Conclusion: Short-Term Bullish Call On QQQs – We Expect A 6% Gain As Markets Listen To Powell. We’re very bearish on the outlook for economic activity and earnings estimates over the next year. That said, earnings are only 1 part of the equation (as we’ve all have see in 2022 as stocks are down...

Doing a little work on Saturday and stumbled across a few charts that I wanted to share with you. Financials (we’re underweight) was one of the most popular longs at the start of the year, generally from the view that rates would rise. Normally, rising rates would coincide with Financials...

How can we call this a Value market if the cheapest of the cheap (S&P 1500 Value) are performing horribly?? How can we call this a Growth market if the growthiest of the growth (S&P 1500 Growth) are performing horribly?? Our Macro Select Model prefers growth rather than no growth, but is...

While it’s nearly impossible to consistently forecast spot PMIs month to month, we do have tools that can help us understand what the market is expecting, using our “What’s Priced In” dashboard as well as our short-term ISM anticipatory indicators (new orders vs. inventories). As you can see, the...

Just thought I’d share a few charts – showing how the past two times, in 2011 and 2018, bond yields rose and banks underperformed marking the cyclical peak in bond yields. Today’s divergence is now two months long, and perhaps it will continue, but I think it's another sign that investors are...

New millennial home buyers are facing the highest interest rates in their adult lifetimes. While rates at nowhere near the crazy-high levels seen during the 1980s, the PERCEPTION of rates being high (not low) is JUST AS BAD. In fact, consumers’ view on how problematic rates are as bad as they were...