CPI Adjusted S&P 500
As the S&P 500 continues to approach its former all time high, below is a long term chart of the index adjusted for CPI. While we’re not too far from the 2007 highs on a nominal basis, the index is … Continued
QE Effect on S&P 500
After QE3’s announcement in mid September there was some concern that the effect of QE on the market had eroded because the S&P 500 proceeded to sell off by 5%. It could be true that QE is losing its efficacy, … Continued
How Long Does the Average Bull Market Rally Last?
As of today, the bull market which began in March of 2009 is 1,422 calendar days old. Over that whole period there have been nine drawdowns of greater than 5% which segment the bull market into ten periods of bull … Continued
SPY vs. TLT
2013 is beginning the year with a strong dichotomy in asset class returns. While the S&P 500 is on pace to have its best January since 1997, the 10 year yield has moved higher by 20 bps. Expressed in more … Continued
S&P 500 Unchanged Since 2000?
The S&P 500 is just 10 points away from reclaiming the 1500 mark, a level it first hit nearly 13 years ago in March of 2000. The overall index may be flat since then, but that’s not to say that … Continued
Mayan Apocalypse (Cross) Averted
Circling back on a slightly ridiculous market indicator that we had been tracking here: not only was the Mayan Apocalypse averted back in December, but so was the Mayan Apocalypse Cross (which we dubbed a cross over of the 50/200 … Continued
Years That the S&P 500 Never Went Negative
Last year the S&P 500 was positive for the entire year–it didn’t close in the red YTD on any single day, and so far in 2013 the streak continues. While there was little fanfare over the S&P 500’s perfectly positive … Continued
Is Tax Selling Causing Apple’s Decline?
In recent weeks, there has been talk that part of Apple’s 23% decline may be due to the fact that capital gains taxes are likely to go up in 2013. The logic goes that since many Apple shareholders are sitting … Continued
Is [The] Santa Claus [Rally] Real?
The end of this week will bring the end of November, and with that there is the usual seasonal talk about a Santa Claus rally in the stock market. The logic goes that stocks usually rally between Thanksgiving and Christmas, … Continued
S&P 500 Down Just 0.21% In November
Even though we’re set to open slightly lower this morning, the S&P 500 is hardly down at all for November. This is amazing considering that it was down as much as 5% mid month. The pattern is similar to 2011, … Continued