Stocks got off to a rough start on Monday in the wake of developments in Ukraine. Over the weekend Russia took steps to solidify its hold on Crimea in defiance of vocal protests by western powers and the newly formed Ukrainian government. In effect, Russia sealed off the Crimea from the rest of Ukraine, sent in reinforcements to raise troop levels to a reported 16,000 and boxed in the Ukrainian navy. Read more about A Market Made In Crimea 03-04-14
Stocks have rallied back to their highs in recent days, erasing their earlier 2014 losses. Our indicators, however, at present have a bearish bias, suggesting that stocks have little ability to make much progress from here.
As we saw in December and January, the 1850 mark on the S&P 500, which we briefly topped during yesterday’s trading, has been a somewhat tough nut to crack. With stocks having gained about 6 percent from their lows earlier this month, another pause here wouldn’t be the least bit surprising. Read more about Traveling Over Familiar Ground 02-25-14
Stocks continue to bounce back from their recent slump, with the S&P 500 climbing above 1800 this morning. Stocks have recouped more than half of their recent losses and the S&P is back up to its 50-day moving average. The recent gains come amid firming emerging market currencies and decent economic news among developed markets. Read more about Yellen's Yawner 02-11-14
Fears of more capital outflows from emerging market sent stocks sharply lower yesterday. By the closing bell the benchmark S&P 500 was off about 6 percent from its high and back to where it stood in October. Bargain hunters have stepped in today seeking opportunities among battered stocks. Yet the apprehension that even greater losses await us if the contagion gripping the foreign exchange markets spreads is palpable. Read more about Investors Braced for a Hurricane Amid Mild Showers 2-4-14