Between September and January, investors take place in a very ritualistic ceremony in which they comb their portfolio looking for losers, and then dump them. There’s a name for this ritual and it is called, tax-loss selling. Sentiment towards these stocks can bottom eventually and support levels form.
The monthly employment report is among the most popular and controversial of the government's economic reports. The latest one released yesterday was no exception, with its weaker-than-expected new jobs but a decline in the unemployment rate from 7.3% to 7.2%.
The same leading economic indicators that called for a recovery in the European economy and stock market are now calling for a pause in which Eurozone GDP peaks early 2014. The stock market may discount this in advance by peaking this month.
U.S. stocks have been on a tear. The S&P 500 Index has climbed a surprising 20 percent so far this year, as a global synchronized recovery takes shape and funds flow back to equities. Investors take risks when they try to stop a bull run, and plenty of data suggest you might regret taking that action this year.
Well, it’s official. President Obama has picked Janet Yellen as his nominee to be the next Federal Reserve Chairman. In the months leading up to this announcement, the press unanimously dubbed Yellen the Queen of the Doves, pointing to her reluctance to roll back the Fed’s Quantitative Easing program.
The market’s long and intermediate-term trends have strengthened this week with momentum on nearly every time frame showing a buy signal expect for the weekly MACD, which is only a stone’s throw away at this point.
The Philly Fed's Business Outlook Survey is a monthly report for the Third Federal Reserve District, covers eastern Pennsylvania, southern New Jersey, and Delaware. The latest gauge of General Activity came in at 19.8, down from the previous month's 22.3.