phantom_market

phantom_market

This Monday's sharp downward move may have marked the beginning of the end of this market bubble. Look at the ridiculous jump in S&P 500 P/E ratio and other figures in the link below published 2 days ago. www.reuters.com Market leaders like Amazon are nothing short a speculative bubble. Earnings are not growing exponentially yet P/E is close to 150. Tech Giant...

phantom_market

At the time of time of this writing, DJI is up 0.92%, SPX is up 0.58% while Nasdaq 100 is down 0.1%. There is a rotation shift from tech stocks to the others for now. If there is no reversal by the end of today's close, it is better to wait till Nasdaq 100 is closer to psychological level of 10,000. There is a possibility of reaching that level by next week if...

phantom_market

Great employment numbers yesterday. Did you buy before 8:30am ET yesterday? Good for you if you did. If not, consider holding off your index finger before you hit the "Buy" button. Looking beyond NFPR headlines, now for the not so good part... +2.509 million job increase in May vs -20.5 million job losses in April (Abstract from Reuters below) Part-time workers...

phantom_market Updated 

S&P 500 broke 3,000 and 200 day moving average. All things aside, without any secondary technical indicators and bad news, it does look like a bull case. However, with Coronavirus around, historical high jobless rate, bad economy, protest turned riot, MACD divergence, trade war tension, one has to wonder how far this rebound can go on. Fed has created a stock...