Tag Archives: SPX

A Funny Thing Happened on the Way to Market Complacency / Euphoria

A relatively reliable measure of complacency/euphoria in the stock market just hit levels last seen in late January,┬ájust before stocks reversed in a massive meltdown, surprising all the complacent/euphoric Bulls. The measure is the put-call ratio in equities. Since this … Continue reading

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Please Assume Crash Positions

You know how to get into crash positions, correct? Here’s your guide: Very few punters expect a real downturn here in stocks. The reasons for confidence are many: the Fed has our back, buy the dip has worked great and … Continue reading

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The Stock Market 2015-2016: Ugly Chopfest with an Equally Ugly Megaphone

It’s interesting to take a longer-term view of the S&P 500 (SPX). Looking at a 10-year chart, the decline from almost 1,600 to 667 in the Global Financial Meltdown of 2007-2009 doesn’t look like that big a deal, given the … Continue reading

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Is This the Chart of a Healthy Stock Market?

If fundamentals like profits and sales no longer matter, then all that’s left is faith that central banks will never let stock markets fall ever again. Is this the chart of a healthy stock market? The consensus view is either … Continue reading

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Who Left the Crash Window Open?

Can stocks keep hitting new highs even as sales and profits fall? Given that we live in a world where a modest 3% decline in the stock market triggers panicky demands for more quantitative easing (QE 4), few observers expect … Continue reading

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