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@theMarket: Stocks Are Signaling an All-Clear
By Bill Schmick,
05:55PM / Friday, October 22, 2021
The S&P 500 Index and the Dow have managed to pierce overhead resistance. This week, both hit record highs. It seems only a matter of time before the NASDAQ will follow but probably not before we have a minor pullback.   As of Friday morning, equities have managed to string together seven days of continuous gains. Do I hear eight? That is a tall order, because stocks are now overextended by just about every measure I follow. We could do with a minor pullback, or pause, before extending this rally higher.   Credit for the gains can be attributed to third quarter earnings results. The results have been much better than expected. The big fear was that supply

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@theMarket: Markets Snap Out of Their Downtrend
By Bill Schmick,
03:09PM / Friday, October 15, 2021
It appears that we have established a range in the stock market over the last few weeks. The bears have not seen their worst predictions come true. My hope is that we leave this month where we entered it.   September 2021 was treacherous. Bears were calling for a 10 percent correction at a minimum. Bulls, already on the back foot after witnessing a 5 percent pullback in the indexes, insisted we had seen the lows. Since then, we had been bouncing back and forth in a range. This week, however, appears to be a game changer.   We have not re-tested the lows on the S&P 500 Index, which we hit on Oct. 1, 2021, at 4,288 (intraday), nor have we come close to the

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@theMarket: Markets Are on the Cusp
By Bill Schmick,
03:11PM / Friday, October 01, 2021
It was another tumultuous week in the markets. Volatility spiked as events in Washington and around the world injected an atmosphere of caution and indecision among investors. I expect more of the same.   Welcome to October. A month in which I see a continuation of the last few weeks of uncertainty. The political circus in Washington, D.C., is not helping, and is set to continue making headlines in the days ahead. The debt limit controversary is probably the largest challenge investors face this month. Simultaneously, the battle between progressive and moderate Democrats over the passage of two government spending programs, will continue to monopolize investor's

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@theMarket: The Dip Buyers Return
By Bill Schmick,
03:54PM / Friday, September 24, 2021
Last week, investors suffered through the gloom and doom of a declining market. Many Wall Street equity strategists added to the angst by predicting terrible times ahead. I begged to differ, counting on dip buyers to save the day once again. And that is exactly what happened.   In case you missed it, last Friday, the S&P 500 Index was at an important level, hovering just below its 50 Day Moving Average (DMA). This had happened several times before since March 2020, and each time buyers appeared to "buy the dip."    "I suspect they will again," I wrote, "so, no, I won't get bearish quite yet. I will go the other way and

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@theMarket: Markets Enter the Danger Zone
By Bill Schmick,
04:33PM / Friday, September 17, 2021
It has been a bumpy week for stocks, and it could get worse if you believe the headlines of the financial press. The issue I see is that just about everyone is expecting a nasty period ahead for equities. That makes me somewhat bullish.   Calling short-term market moves in this environment is akin to fortune-telling. It is short on analysis, and long on my gut feelings. Granted, I too, have been warning folks that the September-October 2021 time period has been a seasonally difficult time for equities. My column last week addressed the possibility of a 5-10 percent correction, and what investors should do about it.   The media has now proclaimed that we are

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