Redfin stock has worst day in its history as CEO sounds alarm about cooling housing market https://www.seattletimes.com/busine...eo-sounds-alarm-about-cooling-housing-market/ They reported last week. Maybe homebuilder stocks are down on concern about housing market. For where I am at, I feel like housing is cooling a little although it is still pretty hot. Home prices aren't dropping here, but the average listed day on the market is definitely longer than what it was last year. Last year the houses/condos in popular areas only stayed in the market for 10 days or so, now I am seeing them still listing on the market for a month.
whelp, next week (aug. 22nd to be exact) could be the week we see market history for the longest bull run on record Longest Bull Market Ever Don’t look now, but on August 22, 2018, this current bull market will top the 1990s bull market as the longest ever. However, be aware that the 1990s bull market saw the S&P 500 Index gain 417%, while the current bull market is up approximately 320%—so you can’t call this the greatest bull market…yet. “Age is just a number,” explained LPL Research Senior Market Strategist Ryan Detrick. “The oldest man and woman in America are 112 and 113 years old, respectively; and the man smokes 12 cigars a day! Similarly, I think this bull market could surprise us and maybe last much longer than most think, particularly since we see few signs of smoke in the economy. In fact, the benefits of low inflation, strong corporate profits, and fiscal stimulus all suggest that this bull has plenty of tricks left up his sleeves.”
We will have a tough time to beat that 417% gain I guess unless this bull market isn’t ending anytime soon
wonder if we'll break through resist this time seems like the turkey-driven dip will be short lived for now (unless we get a true black swan event) if no bad news then the path of least resist should be sideways to higher i just think we've made it back this far, it seems inevitable to me for the SPX to get that new ATH print in there sooner or later
Yeah don’t know if we are out of the woods just yet since the dollar is still going up and the Euro looks weak, but definitely a positive day for the equity market here I have been betting on new ATH for the SPX soon so I am not changing it for now
This Is NOT the Longest Bull Market Hold the champagne! This is not the longest bull market on record or since WWII as the current buzz on The Street would have you believe. On August 22, 2018 some market analysts will deem this the longest bull market on record having avoided an “official” 20% bear market for 3453 calendar days, surpassing the October 11, 1990 to March 24, 2000 bull market – but we respectfully disagree. We have tracked bull and bear markets with objectivity for more than 5 decades in the Stock Trader’s Almanac and the 52nd annual edition, the 2019 Almanac, will be out this fall. Along with many others we do not subscribe to this arbitrary 20% decline definition. In reality bull and bear markets are more nuanced than an arbitrary level like 20%. Why 20%? Why not 18% or 17.5%? Perhaps it has something to do with classic usury or loan shark rates charging a fifth or 20% of the principal dollar amount lent. Or maybe folks just like big round numbers. Even if we allow for this arbitrary 20% definition, as our esteemed colleague Sam Stovall at CFRA said in his Monday missive, “It can’t be called the longest bull until it sets a new all-time high on or after 8/22.” But the dude does not abide. We have long relied on the more accurate and widely accepted Ned Davis Research definition: A Bull Market requires a 30% rise in the Dow Jones Industrial Average after 50 calendar days or a 13% rise after 155 calendar days. Reversals of 30% in the Value Line Geometric Index since 1965 also qualify. A Bear Market requires a 30% drop in the Dow Jones Industrial Average after 50 calendar days or a 13% decline after 145 calendar days. Reversals of 30% in the Value Line Geometric Index also qualify. This applied to the 1987, 1990 and 1998 high and low. Bull and bear markets are measured at peak and trough dates, so both the time and price criteria must be met as of the peak and trough dates. In fact the logic of using the October 11, 1990 date as the beginning of the “last” bull is flawed. In the bear market that went from July 16, 1990 to October 11, 1990 the S&P 500 only suffered a 19.92% decline, not 20%. Why not count the 20% intraday S&P 500 decline in 2011? You get the point. Updated in the table below from page 132 of the Stock Trader’s Almanac are all the bull and bear markets for the S&P since 1929, including the shortest bear market on record (45 days) that ended on August 31, 1998 and the two most recent that ended on October 3, 2011 and February 11, 2016. If you really want to use the hard 20% rule the last longest bull began on December 4, 1987 and ended on March 24, 2000 at 4494 calendar days. To top that the “current’ bull that began on March 9, 2009 would have to run until June 28, 2021 to top it. Using Ned Davis rules the longest bull began on October 11, 1990 and ran for 2836 calendar days until July 17, 1998. The current bull that began on February 11, 2016 would have to run until November 17, 2023 to beat it. Far be it from me to prevent anyone from celebrating or having some champagne, but please do so with the knowledge that this bull may be younger than you think.
^^ i kinda had a sneaky suspicion that cnbc and other media outlets had this one wrong all along about next week marking the longest bull run in market history...but i just didn't have the time to investigate myself, so i just quickly assumed that cnbc and others were right. pretty sure STA (stock trader's almanac) has it right. aug. 22nd is not actually marking the longest bull market in history. this would need to run another 3 years (june 28th, 2021 to be exact) to make this truly the longest bull run w/o a -20% correction, ever. thank you STA for correcting everyone.
TUR actually up today Commodities are having a really bad days, oil now down 2.8% while copper almost down 4% I still think we will see a new ATH for the SPX before a big correction, but maybe not as soon as I thought If emerging markets keep selling off then it would become pretty concerning.
Amazon Microsoft coop coming to U.S. in a "preview" Cortana and Alexa now have access to each other’s functions like Alexa managing Outlook emails and Cortana ordering from Amazon. Some features won’t work right away, and the companies are asking for feedback on how to make the integration better for customers. The two companies first announced the plan about a year ago to take on Google’s Assistant and, to a lesser extent, Apple’s Siri. Siri existed first with a 2014 debut but hasn’t kept up with the crowd as developers headed to other assistants to develop third-party integrations. Alexa has over 45K skills and Cortana has over 450. [that's ok Cortana, you got the only skill you'll ever need, that's ordering from Amazon] Kinda like that joke, who was the highest scoring backcourt combo in college basketball? Then the joke goes Pete Maravich and whoever else was in there. https://www.sports-reference.com/cbb/schools/louisiana-state/1970.html
#Turkey’s currency crisis and continued trade tensions weighed on investors’ confidence. The relatively small economy of Turkey and its currency crisis could spread a negative impact on economies with exposure to the country as well as few U.S. companies also have significant direct exposure to it. Turkey's raising tariff on American product escalates the trade tension between this two trade partner. The steep plunge in Turkey’s currency, which is pushing the dollar higher and hurting the big exporters. In such an uncertain geopolitical environment, how all the major indices are performing, where they finished on last trading session, which stocks are performing best, which are losing the ground- get all the update and stock specific latest news of US equity market in a single platform.
