Chart of the Week: S&P 500 vs. U.S. Yield Curve

By | 2017-11-08T13:26:37+00:00 November 8th, 2017|Categories: Market Strategy Report|

The financial media is buzzing over the flattening U.S. yield curve. So what happens to the stock market in flattening yield-curve periods? Answer: Cyclical bottoms, cyclical tops, melt-ups, and crashes – i.e., just about everything. Flattening yield curves haven’t predicted [...]

What’s an Investor to do when Fed Critics have no clue?

By | 2017-10-26T17:32:42+00:00 October 26th, 2017|Categories: Market Thoughts|

This article was also published on Seeking Alpha By now, if you haven’t been investing under a rock, you have heard the constant back and forth of Federal Reserve Officials arguing why raising interest rates is the appropriate action to [...]

Chart of The Week: 4-Year Cycle Back in Sync?

By | 2017-10-05T09:44:56+00:00 October 5th, 2017|Categories: Market Strategy Report|

The 4-year cycle in U.S. equities appears to be back in sync after dislocations surrounding the crash of 2008-2009. This suggests an important bottom in early 2020 or thereabouts. Next important top: Late 2018? Caution. We don’t use cycles in [...]

Emerging Markets: Turning The Corner

By | 2017-09-06T11:14:55+00:00 September 6th, 2017|Categories: Market Strategy Report|

Summary Emerging markets appear to be staging a bullish, long-term reversal relative to the S&P 500. There is plenty of room for further gains, if long-term reversal has occurred. A move above six-year-old resistance in dollar terms is the next [...]

The challenge of active management…

By | 2017-08-16T11:39:08+00:00 August 16th, 2017|Categories: Market Strategy Report|

As every stock picker knows, it’s hard to beat an index. This truth is demonstrated by a recent study from The Vanguard Group. See charts below. But here’s the catch. With passive indexing so popular, an active overlay is increasingly [...]