Growling Since 1996
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Daily Market Report Page (07/19)
Weekly Market Summary Page (07/15)
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)
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Previous Week's Commentaries: Monday; Tuesday; Wednesday; Thursday; Friday
Current Links of Interest
David
Haggith: A Long Shadow Creeps Over the Economy This Summer (07/12)
David
Haggith: Ten Big Steps Down the Road to Recession (07/08)
Curmudgeon/Sperandeo:
Stocks, Bonds, Gold and Bitcoin ALL UP; M2 and Money Velocity DOWN! (07/03)
David
Haggith: Best-Case Scenario Has a Worst-Case Twist (07/01)
David
Haggith: Market Mayhem is Due to Truly Perfect Storm for 2019 Recession (06/17)
David Haggith:
These Three Major Stock Bear Markets are Still Roaring (06/03)
David
Haggith: Carmageddon Keeps Rolling Along (05/28)
David
Haggith: Market Loses its Hopium-Induced High, Falls Four Straight Weeks
(05/20)
David
Haggith: The Zombie Epocalypse: A River of Denial Floods Markets Everywhere
(05/06)
Sperandeo/Curmudgeon: 10+
Year Bull Market Continues – Dow Theory Bear Call was a FALSE SIGNAL (04/28)
David Haggith:
US GDP Not All it was Cracked up to be (04/28)
David
Haggith: List of 24 Points Pressing Hard Toward Recession (04/22)
David
Haggith: Here is How Far Central Bankers Got in Normalizing Before the
Everything Crash Began (04/17)
Sperandeo/Curmudgeon: Why
Stocks Have Moved Up Despite Lower Profits and a Weakening Gobal Economy
(04/15)
David
Haggith: Tick, Tick, Talk, 2019 Recession Coming (04/09)
Sperandeo/Curmudgeon: Dow
Theory Explained and Bull Market Signal Questioned (04/07)
Curmudgeon: DOW THEORY
BULL MARKET Confirmed; Disconnect and Economic Weakness Worries Persist (04/03)
David
Haggith: Two Down, One to Go, and the Fed is Stuck (03/27)
Curmudgeon/Sperandeo: BoA:
No Love For Stocks Yet Higher Prices Forecast; Victor Disagrees! (03/25)
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)
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Weekly Charts
Dow
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red line - 50 DMA; green line - 200 DMA; pink line - NYSE adv/dec
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Composite (07/12)
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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 (07/15/19)
Fiend's Bear Encounters (1939-42, 1973-74,
1981-82) Page
DJIA, adv/dec, and momentum data
from 1990 to 06/17/19
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 July 19, 2019.
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Since May 7th, 1997, this page has
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