Stock Rally Accelerates
The S&P 500 sprinted up to another all-time-high yesterday after Trump’s address to congress was received well by investors. The technical trend remains decidedly bullish and the pace has recently accelerated.
Author Archive for: Tyler Richey
Entries by Tyler Richey
What The Oil Market Internals Are Telling US
While active, front month oil futures are threatening to break out to new highs for the year, back month futures are in clear downtrends, which is longer-term bearish for the energy complex.
10 Year T-Note Yield Remains Pinned
The 10 year yield remains effectively pinned between 2.30% and 2.60% as Fed policy outlook is as unclear as current fiscal policy outlook.
Natural Gas Futures Plunge
Natural gas futures plunged 9% to settle at a 6-month low yesterday as speculative longs “threw in the towel” on bets that colder than average temperatures might spur elevated demand in the back half of winter.
S&P Hits Fresh All-Time-Highs
The S&P 500 gapped up to another all-time-high yesterday, underscoring the very strong bull market in stocks. But, the current pace of gains in unsustainable and equities are due for a phase of consolidation.
Stocks Reach New Highs
The S&P 500 is now more than 6% above its 200 day simple moving average. And while the trend is clearly still bullish, the complacency in the market paired with the overextended conditions raise the chances of a pullback.
10 Year Note Yield Continues to Fall
The 10 Yr T-Note yield remains below the key 2.50% level and a considerable distance from the long term regression line which suggests a further correction is very plausible.
Bond Bubble
A friend who runs a successful tax lien fund called me this past weekend with an interesting story. The portfolio manager of one of the biggest institutional investors, a $2-plus billion multi-family office on the West Coast, called him last week and told him to expect a bigger allocation soon because he (the PM of […]
Dollar Break-Out
The dollar index violated the 2017 downtrend yesterday which could mark the beginning of the next upswing for the greenback.
Gold Update
Gold futures violated a longstanding downtrend resistance line yesterday as well as established above the $1235 resistance area; two bullish technical developments.