by Gary S. Morrow | Jun 18, 2019 | Market Update
Investors are as bearish now as they were at the 2008 lows. Key bit: “[Fund manager survey] investors have not been this bearish since the Global Financial Crisis, with pessimism driven by trade war and recession concerns” wrote Michael Hartnett, chief investment...
by Gary S. Morrow | Jun 14, 2019 | Chart of the Day, Commentary
The Russell 2000 Index continues to lag. While the Dow Industrials, S&P 500 Index and the Nasdaq Composite moved well above their respective 200 day moving averages this week the R2K Index has remained below. A similar pattern can be found in the Dow Transports....
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 6, 2019 | Chart of the Day, Commentary
Pfizer has been steadily rising since its Q1 earnings beat(Apr. 30). The stock gained 2.6% that day after opening the session with a healthy upside gap. The post earnings low as set early during the April 30th session. PFE is currently working on a fourth straight...
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...
