Growling Since 1996
Current Date and Time: ;
Daily Market Report Page (03/21)
Weekly Market Summary Page (03/18)
Year End 2018 Summary Page (12/31/18)
Year End 2010 Summary Page
(12/31/10)
Year End 2009 Summary Page
(12/31/09)
Year End 2008 Summary Page
(12/31/08)
Crash of 2008 Weekly Summary Page
(10/13/08)
Click here for latest quotes for the week
Previous Week's Commentaries: Monday; Tuesday; Wednesday; Thursday; Friday
Current Links of Interest
David Haggith: A
Week in the Life of a Topsy-Turvy Wildly Whirling World (03/11)
David
Haggith: More Evidence That the Bears Have it Dead Right (02/27)
David
Haggith: The Bears Have it Right: Economy Went Polar Opposite of Bullish
Predictions (02/19)
Curmudgeon/Sperandeo:
Market Ignores Weak Economic Reports; Huge Fund Outflows; Victor’s Analysis
(02/17)
David
Haggith: Housing Market Crash 2.0: The Jury is in for 2018-2019 (02/12)
Sperandeo/Curmudgeon: Why
No Commodity Inflation? The Government Changed the Laws (02/10)
David
Haggith: The Fed’s Failure is a Fait Accompli, Exactly as This Blog Said it
Would Be! (02/07)
David
Haggith: Powell Put Sends Stocks Soaring, Recession Must be Near (01/31)
Curmudgeon/Sperandeo:
Fed’s Balance Sheet Runoff is All About Bank Reserves; Who Does the Fed
Represent? (01/28)
David
Haggith: The Great Recovery Rewind: How the Federal Reserve’s Balance-Sheet
Unwind is Unwinding Recovery (01/28)
David
Haggith: Federal Reserve Confesses Sole Responsibility for All Recessions
(01/17)
Curmudgeon/Sperandeo:
Stock Buybacks Exposed: Record Year, Outlook and Examples; Lower Growth=Lower
P/E (01/13)
Sperandeo/Curmudgeon: Fed
Chair Sets New Record: 180 Degree Flip Flop in 15 Days! (01/06)
Sperandeo/Curmudgeon:
Thoughts on the Decline in U.S. Productivity and Standard of Living (01/03)
David
Haggith: Angry Gartman: “We Are Supposed to Believe the Bull Market is Still
Intact? Utter and Complete Nonsense” (01/03)
David
Haggith: The Roar of Stupidity is Now Deafening (01/02)
Sperandeo/Curmudgeon: Bear
Market, Corrections and Recession Lead Times (12/30)
David Haggith: It’s
Up, It’s Down, It’s Done – a Day in a Year of the Dow (12/30)
Curmudgeon: Quick Takes
and Shadowstats’ Thoughts on the U.S. Stock Market (12/28)
David Haggith:
Fed Med is Dead: How We Went From Fake Recovery to Freefall (12/27)
Sperandeo/Curmudgeon: Bear
Market Update and New Investor Psychology (12/24)
David
Haggith: Something Wicked This Way Comes. Is it the Fed? Is it the President?
Is it the Treasurer? (12/24)
Sperandeo/Curmudgeon:
Superior Long Term Indicators Say U.S. Stocks are in 2nd Leg of a
Bear Market (12/23)
David
Haggith: Stock Market Hangs on Edge of Very Big Cliff (12/18)
Curmudgeon/Sperandeo:
December 2018 Fed Meeting and the Markets (12/16)
Curmudgeon: Dow Theory
Sell Signal Triggered Yesterday—Yet No One Noticed! (12/11)
Curmudgeon: Are U.S. Stocks in a Bear Market or Just a Correction?
(12/09)
Curmudgeon/Sperandeo: Post
Midterms Stock Market Outlook: History vs. Fundamentals in Conflict (11/12)
Sperandeo/Curmudgeon: U.S.
Financial Markets, Outlook, and the Fed (11/04)
Curmudgeon: Ready, Set,
Go: Global Debt Implosion, Deleveraging, and Quantitative Tightening (09/10)
Curmudgeon:
Longest S&P Bull Market with Many Bear Markets; Seaonality Fails in New Era
(08/19)
Curmudgeon: U.S. Budget
Deficit Rising (Should be Falling); Impact on Borrowing and Interest Rates
(08/06)
David
Haggith: Icarus Flies, but FAANGs Fall from the Gaping Maw of US Stock Market
(08/06)
David
Haggith: Fabulously Fake Facts – “G” in GDP Stands for “Gullibility” (08/01)
David
Haggith: Housing Market Collapse 2.0 Accelerates Rapidly! (07/30)
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Dow
Jones Industrials (03/15)
red line - 50 DMA; green line - 200 DMA; pink line - NYSE adv/dec
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NASDAQ
Composite (03/15)
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The Fed with its Keynesian vision believes it can hold off a correction forever. In the history of the stock market, that’s never been done.
Confidence and complacency are more acute
now than any time I’ve seen before. All expressions of overvaluation are at historical
extremes. Despite this, most money managers remain in the market. The thesis is
“if it’s going up, regardless of anything else, I want to be in it.” Perhaps
the best indicator of complacency is the VIX which at its current level of 13
tells us that investors see no reason to protect their positions. Every minor
decline is seen as a buying opportunity. The rationale is that the Fed would
not allow anything worse than a 10% decline. If the stock market starts sinking
between now and October 1st, I will be most interested to see if the Fed
eliminates QE.
Richard Russell,
90-year-old publisher of the Dow Theory since 1958.
Archives
The Magic Wand of Liquidity Page (03/18/19)
Fiend's Bear Encounters (1939-42, 1973-74,
1981-82) Page
DJIA, adv/dec, and momentum data
from 1990 to 03/15/19
Market Top of 1968 Revisited
Business Week's The Death of Equities Revisited
Tj's Financial Cartoon Gallery
Miki's Portraits of Some
Bulls of the Millennium
This page was last updated on March 21, 2019.
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Since May 7th, 1997, this page has
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