Equity Market Recovering Like October 2014

 August 27 2015     David Templeton
On Tuesday I wrote about the bulls waiting for that elusive equity market bounce. The wait was short as the market snap back over the last two days qualifies for that bounce. Investors are likely contemplating the market's direction from here.A "V-type" pattern seems to be forming just as the market traced out late last year. As the below chart shows, the contraction from July to October of 2014 w...

Awaiting The Elusive Equity Market Bounce That Holds

 August 25 2015     David Templeton
The stock market bears have been calling for this current pullback for what seems like years. Now the bulls are looking for the elusive bounce that "holds" and signals another move higher in the market. After the close on Friday, I noted the oversold market conditions and a potential bounce that may follow. Three days into this potential "bounce" scenario, the market has failed to cooperate. This ...

Bears Awaken From Worst Nightmare

 August 24 2015     David Templeton
With today's market close the S&P 500 Index and the Dow Jones Industrial Average both are in correction territory, down 10+%. The S&P 500 Index is down 11.15% from its closing high on 5/21/2015 and the Dow Jones Industrial Average is down 13.33% from its closing high on 5/19/2015. It is safe to say the bears have awakened from their worst nightmare as the markets moved higher, nearly unabated, for...

Nearly 70% Of S&P 500 Stocks In Correction Or Bear Market Territory

 August 23 2015     David Templeton
Last week's market pullback did not spare too many equities from the draw down. As of the close on Friday, 30.3% (152 issues) of S&P 500 stocks are now down greater than 20% from their 52-week highs and another 39.0% (196 issues) are down between 10% and 20% from their 52-week highs. In total nearly 70% of stocks are in correction or bear market territory. Below is a table noting this breakdown.Fr...

VIX Futures Curve In Backwardation, Indicative Of A Near Term Market Bounce?

 August 22 2015     David Templeton
With Friday's market sell off, the VIX curve went into steep backwardation at 4.56. VIX backwardation refers to the situation when the near-term VIX futures are more expensive than longer-term 3-month VIX futures (VXV). This is an indication traders expect volatility in the future to be lower than it is now. Historically, when this occurs, short term market rallies tend to result from this technic...

Oversold Technical Indications, Market May Be Due For A Bounce

 August 21 2015     David Templeton
The market action on the last two days of this week was not kind to equity investors. The Dow Jones Industrial Average closed down 530 points today and closed the week in correction territory, i.e., down 10% from its May high. The S&P 500 Index has not reached correction territory though, down 7.5% from its closing high on May 21st.From The Blog of HORAN Capital AdvisorsThe pullback this week in t...

High Beta Underperforming Low Volatility

 August 19 2015     David Templeton
As the market continues to trade sideways in its, seemingly, directionless trade, it is helpful to observe various intermarket relationships and technical indicators to see what exactly is driving returns and to check-up on the overall health of the market.  One interesting dynamic of the market this year is the underperformance of high beta stocks in relation to low volatility stocks.  In a typic...

The Answers to Frequently Asked Questions about Financial Wellness

 August 19 2015     Anna Pfaehler
Part of my role at HORAN is to act as a resource to our advisors and employees. They often come to me with quick, one off questions. Here’s a roundup of some of the questions I’ve answered recently, in case you’re wondering too: Q. Can someone contribute the maximum to both a Roth IRA and traditional IRA in a year? A. No. The contribution limit, $5,500 in 2015 with a $1,000 catch-up after age 5...

Some Market Technicals Looking More Bullish

 August 18 2015     David Templeton
When looking back to mid-October of last year, the S&P 500 Index has enjoyed a nice move higher from the mid October 2014 pullback: up 12.9%. However, since the beginning of March the S&P 500 Index has traded sideways within a range from around 2,044 to 2,130 and is down fractionally since March 2nd.Since the October pullback, the Accumulation Distribution Line has manged to trend higher yet movin...

Market Volatility In Perspective

 August 14 2015     David Templeton
It seems easy to forget what equity returns were like following the financial crisis in 2009. The significance of the contraction has certainly remained forefront in investors' minds. Just looking at the below chart reminds one of the damage done to portfolio values through this time period. At its worse, the 1-year return for the S&P 500 Index was negative 48.8% looking back from March 5, 2009. A...
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