By Pete Biebel, Senior Vice President
Significant financial and political events last week could have given the markets a real workout. In the end, the stock market did a couple lunges and a squat, but barely raised a sweat. The outcome of the Trump/Kim summit was about as expected. The dovish bent of the FOMC meeting […]
By Pete Biebel, Senior Vice President
This week has the potential to be a very important one for the market. As the week begins, the market will be responding to the “results” of the G-7 economic summit in Quebec over the weekend. This is akin to responding to the results of a ball game in which […]
By Pete Biebel, Senior Vice President
My most recent article, “The Range Narrows, The Plot Thickens” (5/7/2018) continued the narrative that recent trading had been largely contained by the converging 50-day and 200-day moving averages on the major indices. As of that Monday, the 50-day moving average of the S&P 500 Index (SPX) stood at 2680 […]
By Pete Biebel, Senior Vice President
Like two armies slowly advancing on each other, the no-man’s land between the major indices’ 50-day and 200-day moving averages continues to narrow. In recent weeks, I’ve written that those moving averages have increasingly become obvious barriers above and below the market. For the second consecutive week, virtually all the […]
By Pete Biebel, Senior Vice President
The bull market that rampaged higher in January was nowhere to be found in February. Since then though the market has been bucking in all directions, but hasn’t really gotten anywhere. The rampaging, run-away beast of January has morphed into something resembling a mechanical bull in a cowboy bar, a […]
By Pete Biebel, Senior Vice President
Stocks see-sawed higher last week with the major averages gaining between 1 ½% and 3%. As the prior week ended, there were concerns about the averages dropping below their 200-day moving averages. Not to worry. From last Monday’s big gap-up opening the broad indices were in the green all week.
It […]
By Pete Biebel, Senior Vice President
Despite sustaining losses of about 2 percent or greater on both Monday and Friday, the popular indices ended the week with just minor net losses. Back-to-back-to-back gains midweek lifted both the Dow Jones Industrial Average (DJIA) and the S&P 500 Index (SPX) into positive territory and to near their highs […]
By Pete Biebel, Senior Vice President
In recent weeks the potential for a retest of the February lows had not been appreciably diminished by the rebound rally. In each of the previous two weeks I warned that breaking below 2730 on the S&P 500 Index (SPX) would be a bad omen. I reminded that air-pocket declines […]
By Pete Biebel, Senior Vice President
Compared to recent weeks, market action last week had less movement than a prisoner in solitary confinement. Following spectacular gains in the previous week, the averages were in a position to extend their rebound rally. But, the bulls failed to deliver. My contention in recent articles (“You Say You Want […]
By Pete Biebel, Senior Vice President
I can’t get no satisfaction. A couple weeks ago in “You Say You Want a Resolution,” I wrote about the unresolved issue of whether the market had completed its mini-correction and was now on its way to higher highs or it was merely going through a rebound phase in an […]
