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REVIEW The week started at SPX 2367. On Monday the SPX rose to 2372, pulled back to 2359 on Tuesday, then gapped up on Wednesday hitting an all-time high of SPX 2401. Thursday and Friday saw the SPX pullback to 2375 before ending the week at 2383. For...

Weekly Market Outlook – July 11, 2016 Following through on the surprising post-Brexit bounce from two weeks ago, the S&P 500 (SPX) (SPY) gained 1.3% last week, closing at 2129.90. Though that wasn't the highest close ever for the index (nor did...

A little over a month after the then Fed chair Ben Bernanke dropped hints about Fed tapering of its QE program I wrote that the likely effect of Fed tapering would be a compression in risk premium (see It's the risk premium, stupid!). That's because...

Futures are indicating a big gap up come Monday morning, so it looks like the market could blow through my 1695-1700 target.  This market somewhat reminds me of the reverse of the 2008-2009 bear market.  In 2008-2009, the market would bounce...

Pre-Election Market Movers – Mr. Comey and the Trio Infernal Before this Monday, the S&P 500 Index went down nine days in a row. While this was almost unprecedented (or in any case, a very rare event) the decline was quite small overall. The timing...