Markets are back in rally mode this morning after Friday’s selloff that closed near its lows.  The one saving grace from Friday was that volume levels ran low, which means there wasn’t as much conviction behind the selloff. There was some positive economic news this morning when the Empire Manuf. index came in at 7.84.  [...]

Markets were slightly higher near the open but have since faded into negative territory.  Yesterday’s action was very positive.  The market gained strength all day and finished with what we call an outside reversal.  That means the low yesterday was lower than the previous day, but then the rally carried the indexes to a higher [...]

The markets were roughly flat at the open and have since pushed slightly into positive territory.  If you’re like me and you check the futures before you go to be each night, you are probably breathing a sigh of relief given how negative things looked last night. Asian markets slid across the board, led by [...]

Markets in the US opened on a higher note, but have since faded back into negative territory.  Lately, strength in the Japanese Yen has been associated with weakness in stocks.  Today the yen started out lower but has reversed higher.  So it appears for the time being we are back in that mode where we [...]

Stocks in the US were higher after the open but so far are struggling to stay positive in early trading.  This isn’t all that surprising after Friday’s outsized rally, which was on the back of Thursday’s big reversal.  The S&P has quickly bounced from testing the 1600 level to nearing 1650 this morning. On a [...]

Markets are nicely higher this morning after investors cheered this morning’s jobs report.  Nonfarm payrolls rose 175,000 in May vs. expectations for 159,000.  The unemployment rate ticked up a touch to 7.6%. In a normal recovery, 175k new jobs would not be enough to get excited about.  It certainly doesn’t paint a picture of a [...]

For months as the stock market rose folks said they liked the market but wanted to wait for a pullback to buy.  Of course, the market never really paused to give them a good buying opportunity.  But now we are getting a 5% pullback from the highs.  So my question is: are you buying now? [...]

The S&P 500 continues to pullback this morning.  We have been saying for the past week that we could see a pullback that takes the SPX to its 50-day average.  Today that seems more of a reality as the SPX currently tests 1616 while its 50-day average sits near 1605. The S&P mid-cap index already [...]