Morning Comment: Today is (almost) all about COIN and Bitcoin



We had yet another pretty uneventful day yesterday. Yes, the S&P rallied 13 points and the Nasdaq rose more than 1%, but they both had negative breadth and volume remained very low. (The composite volume was higher than Friday and Monday, but at 2.5bn shares it was still very, very low.)…..The moves WITHIN those broad averages was led by the bond market. Although the inflation data in the morning was slightly above expectations, it was still below the whisper numbers and it cause the Treasury market to rally…and thus took long-term interest rates lower. This, in turn, helped the large-cap tech names to rally…and caused the bank stocks to take it on the chin.

Speaking of the banks, the earnings season for these names began this morning…and we’ll get a deluge of earnings from this group over the next few days. This morning’s releases have Goldman’s shares trading higher…but Wells Fargo’s and JP Morgan’s shares are flat-to-lower. It will be interesting to see how the group acts over the next week or two. The bank stocks always seem to get hit when they report their earnings…even when they beat expectations (like they did with this morning’s reports). However, once we get past their numbers (most of which come-out at the very beginning of earnings season each quarter), the group tends to stabilize. Therefore, once we get past the next few trading days, the group should go back to trading based on the movements in the 10yr yield and the yield curve in general…..In other words, we’ll get a better idea of how this group will act as we move through the rest of Q2 over the next two weeks…rather than over the next few days.

Of course, most of the focus will be on the first day of trading for ...

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Morning Comment: Energy ETF's Testing Key Support...Bitcoin Breaking Out.



We had yet another boring day in the stock market yesterday…as volume continues to come-in at/near the lows of the year….and the intraday range for the S&P 500 has been less than one-half of one percent on four of the ...

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Morning Comment: Financial stocks still look great on a longer-term basis


You can’t get a lot more boring than we got yesterday in the broad stock market….as the major averages finished the day pretty much unchanged on the lowest volume day of the year so far. This action (or non-action) is ...

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Morning Comment: ARKK....AMZN....Mary Jane Bush


  • Some profit taking in front of tomorrow's employment report?
  • $110 is the KEY support level for ARKK
  • Ditto for the $2,950 level on AMZN.
  • A tribute to Mary Jane Bush, Wall Street pioneer.


The stock futures are trading higher this ...

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Morning Comment: Small-caps, Biotechs testing KEY support levels


If history is any guide the market tends to rally at the end of the quarter…as institutional investors mark-up their favorite picks. Thus, with only two days left in the first quarter, maybe it should be no surprise that the ...

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Morning Comment: Several Overseas Markets Showing Some Cracks.


The Treasury market rallied very nicely yesterday, and this obviously led to a rather material drop in long-term interest rates. However, instead of that causing a nice bounce in the stock market, stocks got hit quite hard. In our minds, ...

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Morning Comment: Banks Ripe for a Short-term Pull-back.

In our weekend piece this past weekend, we highlighted that although we expect long-term rates to head higher over time, we also think that they are ripe for a pull-back over the short-term. We showed how the chart on the ...

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Morning Comment: WAKE UP, the FED has become more hawkish!



Despite the consensus narrative after the Fed announcement/press conference yesterday, we would argue that the one thing that everybody is missing is that the Fed keeps confirming lately that it has changed its policy...and has become more hawkish. ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S" pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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Midday Comment: Nasdaq approaching the "neck-line" of an "H&S pattern


This is a note I posted today late in the morning. If you would like to get posts like these on a more timely basis...as well as receive my daily comments and "The Weekly Top 10" piece, please join us ...

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THE WEEKLY TOP 10


If you would like to get these unique insights on a regular basis during these fascinating times in the investment world, please click here to subscribe to “The Maley Report.”......Thank you very much.



THE WEEKLY TOP 10


Table of Contents: ...

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Morning Comment: A willingness to let inflation


It was an ugly day in the stock market yesterday as the 2.4% drop in the S&P 500 and the 3.5% dive in the Nasdaq came on a decent sized increase in volume and very poor breadth. In fact, the ...

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