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
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
Finally the market is showing signs of a little weakening. Last Friday all three indices made a new high at open, then it just didn’t have the energy to keep pushing higher to pass the open high in the morning. It broke down in the afternoon session and closed near the low of the day. […]
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. You […]
2019 finished with a great bang! The President achieved his goal of lower interest rate in 2019. At the height of the stressful time of the trade war negotiation, the Fed stepped in to lower interest rate three times in 2019. Now the Fed will stay on the sidelines unless inflation picks up. The phase […]
The stock market was a quiet melt up last week. Last Friday all three indices made new highs and had the heaviest volume (more than 65% over 50-day volume average) since the early October low. This could be a climax top because the ultimate top might occur on the heaviest volume day since the beginning […]
