Desloges CFA is a professional investment consultant/ blogger/ trader
with over 25 years of experience working on the buy and sell-side.
have researched and invested in traditional and alternative asset classes and
worked at Pensions Funds, International Banks and Dealers. More...
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SP500 Technicals: Resistance Trendlines ? But the most interesting teschnical factor is that we tested the Daily Resistance Trendline of the Old Rising Wedge Pattern ( August 21 2015 Break Down Trendline ) that started back on December 16 2014 and failed to close above.
These stocks are crushing it, just like before the dot-com bust - The Chart A booming October has put the seasonally strong fourth-quarter on track for global markets, but as Christine Hughes, chief investment strategist for OtterWood Capital points out, there’s a troubling gap between the top 10 stocks by market cap and the rest of the U.S. market... US Equities: Bye-Bye Buybacks US businesses are no longer generating enough internal cash flow to fund operations. The corporate sector financing gap is historically wide, reflecting a heavy reliance on external funding. Corporate debt is growing faster than profits. The implication is that balance sheet flexibility is limited, which is a reliable indication of future repurchase activity.
DJ Industrials: Still Into My Weekly Rising Wedge ? But the most interesting technical factor is that, On a Relative Basis compare to the NYSE Composite Index, the DJ Industrials outperformed tremendously to reach levels not seen since July 2002! Are we getting a Relative Triple Top ?
Rarefied Air - John P. Hussman The atmosphere is getting thin up here, and every ounce counts triple when you're climbing in rarefied air. While near-term market dynamics are more likely to be impacted by Friday’s employment report than any other factor, our broad view remains that stocks are in the late-stage top formation of the second most extreme episode of equity market overvaluation in U.S. history, second only to the 2000 peak, and already beyond the 1929, 1937, 1972, and 2007 episodes, not to mention lesser extremes across history.
DJ Industrials (DIA ETF): Still Above the Break Out Trendline ? But what puzzle me the most is that, on that DJ Industrials Break Out, it was done on a Lower Trending Volume... SPTSX60 Index: Still into a Downtrend Channel ? But the most interesting technical factor is that on the Relative Sentiment of the Canadian and US stock markets (Ratio of the Bullish Percentage Index (Sentiment Indicator) on the SPTSX Composite Index compare to the Bullish Percentage Index of the Mighty SP500 Index), we are at the weakest level since the beginning of 2015.
Fund managers gloomiest on emerging markets in at least 14 years Fund managers haven’t been this pessimistic about emerging-market equities since 2001, according to a report from Bank of America Merrill Lynch released last week.According to the bank’s monthly survey, fund managers are most underweight in emerging-market equities versus developed-market equities since the start of the survey 14 years ago. CIOs see Apple taking more enterprise business A recent survey of chief information officers found that 46% expect Apple products to become more pervasive in the enterprise market in 2016. That is more than twice the number of those who expect Apple products to become less pervasive.
SP100 Index Bull% Index: All Aboard ? But the most interesting technical factor is that divergence since the previous peak in July between the Mighty SP100 Index and the Market Sentiment as shown by the first chart below: Looks like already All Aboard!
Dispersion Dynamics - John P. Hussman Two types of dispersion are increasingly apparent in market dynamics here. The first type of dispersion is between leading measures of economic activity and lagging ones. The second is dispersion in market internals, particularly observable in a continued narrowing of leadership to a handful of “winner-take-all” stocks, while broader measures of market action across individual stocks, industries, sectors, and credit spreads show persistent divergence that suggests increasing risk-aversion among investors.