Markets up…Fed lowers GDP

Markets continued to do extremely well on talk that OPEC members will cap production.  I remain skeptical and believe that stocks are overvalued and will follow Oil prices lower. The Federal Reserve Open Market Committee (FOMC) met this week and continued their post-recession tradition of revising GDP growth downward: “Members of the committee lowered theirContinue reading “Markets up…Fed lowers GDP”

Stimulus saves the day, for now

Investor’s Business Daily (IBD) set the market status as a Correction on January 4, 2016; that lasted for about three weeks until Tuesday’s weak follow-through day, when they felt the market was back in an Uptrend.  But then on Wednesday, IBD downgraded the situation to Uptrend Under Pressure, only to upgrade it again on Friday.Continue reading “Stimulus saves the day, for now”

S&P500 down 2.5% year-to-date

The S&P500 is down 2.5% year-to-date and has lost support at all the key levels- 50, 100 & 200dma.  Is the global secular slowdown finally effecting the US stock market or is this simply another temporary meltdown ahead of the FOMC meeting?  (Whereby the markets shoot up after the Fed postpones a rate hike.) IContinue reading “S&P500 down 2.5% year-to-date”