Watch What They Do, Not What They Say

Investor sentiment can be a valuable contrarian indicator.  The idea is that when everyone is either too Bullish or too Bearish (as they are now) it implies that it may be time to consider the other side of what the majority is thinking. We gauge the level of Bullishness/Bearishness through sentiment surveys… and when levels…

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Let’s Look Ahead to October and Q4

Today is the last day of September, and you know what that means – it’s the last day of the month and the last day of Q3. So get ready, because next week is where we’ll do a deep dive into everything from asset class and sector strength to market breadth and investor sentiment.  Consider…

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It’s As Simple As Following Price

YOU DON’T FIGHT THE FED. It’s a long-standing market adage.  But so too should be: FOLLOW PRICE. At the end of the day, only price matters.  I bring that to your attention as an important, critical reminder to never lose sight of what’s important.  Because, regardless of all the talk of rate hikes, recessions, housing,…

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This Has Everything to Do with Rising Rates

In case you missed the memo, 2022 has been all about rising bond yields. It’s undeniable. We can’t talk about stocks without including a conversation about the bond market.  More specifically, the direction of bond yields. Yields are once again pushing up against their June highs, so investors must understand the correlation between the equity…

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How to Behave When the Dollar Remains Strong

Don’t make the mistake of not reading today’s message to investors… I know I’ve written to you more than once about this, but I’m doing it again because it’s that important! The value of the U.S. Dollar (USD) is the strongest it has been in a generation.  Now that may sound great to some, but…

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It’s Time to Sit Tech On the Bench

There’s an important seasonal tendency we’re going to focus on today because it’s September 1, and that’s when one particular sector often struggles the most. You see, September is typically one of the worst months for the Technology sector – on both an absolute and relative basis. Let me show you what I mean. This…

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There Is No One-Size-Fits-All In Investing

The S&P 500 index just staged a very impressive rally off the June lows. Not only did prices rally, but we saw some much-improved breadth conditions – meaning more stocks have participated in the June rally than did in April/May. Healthy Bull Markets require broad stock participation – and as you can see, the percentage…

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Some Good News for Commodities

In case you hadn’t noticed, Commodities have come under a lot of pressure since June. However, there is some good news for Commodities. The recent sell-off in these inflationary assets is beginning to subside – and not surprisingly, it is happening at very logical prices. These are positive developments for the Bulls, as the appetite…

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