Category Archives: Portfolio Strategy

Fifty-Eight Days and Counting

Prior to today’s opening bell, futures contracts on the S&P 500 Index (SPX) indicated the index was set to open lower by nearly one-percent. However, the SPX rallied for most of the day to close lower by 0.41% to 1964.68. … Continue reading

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Notable Economic Releases: July 7 – July 11

Monday, July 7, 2014: 08:30 AM ET Gallup US Consumer Spending Measure (June) Tuesday, July 8, 2014: 07:30 AM ET NFIB Small Business Optimism Index (June) Wednesday, July 9, 2014: 02:00 PM ET FOMC Minutes (June) Thursday, July 10, 2014: … Continue reading

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The First Quarter of 2014 Grew at a Negative 2.93%

Economists and the media spent most of the day making excuses (e.g. weather) for the final revision to Q1 GDP as “old news”. In fact, some investment banks have already increased their Q2 forecast for GDP because, well, the first … Continue reading

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Historic Levels After the FOMC Meeting

The S&P 500 Index climbed 15 points, or 0.77%, to close at a record high of 1956.98. The 10-year Treasury Note yield fell 42 basis points to settle at 2.61%. The VIX dropped 12.02% to close at 10.61; a level … Continue reading

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10-Year Treasuries Yield Their Lowest in 11 Months

The S&P 500 Index closed at 1909.78, -2.13 points or -0.11%, after struggling to hold onto gains late in the session. The index is higher by 3.32% on the year. The bigger story today is the 10-year Treasury yield, which … Continue reading

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S&P 500: New All-Time Closing High at 1896.65

The S&P 500 Index closed at an all-time high on March 31, 2013 after a five and a half year hiatus. Since then, the S&P 500 has made 53 new all-time closing highs, including today; rising 20.87% in the process. … Continue reading

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Chart of the Day: Sector Rotation

The chart below shows the ongoing sector rotation in U.S. equity markets. Highlighted in green are the best performing sectors on a rolling three month basis; red spheres are, relatively, the worst performers. Several trends emerge from this chart; Consumer … Continue reading

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April 21, 2014: Thin Tape

The S&P 500 index rose by 7.04 points today to close at 1871.89, or +0.38%. The index is now +1.27% for the 2014 calendar year, but -1.34% below its all-time high achieved on April 4. The 10-year Treasury Note currently … Continue reading

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Notable Economic Releases: April 21 – April 25

Tuesday, April 22, 2014: 10:00 AM ET NAR Existing Home Sales (March) Wednesday, April 23, 2014: 10:00 AM ET New Home Sales (March) Thursday April 24, 2014: 08:30 AM ET Durable Goods Orders (March) Friday April 25, 2014: 09:55 AM … Continue reading

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Extreme Uncertainty in Equities

Over the course of the last eight trading days, the intraday range on the S&P 500 was greater than 1% on seven occasions; with the exception being a 0.95% range on April 8th. This volatile period started back on Friday, … Continue reading

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