'Mixed Signals' - Is Another Stock Market Crash Beginning?
Jun. 14, 2020 6:52 AM ETSPY, QQQ, DIA, SH, IWM, TZA, SSO, TNA, VOO, SDS, IVV, SPXU, TQQQ, UPRO, PSQ, SPXL, UWM, RSP, SPXS, SQQQ, QID, DOG, QLD, DXD, UDOW, SDOW, VFINX, URTY, EPS, TWM, SCHX, VV, RWM, DDM, SRTY, VTWO, QQEW, QQQE, FEX, ILCB, SPLX, EEH, EQL, QQXT, SPUU, IWL, SYE, SMLL, SPXE, UDPIX, JHML, OTPIX, RYARX, SPXN, HUSV, RYRSX, SPDN, SPXT, SPXV20 Comments
Adam Koos
300 Followers
Summary
- Some good and some bad going on in the stock market right now.
- The general message indicators are telling us is that the stock market is a mixed bag.
- We're at an inflection point.
Today's "SoloCast" is a summary of some good... and some bad going on in the stock market right now - and the general message indicators are telling us is that the stock market is a mixed bag.
We've seen a close above the long-term 10-month moving average, which was preceded by a close above the 200-day moving average, only to experience a Deemer "Breakaway Momentum" breadth thrust on Friday. So these are all GOOD things! However, we've also officially entered a recession as of June 1st, following the longest economic expansion since World War II.
The S&P500 also closed below the 200-day moving average Thursday, which is a negative piece of evidence. Coronavirus cases are in an uptick in places like Peru, Brazil, India, and even right here in the United States.
So we're at an inflection point where either the stock market is going to consolidate here and find a new leg higher... or, if it can't hold above the 200MA (or the May highs), then the weight of the evidence would shift southward.
Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
This article was written by
300 Followers
Adam started his career in 2001, just 10 days before the World Trade Center was attacked, and he is one of only 3,000 Chartered Market Technicians® (CMT®) worldwide. He is also a CERTIFIED FINANCIAL PLANNER professional, a Certified Financial Technician (CFTe®) through the International Federation of Technical Analysts and a Certified Exit Planning Advisor (CEPA).Adam has been named one of Central Ohio's "20 People to Know in Finance" by Business First. Financial Advisor Magazine honored him as one of only eight portfolio managers chosen to their "Research All-Star Team" for research & portfolio management. Investopedia named him one the Top-100 Most Influential Financial Advisors in the U.S., and he was also interviewed and featured on the cover of Proactive Advisor Magazine with a focus on his trademarked, Defense First® portfolio management strategy. Adam is an accomplished columnist, has made several guest appearances on WBNS 10TV, and is a former contributor at Wall Street Journal's (MarketWatch) "Trading Deck." You can also find many of his columns in Forbes, US News & World Report, Yahoo! Finance, and Seeking Alpha, just to name a few. Adam's company (Libertas Wealth Management Group) has been named to Columbus Business First's "Top Fee-Only Financial Planning Firms" every year since 2014, he is a recipient of the 2011 Business First Greater Columbus "Forty Under 40" award, a 6-time winner of Columbus CEO Magazine’s “Best of Business” awards (winning “Best Private Wealth Management Firm"), and he is most proud to have been honored by the Better Business Bureau, winning their coveted "Torch Award for Ethics and Trust." Born in Northeastern Ohio, Adam moved to Columbus to attend college at The Ohio State University. After graduating, he married his best friend, Donna, in 2003 and they have 2 sons, Karston & Kamden. When he’s not being the best father and husband he can be, he's playing sand volleyball on Thursday nights, enjoying a glass of wine by the fire outside in his back yard, or spending down-time with his family and closest friends. Finally, Adam is an avid Buckeye Football fan and has been in attendance at more than 140 games since 1995.
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Comments (20)
Taxcut
15 Jun. 2020
Did he make to 150 words? What an exciting glimpse into the mind of a oracle........Adam....go find another job......
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USNVP-48
15 Jun. 2020
Time to put down your bets. Mr Koos says the market can go up or down or sideways. Where's my weegie board when I need it.
Cash Flow Playground
15 Jun. 2020
S&P will fall to 2700 minimum, 50% retracement from move off the bottom. OR we could see a full retest of 2200 sometime between 2nd quarter earnings season and 1st quarter next year.
Sundance Utah
15 Jun. 2020
10% pullback is within the norms of a market sell off and subsequent retracements. Covid media gloom is bread and circuses for the clueless masses. Media narratives likes to assign a causative reason for the market’s movements. Covid case increases presented with no context or details are not the reason, overbought conditions most likely are.
chicobill
15 Jun. 2020
10% from where ? Of course no one actually can predict no many how many charts and moving averages and death crosses, it all depends on the positive or negative outlook of investors and with the particular agendas being pushed along by media it seems that the negative forecast is being promoted
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chicobill
15 Jun. 2020
There is a sense that the burn it down protests has moved onto Wall Street. It would not surprise me to see the market retreat deeper and longer than 2009. But also the Covid lock downs and political posturing around it has already killed many retail operations and many more are likely shuttered for good.
Whoever wins in November may regret the victory
Whoever wins in November may regret the victory
Mili21
15 Jun. 2020
I guess market is heading downwards....as I am posting this comment DOW (F) down by ~1000 points....(11:15 PM PST).
Insecurity among some communities, COVID spikes in many states and few ASIAN countries indicating there may be a second wave as well as the employment concerns are certainly main factors contributing to this downward pressure.
Insecurity among some communities, COVID spikes in many states and few ASIAN countries indicating there may be a second wave as well as the employment concerns are certainly main factors contributing to this downward pressure.
Diesel
15 Jun. 2020
Outside of the technology sector, many stocks are still down 30-50% from February's high including oil, retail, real estate, financial, travel, leisure and manufacturing stocks. The market has mostly been held up by tech stocks.
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iv2006
15 Jun. 2020
Tech, healthcare and consumer discretionary (the latter is very strange)
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ponifan
14 Jun. 2020
If the Covid-19 numbers start to match the first wave, then yes, another crash for sure. We are a long ways from that however and as we can see, China is fighting more waves, but nothing like the first.
Diesel
15 Jun. 2020
Well back in March both America and Europe completely shutdown their economies with international travel and international trade mostly halted. This time we won't get anything nearly as drastic.
Sundance Utah
15 Jun. 2020
Second waves don’t follow days or weeks behind first waves. This is still the first wave only hyped up and exaggerated by the media and increased testing.
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JDPhillips
14 Jun. 2020
Thank You Adam Koos. JD
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Valued Rug
14 Jun. 2020
Wait, so you’re telling me the market could go up... or perhaps down?Mind. Blown.
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