Discount The Obvious

I hope you had a great week, here's a quick recap of last week's plan: Equities ended the week mixed, with the S&P 500 (+0.9%) and Nasdaq 100 (-0.3%). Soft CPI caused massive drop in equity indexes, while hot PPI caused the reverse. The S&P 500 dropped much further after this screenshot. Interestingly, we should have seen the opposite. Soft CPI means that … [Read more...] about Weekly Update – July 12th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities had a great shortened week, with the S&P 500 (+2.0%) and Nasdaq 100 (+3.6%). I noted this last week, stating that "I may turn bullish over the short term", due to July being seasonally bullish for equities. Unfortunately, I was hoping for some breadth expansion in the Nasdaq. As you can … [Read more...] about Weekly Update – July 5th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities finished down for the first time in 4 weeks, with the S&P 500 (-0.4%) and Nasdaq 100 (-0.5%). The Nasdaq is worse under the hood. Notice how we have had 11 straight days of more stocks making net lows than net highs (purple box). We had a decent correction when this last occurred in … [Read more...] about Weekly Update – June 28th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities opened strong and finished positive, with the S&P 500 (+0.6%) and Nasdaq 100 (+0.2%). I have been writing about more S&P 500 stocks being sold (blue box), and this week wasn't any different. More stocks are making net lows, which reiterates my belief that institutional investors … [Read more...] about Weekly Update – June 21st, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities rallied after a low CPI number, as the S&P 500 (+1.6%) and Nasdaq 100 (+3.5%) both gapped up on Wednesday. Unfortunately, I'm seeing more concerns once you look under the hood. This week's FOMC and last Friday's unemployment numbers make me even more concerned. Making me bearish over the … [Read more...] about Weekly Update – June 14th, 2024