Stocks spent virtually all of Thursday near unchanged in quiet holiday-like trade, as markets ignored economic data and geopolitical news (Russian sanctions). The S&P 500 dipped a slight 0.03%. The S&P 500 pulled back for a second day yesterday but importantly held our initial support level at 2246 mentioned on pg. 5 of the Sevens […]
Natural gas futures continued to climb yesterday as weather reports are forecasting colder than average temperatures well into 2017 which is raising prospects for more larger than average supply draws.
Here is an excerpt Stock Market Update from The Sevens Report. Stocks rallied in quiet trade to start the final week of the year yesterday, as the Nasdaq reached a new all-time high. The S&P 500 gained 0.22% on the day. Futures were flat early yesterday, but once the bell rang stocks jumped higher out […]
While the 20,000 mark remained elusive in the Dow Jones Industrial Average, the Nasdaq Composite Index rallied to fresh all-time highs yesterday.
Natural gas surged nearly 10% yesterday thanks to speculation that colder temperatures across the country will boost heating demand and in turn, draw down elevated inventories.
Stocks rallied modestly Tuesday, as a mild resumption of the Trump trade carried the major averages close to all-time highs. The S&P 500 rose 0.36%. Stocks were higher from the outset Tuesday as the BOJ was, on balance, slightly dovish and data from Europe was good (German PPI was hot as was British Distributive Trades). […]
Can Trump Fire Janet Yellen? I was asked that question at a Christmas Party on Saturday night by a local real estate agent. He’s not an active investor (he has an FA) but he does follow the markets, and he was nervous that Trump may fire Yellen because Trump said he thinks interest rates are […]
The S&P 500 printed its third “inside day” in a row yesterday which suggests a very indecisive market. Generally speaking, the trend preceding any consolidation patter such as inside days, is more likely to continue than reverse out of the pattern.
The Dow Industrials showed signs of technical weakness in the form of a bearish “outside reversal” on Wednesday that could be forecasting a profit taking pullback in the index. A violation of 19,748 would be near-term bearish from a charting standpoint.
The 10 Year Note yield screamed to a more than 2 year high yesterday in response to the more hawkish than expected Fed Announcement.