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.


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





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Big Tech Is King


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


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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:


Hat tip Charlie Bilello



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