Gene Peroni's Daily Podcast
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It was 26 years ago that I first appeared on Wall Street Week with Louis Rukeyser and I was billed the “No April Fool.”
Rotation was on full display in yesterday’s session, a session that saw the Dow and S&P 500 rally into uncharted territory…
The stock market has been consolidating over the last three trading sessions, essentially since its initial, positive knee-jerk reaction to the Fed’s announcement last week that it may cut rates up to three times this year.
The S&P 400 Midcap Index is up just under 8% year to date. That puts its performance in close proximity to the S&P 500 and the Nasdaq. I think this is important because…
Yesterday’s market was the latest example of how difficult, if not futile, it is to try to sharp shoot near-term support and resistance targets, and to set objectives for the major market indices.
This is a Fed-decision Wednesday. The Fed due to announce its decision on interest rates early this afternoon and perhaps more importantly investors will be awaiting the accompanying statement…
The CBOE Volatility Index (“fear index”) has been in a basic downtrend since October 2022, but since then there have been several instances where it has established a short-term base…
Several weeks ago, I mentioned that it seemed to me that the CBOE Volatility Index was in a bottoming formation, and that I believe continues to be the case…
March has ushered in a bit more volatility. I think this is part of that micro-cycle factor…
Energy is the “E” in “THEM” — an acronym I first mentioned nearly 20 years ago to describe what I believed was the core leadership in the market at the time.
AI stocks snapped back sharply yesterday, but most failed to move above the level set in last Friday’s session.
Yesterday I commented on the high-volume reversals that we saw in a number of the AI stocks and other aggressive growth areas…but I don’t think we’ve seen a major top in that area of the market.
The seemingly unrelenting rally in AI stocks may have faced its first technical challenge in last Friday’s session.
Investor sentiment numbers can be interpreted to suit one’s narrative; for instance, last December I noted that with a bullish consensus rising above the 50% level…
I mention frequently how important it is to consider the underlying market and regarding the stocks individually and letting them really guide where the real strengths of the market are with respect to leadership.
Over the years there have been a number of liquidity-driven rallies in the stock market, and these were often the result of a significant event; for instance, in the late 1990s...
February delivered balanced performances among the major market indexes: The Russell 3000, S&P 500, Nasdaq & Dow Jones Industrial.
In recent reports, Ive been mentioning the potential for heightened volatility and a market that could be a bit more reactive to day-to-day events and news items.
It seems that at least for the moment the buying frenzy in AI stocks may be cooling off, and that’s not such a bad thing since…
It probably isn’t difficult to make the case that the market is somewhat overbought given the gains that we’ve seen since last October, and even since the beginning of this year.
Yesterday’s big market rally featured technology, and more specifically, the AI stocks. We did see quite the enthusiastic buying…
A forefront AI company delivering a huge earnings beat after yesterday’s close.
Selling could become a bit contagious over the near term, that is as traders sense that the major market indices may be leveling off, or even rolling over a bit…
The advanced decline lines among the major market indices have exhibited steadily improving trend lines since the October lows of last year.
I think that there are increasing signs that we could see the market enter into a more extended consolidation than we’ve seen in a couple of months. This is not all bad, seeing how some of these aggressive growth stocks have…
Logic would seem to dictate that some restraint might be warranted at this point. The Dow and S&P 500 both perched at new all-time highs.
It’s Groundhog Day in Pennsylvania, but it’s anything but on Wall Street. The market continues to provide some exciting action here.
History has a way of repeating itself and I believe this statement is especially true when it comes to the stock market.
As of yesterday’s closing, and ahead of the last trading day of January, the performances of the Nasdaq and S&P 500 are very similar. In fact, they’re within 7 basis points of each other.
