Morning Comment: Energy ETF's Testing Key Support...Bitcoin Breaking Out.



We had yet another boring day in the stock market yesterday…as volume continues to come-in at/near the lows of the year….and the intraday range for the S&P 500 has been less than one-half of one percent on four of the past five trading days!....We do get some inflation data this morning with the CPI number, so that could help the activity pick up a little bit…and the news out about the pausing of JNJ vaccinations over blood clot concerns could create an increase in volatility. However, it looks like most investors are looking towards earnings season as a catalyst for the market’s next move.

The vast majority of the earnings won’t come until after this week, but given that we get numbers from BAC, BLK, SCHW, C, USB, BK, CFG, SSB, PNC, and MS on Thursday and Friday, we should certainly get enough information to help activity pickup in the financial sector.

After turning very bullish on the bank stocks early in the fall of last year, we became a bit more cautious about the group about a month ago. Very simply, we worried that the bond market had become very oversold…and long-term interest rates and the yield curve and long-term had become quite overbought on a near-term basis. Since that time, the KBE & KRE bank ETFs fell about 9% into the end of March, but they have recovered about half of those losses over the past week or so.

Therefore, the bank ETF’s stand right in the middle of their recent one-month range, so the earnings results/guidance we get later this week is going to be very important as to how the group acts as we move through the rest of the 2nd quarter. Thus, we’re going wait to see how they act after those earnings releases hit ...

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Morning Comment: Financial stocks still look great on a longer-term basis


You can’t get a lot more boring than we got yesterday in the broad stock market….as the major averages finished the day pretty much unchanged on the lowest volume day of the year so far. This action (or non-action) is ...

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Morning Comment: ARKK....AMZN....Mary Jane Bush


  • Some profit taking in front of tomorrow's employment report?
  • $110 is the KEY support level for ARKK
  • Ditto for the $2,950 level on AMZN.
  • A tribute to Mary Jane Bush, Wall Street pioneer.


The stock futures are trading higher this ...

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Morning Comment: Small-caps, Biotechs testing KEY support levels


If history is any guide the market tends to rally at the end of the quarter…as institutional investors mark-up their favorite picks. Thus, with only two days left in the first quarter, maybe it should be no surprise that the ...

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Morning Comment: Several Overseas Markets Showing Some Cracks.


The Treasury market rallied very nicely yesterday, and this obviously led to a rather material drop in long-term interest rates. However, instead of that causing a nice bounce in the stock market, stocks got hit quite hard. In our minds, ...

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Morning Comment: Banks Ripe for a Short-term Pull-back.

In our weekend piece this past weekend, we highlighted that although we expect long-term rates to head higher over time, we also think that they are ripe for a pull-back over the short-term. We showed how the chart on the ...

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Morning Comment: WAKE UP, the FED has become more hawkish!



Despite the consensus narrative after the Fed announcement/press conference yesterday, we would argue that the one thing that everybody is missing is that the Fed keeps confirming lately that it has changed its policy...and has become more hawkish. ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S" pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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THE WEEKLY TOP 10


If you would like to get these unique insights on a regular basis during these fascinating times in the investment world, please click here to subscribe to “The Maley Report.”......Thank you very much.



THE WEEKLY TOP 10


Table of Contents: ...

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Morning Comment: A willingness to let inflation


It was an ugly day in the stock market yesterday as the 2.4% drop in the S&P 500 and the 3.5% dive in the Nasdaq came on a decent sized increase in volume and very poor breadth. In fact, the ...

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Morning Comment: Travel & leisure stocks getting overbought near-term.


As we highlighted yesterday morning, large intraday-reversals (like the kind we got on Tuesday) almost always see some sort of upside follow-through over the very-short-term. That is exactly what we got yesterday...as some more dovish comments from Chairman Powell helped ...

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