Data out this month show slowing business activity & new orders relative to the prior month, compounded with an unexpected slowdown in wage growth, forecasting a pullback from here with a complete patterns is logic.
He who speaks of preference will win the 2020 elections.
While the large-cap stock indexes like the $SPY $SPX $QQQ $DIA have been running higher, they are now at resistance and should stall out or at least slowdown. Small-cap stocks have been building a base for a mega rally that could make the large-cap run look like chump change! See more analysis on the small-cap sector: Click Here
1 to 1 target for Wave 5 would complete somewhere around $2,940. At present there is no opportunities to buy or sell the S&P 500.
API data released at 4.30pm EST on Tuesday show a "surprise" build, however, with expected weakness in hard data there should be no surprises. EIA data will either confirm or deny API's release.
Recent price action in copper looks terrible.
We can see slight higher highs from here, however, I expect to see a reversal somewhere between the current price and $61.60
My concerns of anything more than a pullback are subsiding, Chinese PMI is in expansion once more which is confirming that the majority of poor economic performance is likely finished. Over the next 6 months we expecting to see hard data underperform, compounded with a rising dollar it is a headwind for equities.
Despite all the bad news, we are likely to see a bounce occur around these levels.
Over the past week, my tone has switched a little more bearish. I was advocating for a blow-off top in equities before this cycle ends, however, on a second look at the data the leading indicators are continuing to show weakness over the coming 6 months. Certain aspects of the economic data are positive however, which makes it difficult to be outright bearish or...
Hi all, TLT is continue to rise as expected from our update last week. Contrary to popular belief I do believe that $131 will be a meaningful top.
VIDEO analysis on small-cap stocks, bearish but at fib support for a bounce as of today
From a macro top-down framework, the current environment heavily favors the bears. The leading data continues to show expected weakness in the economy over the coming 3-6 months. I would love to hear your feedback, have a wonderful day!
VIDEO Showing where the markets should move next - DOWN
Woould love to hear your perspective in the comments section below!
This is a company that showed up on our radar last December, its performed fantastically since! Near term risks are present so do yield caution.
I believe a hawkish Fed will be a policy error but it will help regarding trade negotiations.
When you short a stock you are taking on infinite risk, if the roles were reversed I would not be as tactical with this position. For now, it looks like we will trade slightly higher before another opportunity to short appears.