Chart of the Day – MMSI Merits Attention
This content is for members onlyChart of the Day: Dow “Golden Cross” Upcoming
The “Golden Cross” is a technical term (as in stock market technicals) used to describe the 50-day moving average crossing above the 200-day moving average as both moving averages are rising. That last part about “both moving averages rising” is key because instances where the 50-day crosses above the 200-day when the 200-day is still falling occur quite a bit (the last occurred this past December), and they don’t qualify as a “Golden Cross”.
Right now the Dow Jones Industrial Average’s 50-day and 200-day moving averages are indeed both rising, and within a day or two, its 50-day is going to cross back above its 200-day, marking the first “Golden Cross” for the index since January 3rd, 2012. If you follow financial media in the coming days, you’ll likely hear about this nifty-named technical formation that is supposed to be bullish, but is it actually bullish? We analyzed historical “Golden Crosses” for the Dow in today’s Chart of the Day, which you can read by signing up for one of our membership levels below. Click here for a quick look at what you get with each membership level.
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Chart of the Day: Key Breadth Reading Hits Bull Market High
As we’ve mentioned many times over the last few months, the S&P 500 needs to move back above its prior bull market high (and all-time high) from May 2015 to resume its long-term uptrend. Until that happens, we don’t recommend getting aggressively long stocks again. While the S&P has recovered nicely from its lows in early February, it still needs to gain roughly 2.5% from current levels to break out above its prior highs. While the index itself is still below its May 2015 bull market high, one market internal that we track closely has indeed already taken out that high…
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Chart of the Day – After-Tax Returns
This content is for members onlyChart of the Day: A Lost Generation of Individual Investors
When it comes to investing in the stock market, individual investors continue to have an apathetic (if not loathsome) view. We’ve written a lot about the negative impact that two 50%+ market declines within 10 years (2001/2002 and 2007-2009) of each other have had on long-term sentiment towards investing in stocks. Since the end of the financial crisis in 2009, our view has been that it’s going to take decades, not months or years, for individual investors to fully trust the market again. This view has certainly played out during the current bull market, because over the last seven years we have yet to see any individual investor sentiment readings turn excessively bullish. Many times in recent years, even as the market traded just a couple percentage points away from all-time highs, we’ve seen investor sentiment readings get nearly as bearish as they were at the lows of the financial crisis. That’s not supposed to happen. Historically, investor sentiment has turned extremely…
To continue reading our Chart of the Day, enter your info below and start a free Bespoke research trial. During your trial, you’ll also receive access to our model stock portfolios, daily market alerts, and weekly Bespoke Report newsletter.
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