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The Disappearing Volume
By Tom McClellan – McClellan Market Report It is time to review some ancient stock market jargon, in order to understand the principle of the disappearing market volume. A “lot” is 100 shares of...
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The ECB’s Shrinking Balance Sheet
Tom McClellan – McClellan Market Report The news this week out of Europe has to do with upcoming elections in Italy, and what that might mean for the future of the euro. But few news stories are...
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The Euro/Yen Cross Rate
Tom McClellan – McClellan Market Report Since its creation in 1999, the movements of the euro currency versus the dollar have shown an increasingly positive correlation to the movements of the U.S....
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Another Use For the Yield Curve
Tom McClellan – McClellan Market Report Last week, I looked at the yield curve as modeled by the spread between the 1-year and 10-year yields on Treasury Notes. That’s not the entirety of all...
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Copper Inventories Rising
Tom McClellan – McClellan Market Report Since bottoming in October 2012, inventory levels of copper have risen 190% in warehouses operated by the London Metals Exchange. That’s a huge and rapid...
View ArticleHindenburg and Titanic, OH MY!
Tom McClellan – McClellan Market Report There are two market warning signs which have just recently been triggered and which have gotten a lot of press attention due to their catchy names. The Titanic...
View ArticleU.S. Stocks – One of the Few Markets at “All-time Highs”
The Federal Reserve's program of buying $85 billion per month of bonds and related debt instruments is assuredly helping to keep the U.S. stock market aloft, and at a time when my longer term models...
View ArticleSeasonal Patterns
Much is made of seasonality in the stock market, and especially of September's evil reputation. That reputation is well-deserved, although it is not fully authoritative. So far, September 2013 is...
View ArticleHousing Stocks To Pop Up Into 2014
Housing industry stocks as a group appear poised to start a strong pop up into early 2014. That's the message from looking at the chart plot of lumber prices.
View ArticlePerhaps The Only Chart That Matters (For Now)
There are a lot of different indicators and studies that technical analysts use, and all of those tools came into usage due to some degree of merit. But the one factor which seems to be trumping...
View ArticleGold COT Data Again Proclaiming a Price Bottom
By Tom McClellan – McClellan Market Report Back in June 2013, when gold was making its lowest price low since early 2011, I pointed out that commercial gold futures traders were at a really low net...
View ArticleA Review of Analogs
Have you ever lived through an earthquake? I grew up in southern California, and lived through the 1971 San Fernando earthquake that fractured the Van Norman dam, knocked down several buildings, and...
View ArticleThe VIX ETN is Not Right For Investors
In the Dec. 16, 2013 issue of Forbes magazine, the editors offer their list of "365 Ways To Get Rich" with their 2014 Investment Guide. #100 on the list is this suggestion: "Profit from stock market...
View ArticleIs The Presidential Cycle Inverting?
Tom McClellan – McClellan Market Report When Dorothy went over the rainbow, she found that everything was backwards. The world had been colorized, munchkins were grateful that it was raining houses,...
View ArticleGold Breaks Downtrend, Sort Of
Which of these statements is true: 1. Gold is still in a downtrend. 2. Gold has broken its downtrend.
View ArticleCoppock Curve Turns Down
A classic technical indicator gave a rare bearish signal for the DJIA with the down move seen in January. The Coppock Curve has turned down. More importantly, it has done so after a second big top,...
View ArticleCan Earnings Get Better Than This?
The conventional stock market analysis world revolves around earnings. "Earnings drive the stock market," they say. This myopic view is akin to the belief that carbon dioxide is the driving force...
View ArticleYield Curve’s Message For GDP
In this week's chart, the role of the entire yield curve is portrayed by the spread between the 10-year T-Note yield and the 3-month T-Bill yield.
View ArticleHousing Stocks Due for a Dip
The rally in housing stocks that I wrote about last November has been proceeding pretty much according to plan. That's the good news. The bad news for investors is that lumber prices now say the...
View ArticleA Divergence Among Nasdaq 100 Stocks
The Nasdaq 100 Index (NDX) has been leading the way higher, making higher highs and higher lows all throughout 2013 and into 2014. But it has been doing so with diminishing participation.
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