of the rally.  The S&P 500 earnings only grew 3% but the market rallied 30%+.  The most overbought stock is Apple.  The street analysts have been searching for all the reasons (service revenue, 5G, better iPhone 11

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Opportunity or Something Else?

Last Friday the entire world woke up to the news that the US killed a top Iranian military commander in airstrike in Iraq.  The futures fell hard initially overnight, but recovered half of the loss by the time the market opened on Friday morning.  The market chopped around on Friday without significant selling pressure. 

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