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Volume rising on the S&P – what is it telling us?
It’s been notable that volume has been stepping higher on the S&P500: Volume peaks tend to be associated with short to medium bottoms in the index. Similarly, troughs in volume often signal some...
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Thinking about buying the dip? Define dip.
The current selloff has the market staggering. Unlike previous tick-downs in the rally since March 2009, fear is making a comeback. Our measures of relative risk appetite have broken out. It’s...
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S&P500 by sectors – financials and consumer discretionary outperform?
It’s interesting that financials and consumer discretionary – the sectors that were most richly rewarded with government support through the crisis – are outperforming the broader index. Still with...
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Australian equities – in the bear zone
Reflecting on the following chart via Pragmatic Capitalism (here) – got to thinking about how the same might apply to Australia: So herewith is the log chart of the All Ordinaries price history since...
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Forecasting the S&P500 using the VIX
McClellan Financial Publications had an interesting analysis last week (here) that looked at “Tracking the VIX response to Price Moves” in the S&P500. A key conclusion of the analysis was that...
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Equities running out of breadth?
Now isn’t that is a tagline to make an old media mogul smile – if they were of a mind to do so of course… Consider the following chart of the NYSE McClellan Summation Index. For the uninitiated, the...
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Australian equities at a short term decision point
With earnings season almost done, the signs are that the Australian economy’s trek towards deleveraging remains firmly on track. So while the fundamentals continue to eat away at the current...
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A long term view of Australian equities
And to place the previous post in context, every six months or so, we step back to have a really long term look at the Australian equities market. From the market low in 1884, the market added around...
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Market breadth continues its slide
The following chart is a thing of beauty… Okay, it’s no Swan Lake – but following on from our earlier note (here), it is uncanny how market breadth continues its graceful exit stage right. If the...
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The combover and market breadth
Much like my hairline, the number of stocks covering the bald patch in US equities continues to thin… Last time we looked at this chart (1st June here), equities were about to dip lower. Now with the...
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