Since the beginning of the year, the S&P 500 Index (IVV) has been trading within a range of 150 or so points and has tested or broken the 50-day moving average a total of 11 times, but has yet to test support at the 200. If it can't hold support at the 2100 level, we might finally be looking at just that, a test of the [...]
6-14-15
"While most investors were preoccupied with deflation, related to last year's plunge in oil prices, and the seemingly hopelessness of quantitative easing, a stealth recovery in private sector global credit demand was underway. We examined prospects for credit growth..which highlighted some surprising developments relative to the economic pessimism that had caused government bond yields to massively undershoot:" "The monetary transmission mechanism [...]
6-7-15
6-7-15
The S&P 500 Index ((IVV)) zig-zagged with no certain direction for the first part of the year, gaining just under 3% during this somewhat volatile period. The index sits right below support at the 50-day moving average. It must get above the 50-day MA while also breaking through the 2120 level in order to break to new all-time highs. If not, look for the [...]
While the S&P 500 Cap-Weighted Index ((IVV)) surged to new all-time highs in the last week, the index has been trading within a tight range since February. Is this a sign of a tired market ready to correct? Or is it one of a market consolidating in preparation for a new move higher? The index has been straddling the 50-day moving average [...]
The difficulty of being a central banker in Europe is that you face the challenge of dealing with the structure of a monetary union with no fiscal union. At any given time, the economies of different countries will require different monetary policy. So, while Greece may be begging for easy monetary conditions, Germany may not require or even desire such loose [...]
Japanese bank stocks surged over 50% from December 2012 through the first half of 2013. Since, they have been in what one might call a consolidation phase. The initial surge coincided with expectations of the effects of Abenomics. The consolidation was a 1.5 - 2 year wait and see period, somewhat of a battle between believers and doubters. Now, there has [...]
5-24-15
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