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Two weeks ago, I pointed out what all the pundits were missing, namely that interest rates were likely to become a factor for stocks, and not in a good way. And as the 10-Year Treasury Yield put on a fine display of upside velocity in a sharp, parabolic-like move to higher highs over the past month, the pundits again were convinced that it would go no further, and that the Fed would ride to the... Read More

I wrote over a week ago on February 17th that, “While most pundits view the oncoming rush of deficit stimulus spending from the government as bullish for stocks, the main issue for the market may be something they are missing. That would be higher interest rates.” Sure enough, a sharp, almost near-term climactic move in the 10-Year Treasury Yield set off a big, hairy sell-off... Read More

Special Announcement: Going forward, The Marder Report will be available twice weekly, on Wednesdays and Sundays by 6 p.m. PT, by subscription at www.marderreport.com . This service has been priced to be affordable for just about everyone, at about $41 per month with the quarterly discount. There will also be a premium version that includes: A... Read More

The big picture is a market rotating away from small-cap/mid-cap/growth and into large-cap/S&P 500/blue-chip stocks. The clearest signs of this divergence can be found in charts of the cumulative NYSE advance-decline line and the % of NYSE stocks above their 50- and 200-day moving averages. This rotation into lower-risk names is classic late-cycle behavior. It has been discussed numerous... Read More

Stocks remain in good shape, bolstered by strong earnings growth and still-low interest rates. The Nasdaq Composite and S&P 500 are just days off their all-time highs, while the advance’s breadth is solid. Leadership in the growth sector has been notable, with a few liquid glamours leading the way along with numerous more-speculative issues, including Tilray (TLRY), Bandwidth... Read More

Stock averages continue to hold their own as proceedings move through a normally slower season of vacations. While volume left a little something to be desired on the S&P 500’s latest move to a new high, turnover on the Nasdaq made up for that. ... Read More

The averages make progress as they put their brief June swoon behind them. Volume remains less than desired, especially at the level of the averages. For example, activity has actually diminished on all four S&P rallies since the Apr. 2 low. ... Read More