Technicals

Good Breadth

Jan 23, 2023 2 min read paid

One of the best market timers we know is Joe Feshbach. We were colleagues at Prudential-Bache Securities during the 1980s. I’ve been summarizing his views on a weekly basis since the beginning of last year. Here are his latest thoughts he shared with me, this past weekend: “The good news is the market got bumpy as predicted, and it lasted a whole two days. The chart I’ve been

Ed Yardeni

Getting Technical

Jan 17, 2023 1 min read paid

Here is Joe Feshbach's latest trading call: "The market has rallied according to plan accompanied by improving breadth numbers. The put/call ratio has moved back to neutral (chart). I would’ve preferred more skepticism on the rally. So while the market should eventually get to the upper end of its trading range it could get a bit bumpy soon. The chart I alluded to last week

Ed Yardeni

Feshbach's Market Call

Jan 6, 2023 2 min read paid

We asked Joe Feshbach, our go-to market trading maven for his latest thoughts on the stock market as the new year begins. Here they are:

Ed Yardeni

2023: Another Year of Living Dangerously?

Dec 26, 2022 2 min read

With the benefit of hindsight, the title of this QT certainly applied to 2022. It was a tough year for investors. The consensus view is that 2023 could be as tough: (1) A December NYT opinion piece by Peter Coy is titled, "A Strong Signal That Recession Is Looming." He focuses on the inverted yield curve, which often in the past accurately predicted a financial crisis that morphed

Ed Yardeni

Technicals Remain Bullish

Dec 8, 2022 1 min read

Jitters about a consumer-led recession over the past few days pushed the CBOE equities Put/Call Ratio up to 1.46 yesterday (chart). That's a very elevated reading and suggests that there is too much pessimism. It favors a yearend rally rather than a yearend crash. There is also still lots of bearishness in Investors Intelligence Bull/Bear Ratio. It rose to 1.34 this past week (chart)

Ed Yardeni

Feshbach's Market Call

Dec 5, 2022 1 min read paid

Before Friday, we had four excellent put/call ratios in a row and six out of the last 7 day excluding Friday, which was the first poor reading. The market also had a noticeable improvement in breadth on the latest rally.

Ed Yardeni

Calm Waters For Now

Dec 3, 2022 2 min read paid

The S&P 500 recovered nicely on Friday after it reacted badly to the morning's stronger-than-expected November payroll report, especially the higher-than-expected gain in wages. The knee-jerk reaction was that the end of the Fed's monetary tightening cycle would take longer to occur. But by the end of the day, the S&P 500 was down just 0.12% and remained above its 200-day

Ed Yardeni

Moon Shot?

Nov 30, 2022 2 min read

Fed Chair Jerome Powell was a bit less hawkish today. He said he still thinks there is a "path to a soft or softish" landing for the economy. He also suggested that the next hike in the federal funds rate on December 14 is likely to be 50bps rather than 75bps. So stock prices exploded to the upside. The DJIA soared more than 735 points, or 2.2%

Ed Yardeni

A Happy Day Is Here Again For Stocks & Bonds

Nov 10, 2022 1 min read

Stocks and bonds rallied and the dollar fell after today's release of October's better-than-expected CPI. The headline rate was 7.7% y/y, lower than the 7.9% consensus and below September's reading of 8.2%. Leading the way down has been the CPI durable goods inflation rate, as we've been expecting (chart). We've been thinking that the bear market

Ed Yardeni

Stock Market Sentiment Readings Mostly Bearish

Nov 10, 2022 2 min read paid

The Investors Intelligence Bull/Bear Ratio remained below 1.00 this week for the eighth consecutive week, holding at 0.96 for a third week, after falling steadily from 1.15 in mid-September to 0.57 four weeks ago—which was the lowest since March 2009 (chart). Bullish sentiment dipped for the second week to 35.2% after increasing the prior two weeks from 25.0% (the fewest bulls since

Ed Yardeni

Powell's Hawkishness Boosts Bearishness

Nov 3, 2022 1 min read paid Featured

Fed Chair Jerome Powell's press conference might have signaled his latest pivot, but this time it might be to his peak hawkishness. He said that the Fed will raise interest rates until there is convincing signs that inflation is abating, which hasn't happened so far. There will be no pause along the way and certainly no easing. The terminal federal funds rate in December's

Ed Yardeni

Mid-Term Elections Tend To Be Consistently Bullish

Oct 20, 2022 1 min read

In Tuesday's QuickTakes, we observed that since 1928, the S&P 500 fell 1.1% on average during September, by far the worst performance of any month. October, November, and December were up 0.5%, 0.6%, and 1.4% on average. We concluded: "Yes, Virginia, there really is a Santa Claus rally. Apparently, it tends to be even more likely during mid-term election years."

Ed Yardeni

Page 6 of 7

Good Breadth

Getting Technical

Feshbach's Market Call

2023: Another Year of Living Dangerously?

Technicals Remain Bullish

Feshbach's Market Call

Calm Waters For Now

Moon Shot?

A Happy Day Is Here Again For Stocks & Bonds

Stock Market Sentiment Readings Mostly Bearish

Powell's Hawkishness Boosts Bearishness

Mid-Term Elections Tend To Be Consistently Bullish