Gene Peroni's Daily Podcast

September 13, 2023

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. 

September 12, 2023

Common thread among major market indexes. Their patterns are similar, producing a trend of descending peaks but ascending lows.

September 11, 2023

Today is the 22nd anniversary of the September 11th attacks. May we always remember and honor the civilians, firemen, police, first responders and military who lost their lives on that day. 

September 08, 2023

The stock market is at a technical crossroads, a test point of sorts. 

September 7, 2023

The latest survey by the American Association of Individual Investors shows that bearish consensus has fallen significantly, and it is now standing well below its historical norm around 31. 

September 6, 2023

The sharp and abrupt selloff that we’ve seen in some sectors and themes since mid-July can be interpreted in several ways. My take is… 

September 5, 2023

Referencing history, August didn’t deliver any real surprises for investors who were more inclined to be stock-picking focused, or more centered on sectors than themes, it wasn’t such a bad month. But those who were looking from a top-down perspective… 

August 31, 2023

I don’t think it’s a stretch to equate the stock market with a prize fighter who takes on contender after contender and wonks every one of them, and that’s what we’ve seen here in August. 

August 29, 2023

It should come as no great surprise that technical factors are quite mixed as we come to the end of August. This has been a very choppy, erratic and reactive month for stocks… 

August 28, 2023

Shortly after mid-July when the major market indices hit what were to be short-term peak levels, I cautioned that August could present seasonal and cyclical headwinds. 

August 22, 2023

The rally in the Nasdaq yesterday — the biggest one so far this month — was encouraging, but it didn’t pierce through the near-term resistance level. 

August 21, 2023

Generally speaking, net money flow trends are indicating that money is staying in the stock market, but that it is rotating among different categories. 

August 18, 2023

A more cautious stance was taken after mid-July around the time major stock indexes peaked. 

August 17, 2023

The AI craze on Wall Street may be dissipating and this is something to watch closely in the coming days and weeks. Numerous stocks in the AI-related theme are showing signs of ebbing upward momentum… 

August 15, 2023

Yesterday the spotlight was on the traditional cyclicals — a category I’ve been mentioning for some time as an important group to watch in terms of rotational characteristics. 

August 14, 2023

We are just about at the midpoint of August and it seems the doldrums are setting in on Wall Street; there seems to be little conviction, buying or selling. 

August 11, 2023

Looking at a chart of the DJIA for this week’s trading, we see a real sawtooth pattern; I think that this is a trend that we will see for weeks to come. 

August 10, 2023

In recent weeks I’ve been mentioning that I believe that the stock market is going to adhere to a trading range pattern that could continue well into September, and maybe even a little bit beyond. 

August 8, 2023

The stock market could be reverting to a more reactive state, something that we have seen in the past, but for some time the market’s focal point was forward looking. 

August 7, 2023

With a majority of the S&P 500 companies reporting 2nd quarter earnings, the results are not all that terrific. 

August 03, 2023

August 02, 2023

August 01, 2023

July 31, 2023

Since reaching peak levels earlier in July, a number of technology leaders have consolidated and then rallied back, but the subsequent rallies have not… 

July 27, 2023

Technology continues it massive lead in the market with the Nasdaq up by nearly 35%, which compares with the S&P 500 up nearly 19% and the Dow is trailing considerably, up just 7%. But one of the storylines here… 

July 26, 2023

The S&P 500 has notched a new record high and the DJIA has put together a pretty impressive string of daily advances, but still no indication of capitulation on the part of the bears. 

July 25, 2023

As we move through the 2nd quarter earnings reporting season, there isn’t anything really dramatic to report. The earnings seem to be supporting the individual stock prices. 

July 24, 2023

Buying momentum among a number of the forefront technology leaders was evident in last Thursday’s session with high-volume selloffs pretty much across the board. 

July 21, 2023

The DJIA has severely lagged behind the S&P 500 and Nasdaq year to date. The Dow is up by a little more than 6%, while the S&P 500 is up ~18% and the Nasdaq ~34%. 

July 20, 2023

Gene Peroni’s Daily Podcast: Rotation is an important element for a healthy market environment and it’s an important characteristic in a sustainable market advance. 

July 19, 2023

You don’t have to be a contrarian to recognize that there are other stock sectors and themes that are doing quite well beyond the “Magnificent 7” technology names that have been mathematically driving the S&P 500 higher. 

July 17, 2023

I mentioned last Friday that the major market indices were approaching targets that I thought might not be seen until later this year. For instance… 

July 14, 2023

Some years ago it was Alcoa that officially launched the earnings reporting season, but today it’s the financials and this morning several financials are reporting and beating Wall Street expectations. 

July 13, 2023

There was encouraging news on the inflation front, but no real tendency to sell into the good news. 

July 10, 2023

The fact that just a handful of companies are driving the performance of the S&P 500 year to date makes for good academic fodder and is mathematically correct, but otherwise I think…

July 6, 2023

The market is in a limbo stage as we await the 2nd quarter earnings reporting season. This often happens where we do get some consolidation, rotation and hesitation ahead of the earnings reporting season. 

July 5, 2023

Surely after the lows that were struck last October I had noted how Growth was breaking its downward momentum. As we finished off the first half of 2023, I’ve seen indications that Growth might be breaking its upward momentum. 

July 3, 2023

Some bears are doubling down on their dire predictions for the stock market, which is music to the ears of contrarians. Some would say the market is climbing a “Wall of Worry”… 

June 30, 2023

To the casual, Main Street observer — and even to some seasoned Wall Streeters — the market’s advance year to date might seem confusing, even confounding for the bearish, but the market’s persistent and steady gains indicate… 

June 29, 2023

As I monitor technical factors, it seems that the market’s state right now is a bit rudderless, in a limbo stage, which means it will probably stay in a trading range over the short run. 

June 28, 2023

With only three sessions remaining in the 1st half of 2023, it's clear the prediction I made in the 4th quarter of last year is not going to come to fruition — that call was that the Dow could challenge its all-time highs by the end of the 1st half of this year. 

June 27, 2023

In recent sessions there has been stepped up rotation where we have seen some profit taking in technology categories into some of the more traditional cyclicals. 

June 23, 2023

With the market in a consolidation phase, I thought it might be appropriate to revisit and revise my support and upside target levels for the major market indices. 

June 22, 2023

Artificial Intelligence, and other of the tech-related sectors, were generally under selling pressure yesterday. Not a big surprise given the big gains they have amassed year to date. 

June 21, 2023

June 20, 2023

June 14, 2023

“Event or non-event?” is the question as we await today’s Fed decision. I’m going with non-event mostly because of the action in the underlying market. 

June 13, 2023

The stock market is in Fed-watch mode…or is it? It seems the market’s focal point has been stretching more toward the horizon, and is not so reactive to day-to-day events, or even the Fed meeting. 

June 12, 2023

I’m not a big proponent of the 20% rule — that rule calls for the market to be in a bullish cycle if a particular index goes up by 20% or more from its low point, or bear market if down by 20% or more. 

June 9, 2023

This week’s market action has reinforced the pivot qualities of last Friday’s trading and I think we could see a continuation of that.