Last week, the S&P 500 fell 0.6%. The broader NYSE Composite also fell 0.6%. The Russell 2000 was again the weakest US stock index, losing 1.2%. Of the global indices we track, the Russell also remains the weakest year-to-date and is now flat for the year. We are starting to get a bit more up and down out of stock indices, which…

Last week, the S&P 500 fell 1.4% while the broader NYSE Composite fell 2.0%. The Russell 2000 was again the weakest US stock index, losing 2.8%. Of the global indices we track, the Russell also remains the weakest year-to-date at +1.3%. Clearly, the heightened tensions with North Korea were the catalyst…

Last week, the S&P 500 gained 0.2% while the broader NYSE Composite rose 0.3%. Both traded mostly sideways for the week. The Russell 2000 was the weakest US stock index, losing 1.2%. Of the global indices we track, the Russell also remains the weakest year-to-date (at +4.1%)…

Last week, the S&P 500 closed flat while the broader NYSE Composite rose 0.3%. Most global indices drifted sideways last week. The Russell 2000 was the weakest US index, losing 0.5%, and it also remains the weakest of US indices year-to-date…

Last week, the S&P 500 rose 0.2% while the broader NYSE Composite fell 0.3%. With the exception of the Nasdaq, which rebounded 1.8% last week, most western markets closed nearly flat. Thus, little has changed to our outlook since last week’s update. Currently, our clearest medium-term price pattern still belongs to the NYSE Composite…

Last week, the S&P 500 rose 0.1% while the broader NYSE Composite rose 0.2%. Most global indices drifted lower. The Russell 2000 was the weakest US index, losing 1.1%. We were pleased to see the divergence between the NYSE and the Russell because we believe the former has more work to do on the upside while the latter very likely made a…

Last week, the S&P 500 fell 0.3% while the broader NYSE Composite rose 0.2%. It would have been a choppy go-nowhere week if not for the Nasdaq which plunged 200 points (about 3%) from top to bottom on Friday. It then rebounded from its lows to end the week down 1.6%. On Thursday, we warned on the member’s Live Blog that the Nasdaq 100 (QQQ)

Last week, the S&P 500 rose 1.0% while the broader NYSE Composite rose 0.8%. Key price levels were broken last week. The S&P broke above 2422, which was our “line in the sand” but, after reviewing the chart, it appears that the actual breakout level was 2419, as evidenced by the near vertical price liftoff that occurred once that level was exceeded…

Last week, the S&P 500 rose 1.4% while the broader NYSE Composite rose 0.8%. Key price levels were achieved last week. On Thursday, the S&P reached as high as 2419. We had been looking for a peak as high as 2422 before a bearish reversal. Anything beyond 2422 would open the door to another 100 potential points (i.e. 4%) of upside…

Last week, the S&P 500 fell 0.4% while the broader NYSE Composite closed flat, making it the strongest US index. The Russell 2000 was the weakest index, losing 1.1%. The relative strength of the NYSE makes some sense, given that it is the only US index that has a glaring major target high (at roughly 12,000) that remains unachieved…

Last week, the S&P 500 fell 0.4% while the broader NYSE Composite fell 0.6%. The Nasdaq was the strongest US index, gaining 0.3%, while the Russell 2000 was the weakest, losing 1.0%. Last week was another sideways chopfest for US stock indices and thus our view remains little changed from last week’s update…

Last week, the S&P 500 rose 0.6% while the broader NYSE Composite rose 0.7%. The Nasdaq was the strongest US index, gaining 0.9%, while the Russell 2000 lost 0.3%. Last week was mostly a sideways “chopfest” for US indices and little has changed since last week’s update….

Last week, the S&P 500 rose 1.5% while the broader NYSE Composite rose 1.3%. The Nasdaq was the strongest US index, gaining 2.3%, and made new all-time highs, as did the Russell 2000. The push higher in the Russell 2000 accounts for our underperformance last week as we had (overly) focused our short exposure on that index…

Last week, the S&P 500 rose 0.5% while the broader NYSE Composite rose 0.6%. The Russell 2000 was by far the strongest US index, gaining 2.5%. In last week’s update, we anticipated a broad bounce and that’s what we got. We did not expect the Russell to outperform by the magnitude that it did and that made the week’s hedges…

Last week, the S&P 500 fell 1.1% while the broader NYSE Composite fell 1.4%. The Russell 2000 was the weakest US index, losing 1.4%. We expect weakness will continue in the medium term. However, short-term indicators became oversold by the end of last week. This week, we should anticipate a bounce attempt…

Last week, the S&P 500 fell 0.3% while the broader NYSE Composite fell 0.4%. The Dow performed the best by closing flat for the week, and the Russell 2000 performed the worst, losing 1.6%. On Wednesday, QQQ made a new high at 133.48, exceeding our target of 132.90, but remaining within our margin of error.…

Last week, the S&P 500 rose 0.8% while the broader NYSE Composite rose 0.7%. The Russell 2000 was the best performer, gaining 2.3% after declining 2.7% in the prior week. In our last update, we said “this week, we initially expect more downside followed by another bounce attempt.” That’s what we got, with a push lower on Monday followed by…

Last week, the S&P 500 fell 1.4% while the broader NYSE Composite fell 1.5%. The Russell 2000 was the worst performer, losing 2.7%. The Russell is also the only US stock index that is now negative on the year. In our last update, we said “there is now a reasonable chance that US stock indices have peaked across the board.” Given last week’s price action…

Last week, the S&P 500 rose 0.2% while the broader NYSE Composite rose 0.8%. The Russell 2000 was the best performer, gaining 1.9% for the week. Given that the Russell was also the most short-term oversold index after weeks of underperformance, last week’s outperformance did not come entirely as a surprise…

Last week, the S&P 500 fell 0.4% while the broader NYSE Composite fell 0.9%. The Nasdaq performed the best by losing only 0.2%, and the Russell 2000 was again the worst performer, falling 2.1% for the week. Price action last week met our expectations, given our conviction that the Russell has already peaked while the Nasdaq 100 has not yet achieved its…

Last week, the S&P 500 rose 0.7% while the broader NYSE Composite rose 0.5%. The Russell 2000 was again the laggard among US indices, closing flat for the week. Price action last week was potentially critical. We got an upside spike on Wednesday (March 1) during which index prices achieved or nearly achieved virtually all of our targets highs in unison…

Last week, the S&P 500 rose 0.7% while the broader NYSE Composite rose 0.3%. The Russell 2000 was the only loser among US indices, falling 0.4%. During the week, multiple target highs were achieved or nearly achieved. Our Dow target was surpassed, which we speculated about last week due to the mismatch between…

Last week, the S&P 500 rose 1.5% while the broader NYSE Composite rose 1.2%. The Nasdaq Composite was the leader again, gaining 1.8% and the Russell 2000 was the laggard at 0.8%. Last week’s price action was a bit stronger out of the gate than we expected and has brought some of the indices to within spitting distance of final target highs…

Since we initiated our portfolio in late October 2014, we’ve felt no need to comment in length about our stock picks – we’ve let performance speak for itself. We built large positions in cutting edge tech companies and, in particular, allocated heavily to the “FANG” stocks – i.e. Facebook, Amazon, Netflix, and Google….