Gene Peroni's Daily Podcast

In observing a number of Individual stocks representing technology, artificial intelligence and other of the more aggressive growth areas of the market, it seems that they have run into a bit of a technical brick wall. 

The greatest obstacle for investors over the very near term, may be the calendar.  This is the last full week of the August. Next week begins what is historically the worst month of the year for the stock market. 

As the major market indexes approach their July peaks, levels that represent their all time record highs....

Growth has let the rebound since the August 5th selling route....

Gene discusses market sectors and what he looks for....

The stock market is in the throws of a seasonal and cyclical period that runs between August and October.

It is now been 2 weeks since the stock market fell sharp and the CBOE Volatility Index reached panic stage levels...

Shortly after the August 5th selling rout, I had mentioned that it’s important to consider the cup-and-handle formations that had developed in stocks, sectors and themes shortly after the lows were struck last October. 

Staying the course with the longer-term market leaders through short-term volatility has often proven to be the best strategy. The latest of this is the trading action following the August 5 decline. 

From 65 to 18, where it currently stands, the CBOE Volatility Index has had a mighty swing... 

The great American “philosopher” Yogi Berra said it best: “It ain’t over ‘til it’s over.” I think that applies well to the current market condition. 

If history is any guide — and I think that it is relevant — then the selloff on Monday was a climactic one similar to the extreme selloffs that we saw during the Great Financial Crisis, and again amid the initial Covid outbreak. 

Fear may have elevated to panic in yesterday’s session. To put that in perspective, let’s look at the CBOE Volatility Index — sometimes dubbed the “Fear Index” and at times does act as a barometer of outright panic. 

In pre-opening trading this morning, the CBOE Volatility Index has traded as high as the 54 area, and that to me reflects full-on panic. But, the scenario here is not entirely different than October 1987…. 

The CBOE Volatility Index reached a higher high than its recent rally, moving above the 19 level yesterday. This morning… 

Two headline factors may have been largely responsible for yesterday’s market action. For one, the Fed did indicate yesterday that it might cut rates in September… 

As we begin the final trading day of July, technology continues to be a mixed bag, generally under pressure. 

As we count down the final days of July, investors may be bracing for August and September — two months that are not historically friendly for the stock market. 

Recent market action has featured rigorous rotation amid heightened volatility. 

Technology failed to hold the line yesterday with semiconductors, and other subcategories of technology, breaking below their widely watched short-term moving average trend lines. 

Yesterday’s market action may have strengthened the short-term outlook for stocks; I say that because a number of technical factors played pretty significantly during the course of trading yesterday. 

Despite last' week events, the market had a pretty normal performance. 

Gene discusses the volatility in this bull market run. 

Yesterday’s market action was the latest showcasing of rotation, and it did intensify in yesterday’s trading, leaving behind the Nasdaq and the more aggressive growth areas of the market once again with the Dow really shining. 

Rotation was clearly evident in yesterday’s trading action, but it has been a regular occurrence in the stock market for many weeks. I think this has been….