by Dan Gibby | Jun 2, 2024 | ETF Past Letters
Most markets retraced last week as expected since we have been warning of the bearish signal from our market internals. Last week we cautioned, “The internal market gauges are still working off reaching a bearish extreme, so the upside should be limited.” It...
by Dan Gibby | May 26, 2024 | ETF Past Letters
The axiom, “Sell in May and go away,” has not worked so far. Despite the Dow Jones Industrial Average being the weakest on last week’s deep retracement, it is still up more than 3% this month. The S&P 500 gained 5%, and the Nasdaq Composite up 8%....
by Dan Gibby | May 19, 2024 | ETF Past Letters
After the April CPI release last Wednesday, stocks and bonds rallied, and the markets are still glued to anything that will help chances for rate cuts this year. The downtick in the core CPI, a measure that excludes volatile food and energy costs, helped fears...
by Dan Gibby | May 12, 2024 | ETF Past Letters
Markets churned higher last week deeper into resistance, despite rising consumers’ inflation expectations and bearish sentiment. The University of Michigan’s latest sentiment reading (measuring consumers’ attitudes about the economy) fell to a six-month low....
by Dan Gibby | May 5, 2024 | ETF Past Letters
Friday’s jobs report showed a slowing labor market which caused a large bullish gap in all broader markets as it renewed hopes for more rate cuts this year. Thereafter it was pretty much a go-nowhere day but many look higher over Friday’s high. The markets had...
by Dan Gibby | Apr 28, 2024 | ETF Past Letters
All broader markets and S&P sectors rallied last week despite ongoing inflation worries, rising yields, more hawkish Fed speak, and geopolitical uncertainty. We said that a “turn” was imminent based on the extended markets and bullish internals. It was...
