The Near Term Direction Of The Stock Market

There seems to be consensus that the stock market, as represented by the S&P500, “bottomed” during its August 9th low at 1101.54.  Here is the daily 1-year chart of the S&P500 for reference: (click on chart to enlarge image)(chart courtesy of StockCharts.com) – Was that August 9 low a “true bottom” – i.e. one that … Read more The Near Term Direction Of The Stock Market

Financial Stocks – Update Concerning Poor “Price Action”

On June 29 I wrote a blog post titled “Financial Stocks – Notable Price Action.” I continue to believe that the “price action” of various financial stocks is disconcerting.  I view the poor performance of these financial and brokerage stocks to be one indicator among (very) many that serves as a “red flag” as to … Read more Financial Stocks – Update Concerning Poor “Price Action”

The Significance Of The 1220 Level On The S&P500

In the June 16 post (“The S&P500 Since 2007”) I displayed an annotated chart of the S&P500. In that post I stated the following: As one can see from the chart, one interpretation that can be made is that of a (completed) “Cup & Handle” chart formation as denoted by the green line.  I have … Read more The Significance Of The 1220 Level On The S&P500

The Stock Market – Various Technical Analysis Aspects

The following chart is annotated by Ron Walker, of thechartpatterntrader.com : (click on chart to enlarge image)(chart courtesy of StockCharts.com) As one can see, it is a chart of the S&P500 on a daily basis since March of 2009.  Yesterday’s closing price of the S&P500 (1286.94) is very near the black rising trendline from the March … Read more The Stock Market – Various Technical Analysis Aspects

Financial Stocks – Relative Price To Overall Stock Market

In the June 29 post (“Financial Stocks – Notable Price Action”) I wrote the following: I think that the relatively poor “price action” of various financial stocks is notable.  It is one of many current indications that overall stock market health is not as strong as a casual glance at the major indices would indicate. … Read more Financial Stocks – Relative Price To Overall Stock Market

Financial Stocks – Notable Price Action

I think that the relatively poor “price action” of various financial stocks is notable.  It is one of many current indications that overall stock market health is not as strong as a casual glance at the major indices would indicate. Below is a chart featuring the XLF (the financial ETF) on a daily basis since … Read more Financial Stocks – Notable Price Action

Analyst And Strategist S&P500 Earnings Estimates For 2011 & 2012

On June 27 The Wall Street Journal published an article titled “Stocks Fall.  Optimism Stands Tall.” As seen in this article: Analysts expect the S&P 500 companies to earn $99.86 a share in aggregate this year, up 2.3% from their April 1 estimate, according to FactSet. Strategists expect $95.24, according to John Butters, senior earnings … Read more Analyst And Strategist S&P500 Earnings Estimates For 2011 & 2012

S&P500 Price Projections – Livingston Survey June 2011

The June 9, 2011  Livingston Survey (pdf) contains, among its various forecasts, a S&P500 forecast.  It shows the following price forecast for the dates shown: June 30, 2011   1340 Dec. 30, 2011   1380 June 29, 2012  1413.5 Dec. 31, 2012    1463.5 These figures represent the median value across the 35 forecasters on the … Read more S&P500 Price Projections – Livingston Survey June 2011

Standard & Poors S&P500 Earnings Estimates For 2011 & 2012

As many are aware, Standard & Poors publishes earnings estimates for the S&P500.  (My previous posts concerning their estimates can be found in the under the S&P500 Earnings tag) Currently, their estimates for 2011 add to the following: -From a “bottom up” perspective, operating earnings of $98.06/share -From a “top down” perspective, operating earnings of $94.89/share … Read more Standard & Poors S&P500 Earnings Estimates For 2011 & 2012