by Gary S. Morrow | Jun 11, 2019 | Chart of the Day, Charts
The so called ‘experts’ were way off with their predictions of interest rate direction in 2019. This should surprise no one. Hat tip Bespoke
by Gary S. Morrow | Jun 11, 2019 | Chart of the Day, Charts
Back on April 17th IBM took a big hit. This earnings inspired flush(-4.15%) attracted the heaviest volume in months. IBM remained fairly stable through the rest of April and into early May but it was clear a bear channel was building. By late May shares were down...
by Gary S. Morrow | Jun 8, 2019 | Charts, Commentary
The S&P 500 Index entered last week with a four week losing streak. Since March of 2009 it has only made it to five straight once. What happens when investor optimism reaches dramatically low levels? Losing streaks end abruptly. The SP 500 Index closed Friday...
by Gary S. Morrow | Jun 7, 2019 | Chart of the Day, Charts
Bonds had a strong initial reaction to this morning’s weaker than expected employment numbers. Rates were down across the board but at mid day bonds are backing off the highs. The AGG(iShares Barclays Aggregate Bond Fund) has returned to a major high during...
by Gary S. Morrow | Jun 6, 2019 | Author Commentary, Charts
Abbott Labs is trading at new June highs today as it extends yesterday’s trendline break. The stock is trading up 1.6% and is heading for its best close of 2019. Since the ugly post earnings sell off on April 17th, the second biggest loss of the year, ABT has...
by Gary S. Morrow | Jun 5, 2019 | Chart of the Day, Charts
Shares of retail giant Wal Mart are heading for their best close of the year. At mid day the stock is up 1.7% and is beginning to pierce heavy resistance near the $104.00 area. This key zone capped the February, April and May highs. Once this area is taken out WMT...
