Fri April 12

Financials nearing short-term support but selectivity remains key

THIS WEEK’S SELLOFF LOOKS TO BE NEARING IMPORTANT SUPPORT HEADING INTO NEXT WEEK WHICH SHOULD ALLOW FOR SOME STABILIZATION AND A SNAPBACK RALLY INTO LATE APRIL AND THE MONTH OF...

Fri April 5

Surveying Financials Sector ahead of Bank earnings next week

I CONTINUE TO SEE THE US STOCK MARKET AS BEING ATTRACTIVE, TECHNICALLY SPEAKING, AND DO NOT FEEL SUFFICIENT RISK IS THERE TO WARRANT A SELLOFF AT THIS TIME. WHILE PRICE...

Mon April 17, 2023

Stocks up 65% of the past 20 trading days, highest since Nov 2021, and a reason it is starting to "feel like a bull market." We expect 1Q23 EPS to exceed expectations, likely 2H23 trough in EPS = supporting strengthening breadth.

The S&P 500 is up 8% YTD (~+20% in the past 6 months) and at this pace, is annualizing returns of ~30% -- that is not our forecast. And as...

Fri April 14, 2023

Financials strength should be a positive for the back half of April

Despite the mild pullback to take away some of Thursday’s strong gains, this week managed to close firmly positive for both the SPX and DJIA for the fourth week of...

Thu March 9, 2023

Financials breakdown vs SPX will lead to further underperformance

The worse-than-expected Jobless Claims number Thursday (211k vs. 195k expected) caused a big Treasury rally but failed to lead stocks higher, given the big decline seen in bank stocks led...