The Scars Run Deep

“The 2007 financial crisis cost a ‘kings ransom’ to repair in gold and confidence.”

A recent Gallup poll showed that the percentage of U.S. adults invested in the stock market is near a 20-year low. With the S&P 500 Index at new all-time highs, this lack of participation in stocks is quite surprising.

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And, as a contrarian indicator, quite bullish. 

Hat tip LPL Research

It’s Still Very Quiet Out There

So far 2017 has been the least volatile start to a year ever.  The S&P 500 has averaged an intra-day range(high to low)of just 0.56% after the first 100 days of the year.  The previous lowest first 100 days was back in 1995 at 0.69%.

And Friday was especially quiet.  Going back to 1990 there have only been eight days when the S&P 500 had a small range than yesterday’s 0.19%.  In fact Friday’s range was the tightest since March 29, 1996.

Hat tip Ryan Detrick

 

 

 

GLD

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Big Tech Is King

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The S&P 500 is up roughly 8% so far this year while tech shares are up a whopping 20%.  Strip out the huge tech gains and the SP 500 is only up a rather uninspiring 1.4%.  Interesting…

Hat tip 13D Research

Happy Birthday!

To the Dow Jones Industrial Average.  Today in 1896 the DJIA was first published:

Dow historical

Hat tip Jim O’Shaughnessy

 

Quite A Month For The Nasdaq Composite

May has been a great month for the major tech index.  The Nasdaq Comp is well on its way to its 16th positive close this month(out of 19 sessions).  That’s a win percentage of 84% marking the best monthly performance since September 1996.  The most consistent month of gains?  In August of 1979 the Nasdaq was green 22 of 23 sessions(95%). 

Don’t tell Paul Krugman!

The winner of the Nobel Prize in Economics, immediately after the election:  “Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.”

More gold:  “So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.”

Here’s a link to the infamous New York Times opinion article from Mr. Krugman, who by the way, has over two million followers on twitter:  What Happened On Election Day

SPY

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Jobless Claims Continue To Decline

The last time the four week moving average(initial jobless claims)was this low was 1973:

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Hat tip Bespoke Research

Home Prices Are Hot

Home prices in the U.S. have reached new all-time highs this week.  Now 3% above the 2007 peak, up 5.5% over the past year:

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Hat tip Charlie Bilello

 

AAPL

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As Money Managers and Traders, the mission of our Blog and Radio Show is to go on record and further educate our readers and listeners in technical analysis and proper money management across all asset classes.

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