Before the Fed’s announcement yesterday that interest policy was unchanged, the markets took off trying to erase the losses sustained earlier in the week. Some resistance towards the end of the session set in (see chart), and profit taking pulled the indexes off their day’s highs. The Fed commented that inflation is not a problem at this time since the …
Anxiety
Anxiety over the outcome of the Fed meeting, coupled with fear that we may have reached an interim top in the market, kept a lid on any recovery efforts yesterday, and the markets closed down for the second day in a row. In the bigger scheme of things, the losses were moderate and, given the recent advance, they were long …
Dow Theory Sending Buy Signals
The market tripped a little yesterday but, as has been the case lately, the bulls put up a fight after the early sell off, and the losses ended up being moderate. On the horizon is the Fed’s decision on interest rates, which is due out on Wednesday. While no changes are expected, uneasiness nevertheless prevails. With the economy being as …
The Mother Of All Bear Market Rallies?
Mish at Global Economic Analysis referenced an interesting article written by economist Dave Rosenberg titled “What Growth is the S&P; 500 Pricing in? Here are some highlights: Based on past linkages between earnings trends and the pace of economic activity, believe it or not, the S&P; 500 is now de facto discounting a 4¼% real GDP growth rate for the …
No Post
There will be no post today, since various commitments are keeping me out of the office. Regular posting will resume on Monday.
Retirement Plan Worries
Despite the recent rebound in the market place, not all is well in most 401k accounts, as MarketWatch reports in “Plenty of Reasons to Worry:” Happy days are here again, right? After all, the markets are up, Americans are twittering happily about their 401(k) accounts, and life is good, right? Not so fast. The Employee Benefit Research Institute just rained …