Congestion
OVERVIEW The major U.S. stock indices put in mixed performances last week. While the S&P 500 Index gained a moderate 0.36% and the Nasdaq Composite surged 2.15%, the Dow Jones Industrial Average lost 0.13%. The gains came mostly from growth stocks, with the...
More Advancers Than Decliners
This week’s featured chart shows why the recent rally in the stock market might have some legs. The chart, shown above, is a “breadth thrust” indicator that measures the ratio of advancing stocks to declining stocks. Specifically, it takes the ratio of the...
Reversals
This week, I want to feature an indicator we’ve recently discussed on the blog. It’s a price-based indicator that measures reversals in the stock market. Specifically, it generates buy and sell signals for the S&P 500 index based on percentage reversals...
Signs of Life, But Market Must Prove Itself
OVERVIEW The U.S. stock market finished a strong month of July, with the S&P 500 soaring 4.26% for the week. The Dow Jones Industrial Average posted a gain of 2.97%, and the Nasdaq Composite rose 4.7%. Foreign stocks did well, too. Developed country stocks...
Silver Lining
This week, the Commerce Department announced that real GDP fell at a seasonally adjusted annual rate of 0.9% in the second quarter. This followed a 1.6% decline in the first quarter. Taken together, that’s two consecutive quarters of declining real GDP, which...
Party With Stocks or T-Bill and Chill?
Near the end of the 1990s, two well-known economists, Robert Shiller and John Campbell argued that the high ratio of stock prices to dividends indicated that the stock market was seriously overvalued. In other words, they thought the dividend yield (dividends...
Valuing the Market
Whenever there’s talk about what drives the stock market, it usually comes back to two main factors: earnings and what investors are willing to pay for those earnings. A common way to quantify this relationship is to look at something called a price-to-earnings...
Finding the Right Gear
OVERVIEW The U.S. stock market had another down week last week. After a 0.93% drop, the S&P 500 has now fallen in 12 of the last 15 weeks. The Dow edged lower 0.16%, and the Nasdaq dropped 1.57%. Growth stocks pulled the market lower, with the Russell 3000...
Market Update – July 2022
Listen to the July 2022 Market Update where David Nelson and Jake Woodcock discuss their latest thoughts on the market.
Jumbo Hike
This week's big news was the release of the June Consumer Price Index (CPI) inflation number. On a year-over-year basis, headline inflation came in at 9.1%. That’s the highest it has been in 41 years and was higher than Wall Street’s expectations. As a result,...
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