Calling a Correction Let s take a long look at breadth, the overbought reading, and see why a corrective move is likely soon. Stocks quotes in this article: IWM
The market is now back to an overbought reading.
It s been a great move upward since we got oversold right before Christmas. Having spent December pinned to that 3,700 zone, the Santa Claus rally delivered.
Yet, look at that overbought reading on the Overbought/Oversold Oscillator. That s a lower high, quite a serious lower high.
We discussed breadth quite a bit last week (when don t we?!). But let s review. Monday s decline showed very little selling. Breadth was better in that 55 point decline than it was during the prior week s 8 point decline in the S&P. In other words we had good breadth in that one day whack; I viewed it as a positive. We had good breadth on Tuesday, too. Wednesday breadth started to wane and by Thursday it was a massive under-performer. So, as good as it was M
2 Small-Caps Still Worth Considering in This Red-Hot Market Oncology concern Exelixis and biopharma Ardelyx offer reasons to believe their shares should rise in the months ahead. Stocks quotes in this article: EXEL, ARDX Doug Kass had a nice opening to his Daily Diary last Friday, including a good piece around the overvaluation of the S&P 500, which he pegged as 18% to 20% overbought by one measureI hadn t thought about the degree on how overvalued the current market is, but that feels about rightI know the economy and markets are flooded with trillions of dollars. Read the full story and get access to the Real Money Pro trading floor.
DAILY VOICE | Sorbh Gupta of Quantum lists out 4 reasons why equity will be preferred asset class in 2021
We believe cyclical like Consumer Discretionary & Real estate etc. are already benefitting from lower interest rates. Any further announcements to stimulate consumption demand will help these sectors, says Gupta. January 12, 2021 / 02:20 PM IST
Sorbh Gupta, a fund manager - equity at Quantum AMC, said over the years, Budget days have become less important as most policy and reform decisions are taken outside the purview of the Budget. However, the government can use this year’s Budget to announce measures to stimulate the demand side of the economy and bring back livelihoods lost during the pandemic.