Market rally fails again…is it going lower?

The S&P 500 is barely holding above a technical correction and it has failed multiple times at the 50 day moving average.   The rotation rally looks like it has fizzled.  Today was characterized by indiscriminate selling.  Everything was down- Tech, Value, Precious Metals, Bitcoin…everything. I think the market is headed lower…but I’ve thought that allContinue reading “Market rally fails again…is it going lower?”

Markets have been selling off for four straight weeks.

Today the S&P 500 gapped down, but then recovered to close at an intraday high, showing that bargain hunters are still active.  So is the selloff over?  I don’t think so.  I’m anticipating more down days as a second wave of COVID crests ahead of the November presidential election drama. The downturn will likely continueContinue reading “Markets have been selling off for four straight weeks.”

September swoon…how low can it go?

September is normally the most volatile month for the stock market.  Today’s decline is a confirmation of that notorious reputation.  This pullback should come as no surprise, the market has gotten overheated to near levels of irrational exuberance.  Amateur and professional investors alike have been recklessly buying into stocks with nonsensical valuations- Tesla, Zoom andContinue reading “September swoon…how low can it go?”

Simultaneous Fear & Greed

During my many decades as an investor, I’ve seen extremes of Fear or Greed, but I don’t recall a market that was characterized simultaneously by both.  That’s exactly where market conditions are now. FEAR:  People are deeply mired in anxiety over health effects of COVID or side effects to the economy. GREED:  People are exuberantlyContinue reading “Simultaneous Fear & Greed”

1992 Election Aftermath

The year was 1992, the incumbent president was favored to win. The stock market had been rallying during the 4th quarter of the previous year, until it peaked on January 15.  Optimism started to fade.  The president’s popularity was declining and previous statements he’d made were now coming back to haunt him.  The Media promotedContinue reading “1992 Election Aftermath”