Stock Market Outlook for July 13, 2010: Big Decline Ahead?

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Not much of note today, as we saw a very lazy summer trading day.  Are some fireworks just around the corner? Some thoughts for the rest of the trading week: NYSE decliners led advancers today by about 2 to 1 (Source: Seeking Alpha) – a sign of things to come? Earnings season is kicking off […]

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Last week, we picked up a story courtesy of Bespoke Investments that showed just 4% of S&P 500 stocks were above their 50-day moving average – a level not even seen during the March 2009 lows! So we thought a stock market bounce might be on tap – and sure enough, this week we got […]

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Stocks entered this week in an extremely oversold condition, with overwhelmingly bearish sentiment amongst investors.  Just 4% of stocks in the S&P 500 sat above their 50-day moving average heading into the 4th of July holiday – a number even more dismal than the March 2009 lows! Today we got a sharp rally in the […]

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Last week, the S&P 500 collapsed through it’s 1040 support line, which had been tested twice before, indicating that there might be major PAIN ahead for stocks. This morning, stocks opened UP – but found resistance once again at 1040…this time, to the ceiling side. Before the weekend holiday, Todd Harrison of Minyanville presciently mused […]

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The recent stock market decline has not only been sharp – shedding the year’s worth of gains in a matter of weeks – but it’s also had some very impressive breadth. Bespoke Investment reports that just 4% of S&P 500 stocks current sit above their 50-day moving average.  So, everything is getting clobbered! The percentage […]

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Today, US stocks were not successful in issuing a counterpunch to yesterday’s bloodbath, when there were 11 stocks down for every 1 up.  Stocks staged a meager rally after opening – only to swoon late and close at new lows for 2010. As you can see from the chart below, the S&P 500 peaked in […]

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For a long while, it felt like the resumption of the stock market decline would never come.  But now, it appears that US equities – the final holdout of the ’09-10 “reflation rally” – are once again under some serious pressure. When we last chatted, we wondered if the S&P’s kiss of the 1122 mark […]

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Today we got the stock market pullback that we anticipated yesterday (read that post here).  As I write this a few minutes before the closing bell, the S&P 500 is down about 13 points, now trading right around the 1100 mark. According to the Associated Press, volume is lighter than Monday’s session – with volume […]

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Stocks gapped higher at the opening bell this morning on news that China would (slowly) allow the Yuan to float.  The “Renminbi Rally” was to be short lived, however.  The S&P briefly stuck its nose above the 1130 mark, and quickly reversed skate to finish the day in the red.  Volume was anemic, once again.Is […]

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After Friday’s close, we muttered about our current S&P 500 short position – and while the entry was certainly mistimed from a short term perspective, we do expect this position to be a winner eventually.  At least that was our thinking going into a nice summer weekend of beer drinking and pool carousing. And now […]

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About Author

Brett

Hi, I’m Brett Owens – and I’m a financial junkie. My “problem” started incollege, when I got a little dose of the stock market – man, was I hooked…in no time, I was reading the Wall Street Journal religously.

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