Technicals

Scared Cat Bounce?

Mar 14, 2025 3 min read paid

The S&P 500 rebounded nicely today in the morning after falling into correction territory yesterday (chart). Was yesterday the bottom? It might have been based on sentiment indicators. On a fundamental basis, President Donald Trump (a.k.a., Tariff Man) didn't tweet about tariffs today after doubling down on Thursday. "I'm not going to bend at all," Trump said when asked about

Ed Yardeni
Eric Wallerstein

MARKET CALL: Bond Vigilantes Spooking Stock Jockeys

Jan 12, 2025 2 min read paid

Last year, during August, we anticipated that US bond yields would rebound. Indeed, they have. During December, we expected a stock market correction at the start of the new year. So far, there has been a significant pullback in almost all of the major stock market indexes since the S&P 500 peaked at a record high on December 6, 2024 (chart). Some of these pullbacks, which are 5%

Ed Yardeni
Eric Wallerstein

Some Air Coming Out Of Post-Election Balloon

Dec 30, 2024 3 min read paid

The post-election rally has been losing steam since early December (chart). The S&P 500 peaked at a record high on December 6. From a sentiment perspective, there have been too many bulls. From a technical perspective, breadth has been narrowing again as a few LargeCap momentum stocks continue to outperform. From a fundamental perspective, while earnings growth should remain bullish, the Fed may be done easing monetary policy

Ed Yardeni
Eric Wallerstein

MARKET CALL: Game of Drones

Dec 15, 2024 3 min read

Look up in the sky. It's a bird. It's a plane. It's Superman! Nope, it's lots of drones flying over New Jersey, New York, and Maryland typically between 6 p.m. and 11 p.m. They are reportedly the size of an SUV, so they aren't likely to be owned by hobbyists. Some folks are getting panicky about all these

Ed Yardeni
Eric Wallerstein

MARKET CALL: Will Trump 2.0 Be Volatile?

Dec 8, 2024 3 min read paid

In recent conversations with our accounts, many of them said that the financial markets may be more volatile under Trump 2.0 over the next six months than they were over the past 12-18 months. In Thursday's QT, we observed that contrarian indicators are showing that there are too many bulls, which is bearish. A couple of prominent and vocal permabears recently conceded that the bulls have been

Ed Yardeni
Eric Wallerstein

MARKET CALL: The Trump/Musk/Vivek/Santa Rally

Dec 1, 2024 3 min read paid

For better or worse, Trump's New World Order will certainly be different from Biden's Old World Order. Moreover, the globalists of the World Economic Forum, headed by Klaus Schwab (and Greta Thunberg), are about to be seriously challenged by Trump's anti-globalists. Klaus has been calling for the "Great Reset" including a "stakeholder economy," replacing fossil fuels with solar and wind

Ed Yardeni
Eric Wallerstein

MARKET CALL: Powell's Latest Pirouette

Nov 17, 2024 3 min read

Fed Chair Jerome Powell is an accomplished danseur. His pirouette's are masterful. He did another such pivot on Friday in prepared remarks for a speech [starts at 19:00] to business leaders in Dallas. He said that, "the economy is not sending any signals that we need to be in a hurry to lower rates." That's what we've been saying since Powell

Ed Yardeni
Eric Wallerstein

Market Call: Happy Second Birthday To The Young Bull!

Oct 13, 2024 2 min read

The S&P 500's latest bull market turned two-years old on Saturday. It started on October 12, 2022. Sentiment was extremely bearish back then (chart). There were widespread fears of a recession caused by the tightening of monetary policy. Those fears lingered through October 4 of this year, when a stronger-than-expected employment report once again confirmed that the young bull correctly discounted that inflation would fall while

Ed Yardeni
Eric Wallerstein

Market Call: The Worst & The Best Of Times

Sep 15, 2024 2 min read

A Tale of Two Cities by Charles Dickens famously begins, ''It was the best of times, it was the worst of times.'' Two weeks ago was the worst week for the stock market so far this year. Last week was the best week for the stock market so far this year. In the July 28 Quicktakes, we wrote: "Our hunch is that the stock market

Ed Yardeni
Eric Wallerstein

Market Technicals: Is Sentiment Bearish Enough To Signal A Market Bottom?

Sep 8, 2024 2 min read

We asked Joe Feshbach for an update of his take on the stock market from a trading perspective: "Even with the recent decline in the stock market, I’m still recommending a cautious/defensive approach to stocks. My two biggest concerns have been the optimistic levels that the sentiment indicators have reached and the parabolic moves in technology charts followed by their significant recent declines. We’ve had a

Ed Yardeni
Eric Wallerstein

Market Call: Carry-Trade Unwind Part II

Sep 8, 2024 3 min read paid

Something doesn't make sense. Why are stock prices falling when the Fed is set to lower interest rates to avert a recession and to stop the unemployment rate from rising by boosting economic growth? We had a glimpse of the answer in early August: The carry trade is still unwinding. Expectations that the Fed will lower our interest rates, while the Bank of Japan raises their interest rates

Ed Yardeni
Eric Wallerstein

Market Call: September Is Here. What Could Possibly Go Wrong?

Sep 2, 2024 3 min read paid

September has a history of being the worst month of the year for the stock market (chart). It's hard to imagine that it will be a bad one this year since the Fed is widely expected to start its latest monetary easing cycle on September 18 with a 25bps cut in the federal funds rate (FFR). In addition, the FOMC will release its latest Summary of Economic Projections

Ed Yardeni
Eric Wallerstein

Page 1 of 7