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Posts Tagged ‘rally’

Bulls almost pull the S&P 500 even today, but then late selling kicks in

For a while it looked like bullish investors and traders would manage to pull the market even into the close. That would have been quite a positive feat after a huge 3-ay rally and going into a weekend. At 3:27 p.m.New York time today the Standard & Poor's 500 was down only 0.18% at 2615.58 […]

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Will today’s rally hold though the close?

The Standard & Poor's 500 was up 4.66% at 1:53 p.m. New York time after opening up more than 5%. Since 1:53 level, however, the index has been gradually fading. As of 3 p.m. the gain for the day was down to 3.36%. The bounce this morning was very strong from oversold levels. And it […]

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Do January cash flows out of stocks explain February rally?

In the last week of January investors pulled nearly $12.6 billion out of mutual funds and exchange-traded funds that hold U.S. stocks. That extended the longest retreat from U.S. stocks since 2016, according to data released Wednesday, February 5, by the Investment Company Institute. The outflows came during a week in which fears of the […]

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Stocks start 2020 in melt-up mood

We've seen this before. And investors and traders seem determined to keep a good thing going--until it doesn't work anymore. Today, January 2, the first trading day in the new year for U.S. markets, stocks were off to the rally races again. The Standard & Poor's 500 closed up 0.84% and the Dow Jones Industrials […]

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Another analyst capitulates to “fear of being left out”

If this market runs out of bears, I think it's in trouble. And today one of the market's few remaining bears capitulated to the rally. Wells Fargo’s head of equity strategy Christopher Harvey hiked his year-end price target for the Standard & Poor's 500 Index to 3,088 from 2,665. The index closed at 2,983 on […]

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Amazon signals slowdown ahead; Wall Street doesn’t believe it

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It’s a FOMO market

"Fear of missing out" is driving this stage of the market rally. Fund managers were under allocated to equities at the start of the year and are now playing catch-up with the indexes. And since the consensus is that the Federal Reserve has the market's back, there's very little fear that playing catch up now […]

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Durables orders good for stocks and economy

Orders for durable goods rose 0.4% in January, the Census Bureau reported this morning. Economists surveyed by Briefing.com had projected a 0.6% decrease. Ex-transportation new orders, which means excluding volatile aircraft orders (for January remember and therefore this doesn't include the effects of the recent Boeing 737 Max crash), fell 0.1% against projections for a […]

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Market tested 2800 again yesterday–new highs ahead or back to the box?

The Standard & Poor's 500 fitted with 2800 again before closing at 2791.52. That certainly puts the index within striking range of 2800 again--but in 2019 the market has shied away from breaking and holding the level. So consider this another test--until stocks prove otherwise. Not so long ago, you'll remember we tested downside support […]

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Trick or trend: Portfolio concentration is getting more concentrated

Our regular (or occasional or perhaps occasionally regular) Friday series (actually running on Saturday this week) Trick or Trend looks at what might (or might not) be emerging investible trends. Exclusively on JAM. This post won't run anywhere else. Ever. At hedge funds, the top 10 holdings made up 70% on average of a funds […]

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