Rising inflation fears are all over the headlines. From a top-down perspective, inflation pressures are clearly rising. The Transcript, which monitors earnings calls, documented companies reporting rising inflationary pressures from supply chain bottlenecks and commodity price strength, which have the potential to create margin squeezes. “…the inflationary pressures, particularly surrounding some of...
Mid-week market update: Bloomberg recently featured an unusual article titled "Sell Signals All But Useless in Unchartable 2021 Stock Market". If you bailed because of Bollinger Bands, ran away from relative strength or took direction from the directional market indicator in 2021, you paid for it. It’s testament to the straight-up trajectory of stocks...
Q1 earnings season is well underway. 25% of the S&P 500 has reported, and a number of large-cap bellwether technology companies will report this week. So far, the EPS and sales beat rates are above their historical averages, and forward 12-month EPS estimates continue to surge. However, risks are rising as the sunny...
Preface: Explaining our market timing models We maintain several market timing models, each with differing time horizons. The "Ultimate Market Timing Model" is a long-term market timing model based on the research outlined in our post, Building the ultimate market timing model. This model tends to generate only a handful of signals each decade. The Trend...
Recently, a growing narrative in the market is arguing for a pause in the reflation trade for the following reasons: Both the cyclically sensitive copper/gold and base metal/gold ratios have moved sideways. The 10-year Treasury yield peaked out in March and it is now falling, which is an indication of the bond market's belief...
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