Markets – Macro – Technicals

Chart in Focus rss


May 22, 2017

Small Caps, Big Trouble? Following the big rally on the heels of the election small caps have gone nowhere. However the 1345-55 zone has held support 9 times now.  Last week’s one day wonder dip was bought again, but in process small caps have dropped below their 50 and 100 day moving averages and these… Read More ›

$SPX: Pay More for Less

Earnings growth = record prices or so the general financial headlines seem to convey. And, without context, all this is true. Earnings have bounced back a bit from last year’s energy driven earning malaise and we even have seen growth in revenues. Yet what seems entirely missing is context: Investors are paying a lot more… Read More ›


European stocks have been on a tear greatly aided by massive QE programs courtesy of the ECB and the BOE for the UK. The DAX is now up 6 months in a row and the Euro Stoxx index, while far from all time highs has reached a critical spot. The chart could be seen as… Read More ›

What does $DIS know?

$DIS the stock is seeing some sudden weakness over the past few days. What’s behind it? I don’t know, but looking at the history of the stock over the past few years one can’t help wonder if $DIS knows something that the market doesn’t. I know it sounds silly, but recent sudden $DIS declines seem to presage a… Read More ›

RSP Crash

Yesterday the $NDX made new all time highs driven again by the usual suspects. $AAPl, $FB, etc. I keep pointing it out until I’m blue in the face I guess, but the the story of the bifurcated market continues. On yesterday’s new $NDX highs fewer components stayed above their 50MA, again, and over all equal… Read More ›

$RUT: Oops I did it Again

Oops, the $RUT did it again. $RUT made new highs and then rejected for month close. The interesting part of this was again the long term standing trend line we pointed out a few weeks ago at the beginning of April. It again served as rejection. The risk for the $RUT remains a larger correction that… Read More ›

Equal Weight

Nasdaq and $RUT making new all time human history highs, $SPX just a few handles below. $VIX down to 10.4-10.5 with another stunning volatility compression. Markets love elections apparently as every election on the planet gets bought no matter the outcome. The only missing element? Equal weight. Just doesn’t like this rally: Markets don’t care for… Read More ›

$FTSE: Key Time

The FTSE is dropping hard today on the news of surprise new elections coming in June. The timing is interesting. Earlier this year $FTSE made new all time highs. Remember when Brexit was supposedly bad? Central bank intervention by the BOE aside this remains an open debate. What is not a debate is that the highs recently… Read More ›

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