by Gary S. Morrow | Aug 15, 2019 | Commentary
Yesterday’s 800 point drop in the Dow was the 4th largest ever! The media made a huge deal of Wednesday’s steep sell off. Ignore this. In terms of percentage loses, it was ranked 380th. For perspective, the ‘Black Monday’ crash back in October...
by Gary S. Morrow | Aug 9, 2019 | Market Update
Just last week IBM reached new 2019 highs. IBM is leading the Dow Jones Industrials lower as the week comes to an end. Quite a reversal from last week’s move into new 2019 high territory. Last Friday, as the post earnings surge(July 17) hit new highs, IBM...
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...
