Thursday, November 2, 2017 Stocks gyrate as Wall Street digs through details of tax reform bill The S&P 500 traded off its lows as a sharp gain in the financials sector helped the index pare earlier losses. The plan would cut mortgage interest deductions in half. However, it would keep retirement savings plans like the…

Stocks Rally On Healthy Earnings and Economic Data It was another solid week on Wall Street as investors digested a slew of earnings and economic data. The major indices overcame a mid-week sell-off and ended higher after several well-known tech stocks reported strong numbers and GDP beat estimates. Buyers showed up on Friday after: Alphabet,…

Stocks Race Higher As Earnings Season Kicks Stocks soared last week on renewed hope of a tax cut and the vast majority of earnings (that were announced) beat estimates. The market went from being extended to being very extended as buyers continued to show up and aggressively accumulate stocks. From any normal perspective, the market…

Stocks Perched Near Record Highs As Earnings Season Begins The market was relatively quiet last week as earnings season officially began. The major indices remain perched below record highs as the bulls continue to dominate the landscape. The fact that there remains virtually no selling is a net positive for the bulls. In the short-term,…

Strong Start To Q4 The S&P has closed at a record high six straight days which is its longest run of the millennium (since 1997)! Stocks rallied sharply last week as the bulls remain in clear control of this market. At this point, the market is now extended (in the short term) and remains very…

Stocks End Week, Month, and Quarter Higher Stocks ended the week, month, and quarter higher as the bulls remain in clear control of the market. The great mini-rotation, a term I coined a few years ago, remains alive and well. The great mini-rotation refers to a bullish event that happens when big money rotates from…

Stocks End Busy Week Mixed Stocks ended mixed last week as investors digested a slew of data. First, global central banks sent mixed messages as the U.S. Fed was perceived to be slightly hawkish while Japan’s Central Bank was overtly dovish. Earnings were less than thrilling as most of the stocks that reported last week…

Stocks Hit Fresh Record Highs Stocks rallied sharply last week after the damage from hurricane Irma was much less than originally expected. Thankfully, in the 11th hour, Irma weakened considerably, made a last-minute turn, and skated up the west coast of Florida. The Dow, S&P 500, Nasdaq Composite, and Russell all ended the week higher…

Stocks Quiet Ahead Of The Hurricane The stock market remains very strong. The major indices slid last week but were quiet as the country waits for Hurricane Irma to hit Florida. and parts of the East Coast. Stepping back, the action remains healthy as the market continues to trade just below record highs and sellers…

Bulls Back In The Driver’s Seat The stock market remains exceptionally strong. Once again, the latest pullback was another strong buying opportunity. The Dow Jones Industrial Average, Nasdaq Composite, and benchmark S&P 500 are all back above near-term support and, once again, flirting with new highs. This was another shallow/healthy pullback in both size (small…