Sep 17, 2021
This week’s Bespoke Report newsletter is now available for members.
It hasn’t happened very often this year but early Friday afternoon the S&P 500 was on pace to close below its 50-day moving average. A close below the 50-DMA is not something that market technicians like to see.
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Sep 10, 2021
This week’s Bespoke Report newsletter is now available for members.
Below we highlight recent performance across a wide range of ETFs representing various asset classes, national equity markets, and US sectors or indices.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Sep 3, 2021
This week’s Bespoke Report newsletter is now available for members.
There were a lot of convulsive headlines this week, ranging from Hurricane Ida to the Supreme Court to China to the Delta variant, but markets broadly yawned at events thrown their way. Even a massive miss from payrolls on Friday morning couldn’t derail the slow and steady grind that the US equity markets have trended on for the past several months. That steady grind is also impressive given the huge wave of hawkish Fed speakers in August and the very high likelihood of a taper starting before the end of the year.
In this week’s Bespoke Report, we cover a lot of different topics. Among them:
- Q3 performance drivers.
- The state of COVID in the United States.
- Very low real rates compared to prior economic recoveries.
- The hawkish August in Fedspeak and outlook for tapering.
- Easy financial conditions.
- The US auto industry.
- Policy and political developments in China.
- EM’s breakout.
- German elections.
- Earnings Triple Plays.
- And so much more!
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Aug 27, 2021
This week’s Bespoke Report newsletter is now available for members.
For several days, all the market could do was focus on the upcoming Jackson Hole speech from Fed Chair Jerome Powell. Will he signal in September or won’t he? Well the day finally came, and because the conference was changed from in-person to virtual, we all got to see the speech live on Friday morning. Powell didn’t say anything new, and since that followed a number of hawkish comments from other members of the committee, that was all bulls needed to conquer the day and push the S&P 500 to more record highs.
With the exception of last September and October, the S&P 500 has been in one of the steadiest uptrends ever. Tests of the 50-day moving average (DMA) are few, far between, and extremely short. Meanwhile, the S&P 500 is still maintaining ample social distance with the 200-DMA as that trend line shouts, “Remember me?”
In this week’s Bespoke Report, we cover a lot of different topics. Among them:
- A record number of records and Nasdaq 1,000 point milestones.
- A loot at some high-frequency COVID statistics,
- This week’s surge in crude oil and what it means for energy stocks going forward.
- A review of prior market responses to the GOMC Jackson Hole conferences.
- Bitcoin sentiment.
- Low volume rallies. Do they matter?
- The “Montana Curve”.
- Seasonality. And much more.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Aug 20, 2021
This week’s Bespoke Report newsletter is now available for members.
Before we get started with a preview of our weekly market recap, below we highlight recent performance across a wide range of ETFs representing various asset classes, national equity markets, and US sectors or indices.
- Global equities had a rough week although US stocks saw a decent rally into the close on Friday.
- Small-caps and mid-caps were down the most this week, while Energy, Financials, and Materials fell sharply as well. On the flip side, we saw nice gains in Health Care, Utilities, and Consumer Staples.
- We’ve seen steep declines in countries like Australia, Brazil, Canada, and China this week and this quarter, and international equities are underperforming the US in 2021 by a significant amount.
- The Bitcoin and Ethereum Trusts have surged in Q3, with GBTC up 32.7% and ETHE up 38%. ETHE is back up nearly 100% on the year after the bounce it has had.
To read this week’s full Bespoke Report newsletter and access everything else Bespoke’s research platform has to offer, start a two-week trial to one of our three membership levels.
Aug 13, 2021
This week’s Bespoke Report newsletter is now available for members.
Before we get started with a preview of our weekly market recap, below we highlight recent performance across a wide range of ETFs representing various asset classes, national equity markets, and US sectors or indices.
Summer trading means a grind higher around the world. Europe hasn’t had a red day in two weeks, while the US earnings season has been as strong versus expectations as any in the past 20 years so far. We discuss the massive beat rates being recorded across the US earnings landscape, record guidance raises, the impact of the Delta variant versus vaccines both in the US and around the world, an inflection point in numerous sentiment indices, potential bottoming out in US housing inventory, sentiment analysis powered by search trends, the fiscal impact of the infrastructure bill, soaring cryptocurrency prices, the partisan divides visible in economic data, and more. To read the report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels.
