The S&P 500 is down 5.5% YTD including today’s rally. Perhaps not too surprisingly “defensive” sectors are faring the best in the negative environment. Utilities are the strongest performers YTD followed by Consumer Staples and Healthcare. Financials have been the … Continued
Bon Voyage! Oops, wrong picture… Onward and upward!
The S&P 500 has now bounced off of 1125 four times. Is this the bounce that finally leads to a breakout?
Last month I pointed out how Gold has a tendency to spike and then move sideways back toward the 200 day moving average. After moving sideways for a bit gold has taken a big tumble, but in the context of the … Continued
Last week, the Fed released its flow of funds report, which provides the most comprehensive view of asset and debt holdings within the US economy. One of the more important tables included is the one which details the balance sheet … Continued
Following yesterday’s rout, the S&P 500 has turned negative on a year over year basis. It’s been quite a ride since last time this year. Click to Enlarge
Besides the death cross, another technical formation that tends to get much media love is the head and shoulders pattern. It seems that we have just such a pattern forming today. Aside from the fact that 1125 represents a resistance level … Continued
Despite the announcement of operation twist today, if recent seasonality holds, rates may be more likely to move higher rather than lower in the coming months. In ’09 and ’10 rates moved in almost the exact same pattern that they … Continued
Even though the S&P500 is still 66 points above the annual low set in August, regional banks are making new lows. The regional bank ETF, KRE hit a new low today. Unlike the KBE which includes the larger money center … Continued
With operation twist, the long bond is up about 3 points today, sending the yield to 3.04%. While that sounds extreme, the 30 year has been at 2.6% as recently as 2008. The 10 year at 1.87% is well below … Continued