Gene Peroni's Daily Podcast

The S&P 500 and Nasdaq tenderly holding at their respective trend lines; these are widely-watched moving trend lines. As I mentioned last Friday… 

With the major market indices on the cusp of breaking their recent lows, I think we could be looking at a 5%-or-greater decline. 

The stock market spooked once again by comments from Fed Chairman Powell when he indicated that the Fed would remain focused on inflation. 

Today is the 36-year anniversary of the infamous 1987 crash. It should be noted that one of the contributing factors was higher interest rates. 

For weeks now the stock market’s trading activity has been characterized by resiliency and elasticity. 

Last year at this time the stock market was in the process of finalizing a bottom and was about to embark on a rally that would carry into mid-July of this year. 

Yesterday I mentioned that the stock market could soon feel the pinch of overhead supply among the major market indices…but in yesterday’s session they failed to clear their 9/29 peaks and intraday peaks set earlier this week which setup a bit of a technical selling point. 

The major stock indices have uniformly established nice base formations that could indicate the lows set recently could be the lows set for the cycle. 

A year ago the stock market was in the process of bottoming and on the verge of launching a big rally that would carry into mid-July. 

A few weeks ago I made the observation that investors’ perceptions might be shifting with respect to the interest rate outlook. 

This morning we are seeing reactions in the markets globally to the horrific invasion of Israel by Hamas over the weekend. 

News items and data releases on the economic monetary and geo-political fronts could have larger than usual sway on the stock market as we move into the middle part of October.

At face value, yesterday's market rebound may have been little more than a relief rally.

The economic monetary and political culprits behind yesterday's decline have been advertised but interest rates play the biggest role for the stock market.

October could be a pivotal month for stocks.  

Higher interest rates are attributed to yesterday's market decline. 

The recent list of high volume gainers, it is evident that the stock market is promoting stock picking.

The new week begins with the major market indexes on the cusp of decisively breaching their August lows.

 Decline among the major market indexes.

Breached pennant formations among the major market indexes are having a techinical impact on stocks.

A poker-faced market as investors await the Fed’s decision tomorrow afternoon; the consensus seems to be that they won’t raise rates. 

There is an old Wall Street adage that dates back to 1915 that says, “Sell on Rosh Hashana and buy on Yom Kippur.” 

For the stock market, resiliency is an important factor to consider, especially amid many headline challenges that investors face on a daily basis. 

Perhaps one of the best things that can be said about the stock market at this point is that the major market indices are holding at, or very near, the upwardly revised support levels.