The S&P 500 had a solid month in March; up 3.5%. But not everything rallied in March. Small caps and mid-caps were down 3-5%. Only 3 of 11 equity sectors are up March YTD. And high quality stocks have been lagging all year as shown by the difference in...
THE WAR AGAINST INFLATION HITS A SPEED BUMP Six weeks ago we wrote in the January mid-month commentary that the Fed was winning the war against inflation. If we look at their progress since last year’s peak inflation that is still true. But January hit a snag. ...
An old adage on Wall Street is “don’t fight the Fed.” Another one is “don’t fight the tape.” The second rule seems to be a winning out in January. Bulls and bears can argue about fundamentals (they always do) but both would agree that market technicals are turning...
Equity investors do not have a lot to like, but that is always the case closer to market bottoms than tops. That doesn’t mean we have to rally in 2023, but just because positives are limited doesn’t mean we have to keep going lower either. The end of a bear market...
The stock market has been strong since early October. The S&P 500 rallied 6.5% in October and is up 2.5% so far in November (through November 28th). Although this is likely a bear market rally, something has changed in investors’ minds. In the short term,...
After the market and sentiment hit a low on September 30, stocks had a fabulous October. The Dow surged 14.0% in October with the S&P 500 up 8.0%. NASDAQ trailed but was up 3.9%. It was the best month for the Dow since January 1976. The most impressive part of...
