Tom McClellan's picture

On March 3, the McClellan A-D Oscillator hit a reading of +332, which was its highest reading since the +386 reading seen on Jan. 6, 2009. The cause of that high reading has been a big surge in positive breadth days for the NYSE ever since the Feb. 11, 2016 price low...

Andrew Zatlin's picture

The Fed’s next move with interest rates is the biggest issue driving global credit and equity markets. The fundamental idea is that the economy is like a candle: if it burns too bright, it burns out faster...

Marc Chandler's picture

Investors are skeptical of Chinese economic data. However, news yesterday that Chinese exports fell by a quarter in February shocked investors. Many worry about the implications not just for China, but for world growth. It comes as the IMF...

Clif Droke's picture

The broad equities market has gotten a respite from the selling pressure which plagued it for the last few months. Some of this can be attributed to the Kress cycle “echoes” which we reviewed earlier this year. The echoes

Matthew Kerkhoff's picture

Bear markets are rather arbitrarily defined as a decline of 20% or more from recent highs. Some will go further in their definition, including subjective aspects such as widespread fear and pessimism. But at the end of the day, a bear market is...

Urban Carmel's picture

The macro data from the past month continues to point to positive but sluggish growth. On balance, the evidence suggests the imminent onset of a recession is unlikely. The main positives are in employment, consumption growth and housing...

Jeffrey D Saut's picture

When Herb Stein, chairman of the Council of Economic Advisers in the Gerald Ford administration, was admonished by his boss not to use the word "recession" to describe a recession, he complied, reluctantly. "From now on," he told...

Michael Shedlock's picture

ZIRP (Zero Interest Rate Policy) has been replaced by the new central bank rage, NIRP (Negative Interest Rate Policy). The only tangible result of these central bank actions has been asset bubbles that are guaranteed to pop.

Kurt Kallaus's picture

Within a couple of days of the spike lows in stocks on January 20th and February 11th, after testing 15% correction lows in the S&P 500 and 20% in the Nasdaq, we published updates indicating extremely oversold signals.

Matthew Kerkhoff's picture

The world is awash in worries about deflation, but here in the US it appears that inflation is making a comeback. If this new trend continues, it may catch a lot of investors off guard. Inflation, or the lack thereof, drives financial markets...

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