Signs of Stabilization Ahead of the Spring Selling Season – Housing Market Review

stabilization (Credit: Washington State Office of Transportation on Flickr)

Housing Market Intro and Summary In my last Housing Market Review, I laid out the case for bracing for what 2023 would bring even as “faint signs of a bottoming for sentiment have started to appear.” The latest housing data and industry expectations suggest that the market is well-braced for 2023. The signs of bottoming … Read more

Yet Another Jobs Report Takes the Shine Off A Post-Fed High – The Market Breadth

shine off (Credit: christophercjensen on Flickr)

Stock Market Commentary: On cue, the stock market groaned at fresh signs of economic strength, this time from another strong jobs report. The recession Wall Street wants is on hold yet again. The bullish intent that charged out of the wake of the Federal Reserve’s last statement on monetary policy made a sharp u-turn. The … Read more

Bullish Intent Extends Overbought Conditions – The Market Breadth

bullish intent (Credit Demitry_S on Flickr)

Stock Market Commentary: The stock market oozed with bullish intent as it pushed its way through the latest Federal Reserve statement on monetary policy. While Jerome Powell made sure to stick to the script and introduced no surprises to the market, he was surprisingly reluctant to underline the Fed’s hawkishness. The market made a mile … Read more

Overbought Conditions Steepen With Bullish Anticipation – The Market Breadth

steepen (Credit: Skyrush climbing the lift hill by Intamin10 on Flickr)

Stock Market Commentary: The stock market had quite a bullish week especially considering another Federal Reserve meeting is right around the corner. The week started with a push into overbought conditions and buyers proceeded to slowly steepen overbought conditions the rest of the week. I am quite surprised by this bullish anticipation ahead of the … Read more

It’s Been 10 Months Since the S&P 500 Last Did This – The Market Breadth

10 months (Credit: Filling in the gaps: ‘America’s Battalion’ begins final pre-deployment training exercise by DVIDSHUB on Flickr)

Stock Market Commentary: The S&P 500 defended support at its 200-day moving average (DMA) for the first time in 10 months. The index was down 1.7% at its lows where it pierced its 200DMA and looked ready to challenge its 50DMA. Buyers stepped in at that point and proceeded to reverse the entire loss on … Read more