“… We have been looking for the market to retest the spike low from August at 1,867, and then medium-term support at 1,820, the October 2014 low. With several key sectors now also falling to major support levels – notably industrials ‒ and looking vulnerable, we think the risk a major top may be established […]
Author Archives: Jason Kelly
Where Are All The Apple Watches?
Yesterday, Apple (AAPL $110) announced the first round of updates to its Apple Watch, one year to the day after first announcing the product. On the fashion side, updates include new accessories, two new metal colors, and a partnership with French luxury brand Hermes. On the technical side, the update introduces WatchOS2, the first update […]
The Participant 9/2/15: Crash-O-Saurus Rex
THE PARTICIPANT by Jason Kelly Wednesday, September 2, 2015 ___________________________________ CRASH-O-SAURUS REX Stock markets around the world resumed crashing this week. From last Friday’s close, China’s Shanghai Composite is down another 2.2%, Japan’s Nikkei 225 is down 5.4%, London’s FTSE 100 is down 3.5% (as of 9:40am today London time), and the S&P 500 is […]
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Hussman: Expecting a 40-45% Loss
“It’s important to recognize that the S&P 500 is down only about 6% from its record high, while the most historically reliable valuation measures are double their historical norms; a level that we still associate with expected 10-year S&P 500 nominal total returns of approximately zero. We fully expect a 40-55% market loss over the […]
The Participant 8/26/15: Stock Market Calm
THE PARTICIPANT by Jason Kelly Wednesday, August 26, 2015 ___________________________________ STOCK MARKET CALM I was pleased to discover in the recent stock-market rout that converts to “The 3% Signal” remained calm, with many expressing relief that they didn’t suffer the stress they had in past market turbulence. This is excellent news. One of the primary […]
