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After 6 weeks of down markets, today, the US indexes bounced back with a broad based rally.  There are a few things we are watching for to see if the market is actually ready to rebound higher. First, from McMillan: “The first potential major buy signal could present itself in the form of put-call ratio Read more ➝

The US utilities sector is a safe place to hide when investors fear markets. As shown below in the correlation table for the trailing six months, the utilities sector ETF (XLU) has had very little correlation with both bond (AGG) and equity (SPY, IWM, QQQ, EEM) market ETFs. This should come as no real surprise, Read more ➝

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Reading this week’s commentary from Joseph Quinlan, Head of CIO Market Strategy at JP Morgan seems more like a preliminary celebration of International Women’s Day than a market commentary. Basically, Mr. Quinlan’s bull case rests on women’s adoption of the mobile phone! Just read the concluding paragraphs from his fairy tale: “… the steady advancement of women, Read more ➝

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Technically, all major indexes sit around their 200dMA – which means nothing really, other than everyone is watching it. Therefore, this level becomes a psychologically important level. A retracement from these levels is basically a self-fulfilling prophecy as everyone expects a fall of some sorts from here. Investors Business Daily counts only 2 distribution days Read more ➝

Merrill Lynch’s CIO sees a positive US market environment underpinned by better valuations and loose monetary policy. Although political global uncertainty and potential volatility continue, a positive shift in the markets is underway. We would say that ML is looking in hindsight, and could miss the fact that February is usually the weakest of the Read more ➝