The relentless grind higher continues for the S&P 500 (SPX – Quote), as the broad equity index recorded a record high closing of 2072.83 heading into the holiday. What’s interesting about that closing price is that it aligns perfectly with a key resistance level for the S&P 500: The 1.272 Fibonacci extension at 2073. I posted about this key resistance level last week following the Chinese central bank rate cut.
Posts From Andrew Nyquist
There have been several well known and influential investors over the years, but perhaps none as consistent in approach and value investing as Warren Buffett. He also provided the investing community with some pretty quote worthy material over the years in his interviews, speeches, books, and letters. When reading through the endless list of Warren Buffett quotes, many of which I hadn’t seen before, I was both humored and moved
Corn prices are trading higher today and have pushed Corn back up to the recent price highs around $3.85. Prices are a bit higher since my last update on the Grains sector. In that post, I highlighted key resistance levels for the sector and pointed to $3.65/70 as an interesting pivot for Corn. Here’s an excerpt from that post (speaking generally about the Grains): In order for any asset to
After hitting 4 year lows, the recent Gold rally has brought the yellow metal back to $1200/oz. That’s the good news. The bad news is that Gold failed to rally during September (a seasonally strong month) and is now trading in no man’s land. And with a stronger US Dollar and deflation in the air, it’s quite possible that the yellow metal will visit this level sometime over the coming months. But depending on who
Perhaps Ford (F – Quote) investors were biding their time for the launch of the new aluminum body F-150. Or perhaps this is just an oversold bounce? Time will tell. Last month, with the stock trading at $13.78, I wrote a post highlighting how oversold Ford stock price was and why investors should have it on their watch list. Here’s an excerpt from that post: So what makes this an interesting setup? Well, a
It’s the rally that just doesn’t want to exhale. And this morning the S&P 500 (SPX – Quote) has taken market shorts to the brink. Futures are up about 16 points, reaching as high as 2070.95 over night. What set off this overnight euphoria? The same thing that occurred just 3 weeks ago out of Japan… yup, more easing. This time it comes courtesy of China, as the Chinese central bank
2014 has seen the stock market grind higher, showing resiliency at each setback. And considering the 30 percent rally in the S&P 500 last year (and 38 percent rally in the Nasdaq Composite Index), one might even refer to this years market as relentless thus far. Scratching a bit below the surface, it’s clear that 2014 has been another banner year for large cap tech stocks and the NASDAQ 100.
Well, this chart isn’t going to be flashy. And in fact it may be downright boring. Let’s take a look at the S&P 500 chart from the past few weeks, focusing on the past week or so in general. The S&P 500 has traded in a fairly narrow range for the past 6 days, leaving behind a trail of slowing momentum. Will this underlying weakness lead to a pullback in stocks next
It has been some time since the financial markets braced for (and reacted to) geopolitical conflict. In fact, it’s likely not even on investors radars right now. And it precisely this lack of concern over geopolitical risk that has my antennae up for potential disruption. Last February, investors were forced to adjust to the Russian-Ukrainian conflict. This came and went over a short period of time, forcing investors to remain connected
After the bell today, Cisco Systems (CSCO) reported 1st quarter earnings. Although the Cisco earnings report beat on the top and bottom line, investors were mixed about their 2nd quarter forecast. And Cisco also announced that their CFO will be stepping down. At the time of this writing, the stock is down 1.47% in after hours. All things considered this isn’t much of a reaction to Cisco earnings thus far, especially