Monthly Archives: July 2019


Last Week: FOMOTINA: A rally fueled by the combination of Fear Of Missing Out with There Is No Alternative. Another week of gains for the S&P 500, which advanced 0.78% to top 3000 and close at a record high. The narrative (song) remained the same, as Fed Chairman Jerome Powell’s congressional testimony left the fed-funds futures market suggesting a 100% probability of a cut of at least 25 basis points at [...]

2019-07-15T08:42:47-05:00July 15th, 2019|

G20 Relief Party with Fireworks

Last Week: The G20 Relief Party lasted through the Independence Day Holiday, with the market advancing for six straight days to reach a new record high on Wednesday. The very light volume suggested that many traders headed to their beach houses early in the week, and perhaps were in too high spirits to be disturbed by the surprisingly strong jobs report on Friday that pretty much eliminated the chance of a [...]

2019-07-08T10:10:32-05:00July 8th, 2019|

Hey June, You Took a Sad Song and Made it Better

Last Week: The twin narrative of a dovish Fed and optimism surrounding a potential trade deal at the G20 spilled over into small cap stocks (hallelujah!) as the Russell 2000 jumped 1.09%. The S&P 500 slipped modestly for the week, but  posted its best June since 1955 with a 6.89% gain. Before we uncork the champagne bottles, it’s worth remembering that May was not very merry, and we are essentially back [...]

2019-07-01T14:12:47-05:00July 1st, 2019|