Featured Journal Entry


Last week we discussed whether stock prices might be reflecting peak optimism. In that commentary we noted that while sentiment may be overly optimistic and a pickup in volatility would be totally normal, strong breadth measures suggest stocks still may have more upside. This week we tackle that same topic of peak optimism, but by...
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Journal Entries

November Preview: The Calendar is Ticking on Tax Reform
Along with the holiday anticipation November can bring, it is also historically a bullish time for equities. The S&P 500 Index is on pace to log another gain in October, marking 7 consecutive monthly gains on a price basis and 12 in a row on a...
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Five Reasons to Take a Look at Japan
It’s time to take a look at Japan. The Nikkei’s 15-day win streak, its longest on record, has our attention. When thinking about Japan, many who started following markets closely in the 1980s or later know nothing else besides year after year of...
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Slow Evolution of Consumer Spending
Consumer spending dominates the composition of the U.S. economy, trending at about 70% of gross domestic product (GDP). But how have consumers fared in the aftermath of the Great Recession and financial crisis that began 10 years ago? Data show that...
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Beige Book: Window on Main Street
BEIGE BOOK SUGGESTS CONTINUED MODEST ECONOMIC GROWTH The latest edition of the Federal Reserve’s Beige Book, released Wednesday, April 19, 2017, continued to deliver a positive view of the U.S. economy. The Beige Book is a qualitative assessment of...
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Which Breaks First, Stock Prices or Uncertainty?
Some significant technical trend lines are in play, so we take a closer look at market technicals and sentiment this week. The longer-term technicals continue to look strong, and an evaluation of global market breadth suggests the path of least...
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First Quarter 2017 Earnings Preview: Double Digits?
The S&P 500 is poised for double-digit earnings growth in the first quarter. Earnings season gets underway this week and corporate America is poised to show a strong increase in its bottom line. The S&P 500 appears likely to produce double...
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