Some of the strongest performers in the past 3 months have been U.S. bank stocks. It's not a coincidence that charts of the large cap banks all look very similar since the same dynamics affect them all. The most significant catalyst for their recent strong advance is the signal from the new Administration that regulatory red tape … Continue reading Bank Stocks, MS
Month: February 2017
TSX Composite
In our discussion about warning bars, we did not have a look at the TSX composite index. Though the TSX composite has moved higher generally in sync with the popular U.S. market averages, its performance has been held back by the heavy exposure to resource issues such as metals and oils. The chart below by the … Continue reading TSX Composite
Looking For Clues
We've discussed the strength of the overall U.S. stock market numerous times as supported by the very positive internal statistics. Advancing versus declines, new highs versus new lows, numbers of stocks in the positive bullish percent column, all have been supportive of the strong advance since mid November. The lack of volatility is the real … Continue reading Looking For Clues
Russia RSX
The U.S. stock market continues upward with enormous momentum after breaking through the 20,000 level earlier this year. This is a fairly common phenomenon in markets seen over and over again. When a stock, or in this case an index nears a round number threshold, there is an initial ceiling as people tend to take … Continue reading Russia RSX
Tesla TSLA
Tesla has been one of the most compelling stories in the stock market over the past two to three years. The stock price moves have matched that excitement. As the company tries to wrest the auto industry away from the gasoline and gear paradigm to the IPhone on wheels model, skepticism and optimism have taken their turns at dominating the price … Continue reading Tesla TSLA
Amazon and Visa
Earlier this year, we made some observations about some large cap market leaders. One of those leaders was Amazon and the opinion we offered at the time was that momentum seemed to be flagging and we expressed that the high had probably been made. After a brief selloff, our skepticism was unrealized and AMZN has gone on to match … Continue reading Amazon and Visa
Exxon Mobil XOM
In January of 2016, just over a year ago, stock markets were in the throes of a pretty vicious mini bear market, or at least a very scary correction. Only one year later, we are now basking in the opposite environment wherein the popular stock indices appear to effortlessly make new highs every day with the buoyant tide lifting all boats. … Continue reading Exxon Mobil XOM
Canadian Small Caps, PHX
The buoyant overall equity markets have created positive spillover effects on Canadian small caps as well. The strong markets have resulted in dozens of smaller resource based issues that have been pulled along by presumptive optimism. We examine a small TSX resource company, PHX, that looks technically well positioned for a push higher. PHX is showing positive price action rising … Continue reading Canadian Small Caps, PHX
Cisco CSCO
One of the powerhouses of the Dow has finally broken free of the old supply area at 31.5 which has capped the progress since September of last year. At the same time, the DMI indicator has turned higher and money flow is moving in favor of the new trend. The SCTR accumulation statistic has yet … Continue reading Cisco CSCO
Nike NKE
Not all stocks have been lifted by the rising market; some are conspicuously lagging. In our commentary on Dow stocks earlier this year, we had pegged NKE to be an underperformer and even expected a move to the mid 40's before a turn would happen. In the past few weeks, NKE has managed to attract … Continue reading Nike NKE
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