ETF Talk

S&P 500 Update – Churning for a Burning?

The S&P 500 reached our minimum down side target and rallied strongly. Is this rally for real or are stocks just ‘churning for another burning’? Bullish Signals; This week’s rally is credited to the French election, but a series of solid buy signals triggered days before the news from France. The CBOE equity put/call ratio signaled a S&P 500 rally. Contango and the VIX/VXV ratio signal a VIX decline. The chart below – which plots the S&P 500 against the VIX, VIX/VXV ratio, CBOE equity put/call ratio, and contango – was published in the April 16 PRR along with the following commentary:“The VIX/VXV ratio, equity put/call ratio and contango are at multi-month extremes.It appears like the amount of sellers left (needed to drive prices lower)...

Is the Correction Already over or Just Re-loading?

The last free update (March 2: S&P 500 Reaches Up Side Target – Now What?) pointed out that the S&P 500 reached our up side target, and that risk of a pullback is increasing.
Since March 1, the S&P lost as much as 79 points, the largest drop since last October (followed by a...

Will the Dow’s Record Streak End with a Bang?

On Monday, February 27, the Dow Jones Industrial Average (DJIA) recorded its 12th consecutive up day. This is the second longest such streak since 1930 (the longest run was 13 days in January 1987).
The S&P 500 hasn’t dropped more than 1% a day for 104 trading days.
The record gains haven’t...

S&P 500 Reaches Up Side Target – Now What?

The S&P 500 has reached the up side target zone highlighted in February and August/September 2016. Now what?
The August 28, 2016 PRR published the chart below and stated: “Elliott Wave Theory and the June breadth thrust suggest that any weakness will be bought (perhaps even furiously). We...

Short-term S&P 500 Outlook

Tunnel vision is almost always a risky approach to investing, however, this is one of those rare times where tunnel vision is actually the best way to go.
With tunnel vision I mean focusing on the (only) indicator that’s been working, and tuning out all other indicators.
Elliott Wave Theory...

2017 Oil Forecast

Although volatile, 2016 was a good year for crude oil. The January 10, 2016 Profit Radar Report printed this outlook for 2016:
“Sentiment is bearish (which should be positive for oil), but seasonality has a minor weak spot until early February. The overall setup for oil in 2016 looks positive,...

Amazon.com Inc. Revenue And Outlook Miss Estimates, Shares Fall

The Seattle-based retail superpower reported Q4 EPS of $1.54, which was $0.12 better than the Wall Street consensus of $1.42. Revenues rose 22.4% from last year to $43.74 billion, missing analysts’ $44.69 billion view, however.
Amazon’s North American sales rose 22% in the latest period to $26...

Did Apple Shares Really Deserve A 6% Rally From That Report?

Apple shares surged 6.1% in the session following the release. It can’t be overstated how huge of a move that was for a stock of Apple’s size. You simply don’t see a $700 billion company’s shares explode in either direction like that very often (granted, Apple is the...