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Week Ahead Magazine: How Quickly Sentiment Changes

Posted by David Templeton on Sunday, October 19, 2014 in Wealth Management | Comments (0)
At the start of this past week it seemed the bears were out in force and it led to selling pressure on the indices through Wednesday. However, trading on Wednesday may have been a capitulation day as the S&P 500 Index and Dow Jones Industrial average were down nearly 3% from their respective day's high and low. The market turnaround carried through to the week's end. The only index managing to gain on the week though was the small cap Russell 2000 index which was up 2.8%. Small caps have struggl...  Read more...

Equity Put/Call Ratio And VIX Indicating Oversold Conditions

Posted by David Templeton on Tuesday, October 14, 2014 in Wealth Management | Comments (0)
Although an equity put/call ratio over 1.0 is ideal for this sentiment indicator to indicate oversold market conditions, the current .91 level is an extreme one. Coupled with the spike in the VIX, today's market bounce is not a surprise.From The Blog of HORAN Capital AdvisorsFurther indications of an oversold market are the percentage of S&P 500 stocks trading above their 50 and 200 day moving averages. As the two charts note below, this technical indicator certainly indicates oversold market le...  Read more...
One factor that is a certainty at the moment is there is not a lack of strategy commentary around the future direction of the equity markets. The difficulty for investors is deriving an investment thesis from them since many different conclusions are drawn from the market's recent weakness.In a recent interview of Fran├žois Trahan of Cornerstone Macro by Consuelo Mack on WealthTrack, Trahan believes the next four years could be some of the best for U.S. equities. Trahan is a Founding Partner of ...  Read more...
Last week included two trading days to end the third quarter and three trading days to start the fourth quarter of 2014. In total the week was one where nearly all U.S. and international indices ended in the red. From a positive perspective strength was seen in U.S. markets after mid day on Thursday and this carried over into Friday. For the week though, the Russell 2000 index continues to struggle to find support and was down 1.3% and is now down 5.1% year to date. The other major U.S. indices ...  Read more...
In September of last years we provided some commentary and a link to an interview conducted by Consuelo Mack with Nancy Lazar on WealthTrack, Is Middle America The New Emerging Market? At that time Nancy Lazar stated the Middle America was the new emerging market. In an interview on WealthTrack last week with Nancy Lazar, she continues to highlight the strengths of the U.S. Nancy was a founding partner of ISI Group and recently started her own firm, Cornerstone Macro. She has been rated as a top...  Read more...

Investor Sentiment More Bearish

Posted by David Templeton on Saturday, October 04, 2014 in Wealth Management | Comments (0)
This past week's investor sentiment report by the American Association of Individual Investors (AAII) indicated investor bullish sentiment continues to decline. The bullish sentiment reading declined 6.42 percentage points to 35.42%. Individual investor sentiment is a contrarian indicator and is most predictive of future price action when the bullish sentiment is at extremes. If individual investors indicate a low level of bullishness, this would be one indication the equity market could be appr...  Read more...

September Returns: Practically No Place To Hide

Posted by David Templeton on Wednesday, October 01, 2014 in Wealth Management | Comments (0)
If there is one positive to the close of the month of September it is the fact investors can turn the page and set their sights on October and the fourth quarter. September has historically been the worst performing month in a calendar year and this is even truer when the prior month of August achieves returns greater than 3%. In fact, August of this year saw the S&P 500 Index return 3.8% and the Dow Jones Industrial Average return 3.2%. At the start of September, Ryan Detrick wrote an article, ...  Read more...

Dow Dogs Outperforming Dow And S&P 500 Indices

Posted by David Templeton on Monday, September 29, 2014 in Wealth Management | Comments (0)
As investor may realize, the Dow Jones Industrial Average has significantly underperformed the broader S&P 500 Index on a year to date basis. The S&P 500 Index is up 7.00% on a price only basis while the Dow Jones Index is higher by only 2.98%. Because the Dow index is a price weighted index, companies in the index with higher stock prices have a larger impact on the Dow index performance. Consequently, higher priced stocks in the Dow have trailed the broader market. For example,Boeing (BA), wit...  Read more...

Week Ahead Magazine: Fear Headlines - September 28, 2014

Posted by David Templeton on Sunday, September 28, 2014 in Wealth Management | Comments (0)
After reading some of the market headlines last week, one would have thought the market experienced some type of terrible correction. A couple of headlines from CNBC that are shown below mention the market "springs back after rout" and market "sinks, fear surges." For the week, the S&P 500 Index was down 1.4% while the Dow Jones Industrial Average declined only 1%.From The Blog of HORAN Capital AdvisorsOn Thursday, September 18, 2014, the S&P 500 Index hit a closing high of 2,011.36. So, after t...  Read more...

Buybacks Decline 27% In Second Quarter

Posted by David Templeton on Saturday, September 27, 2014 in Wealth Management | Comments (0)
Earlier this week S&P Dow Jones Indices released their buyback report for the S&P 500 Index. Of note was the 27% decline in buyback value in the second quarter versus the first quarter of 2014. Even on a year over year basis (Q2 2014 versus Q2 2013) buybacks declined 1.6%. Some important highlights from the buyback report:"For the 12 months ending June 2014, S&P 500 issues increased their buyback expenditures by 26.6% to $533.0 billion from the $420.9 billion posted during the corresponding twel...  Read more...
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