Gene Peroni, Jr.’s highly sought after stock market commentary is now available for September 24, 2020. Click on the media player below to hear daily commentary from one of the most respected equity strategists in the industry.
Yesterday I commented on the high-volume reversals that we saw in a number of the AI stocks and other aggressive growth areas…but I don’t think we’ve seen a major top in that area of the market.
The seemingly unrelenting rally in AI stocks may have faced its first technical challenge in last Friday’s session.
Investor sentiment numbers can be interpreted to suit one’s narrative; for instance, last December I noted that with a bullish consensus rising above the 50% level…
I mention frequently how important it is to consider the underlying market and regarding the stocks individually and letting them really guide where the real strengths of the market are with respect to leadership.
Over the years there have been a number of liquidity-driven rallies in the stock market, and these were often the result of a significant event; for instance, in the late 1990s...
There seems to be no taming of this bull market run...
February delivered balanced performances among the major market indexes:
The Russell 3000, S&P 500, Nasdaq & Dow Jones Industrial.
In recent reports, I've been mentioning the potential for heightened volatility and a market that could be a bit more reactive to day-to-day events and news items.
It seems that at least for the moment the buying frenzy in AI stocks may be cooling off, and that’s not such a bad thing since…
It probably isn’t difficult to make the case that the market is somewhat overbought given the gains that we’ve seen since last October, and even since the beginning of this year.
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