Archives: Mish's Daily

Is the Market Like a Rose in a Bubble?

Mish Schneider | February 14, 2019

The Russell 2000 IWM, like the perfect rose on Valentine’s Day, fell right to the tick, the support level mentioned in last night’s Daily. “Russell 2000 (IWM) 152.40 now pivotal support.” Furthermore, Transportation IYT, added a heart above the quintessential rose, when it cleared another key level mentioned. “IYT (Transportation) 185.50 now support with 189.74 the next bigger resistance point.” And the tissue paper came in the form of Retail XRT when it also wrapped


Can Granddad Russell 2000 Hold onto the Bucking Bull?

Mish Schneider | February 13, 2019

Yesterday, we covered the laggard of the Modern Family throughout this rally or Retail (XRT), which mainly represents the brick and mortar stores. Yesterday, XRT finally cleared the 200-WMA at 44.66. Today, XRT closed at 44.91. Today, we switch our focus to Russell 2000 IWM. The Russell 2000 (IWM) is all about manufacturing and supply in the United States. In terms of performance compared to the other 3 indices, it too is a laggard. Our


Red Granny Retail Pulls Out Her Green Knitting

Mish Schneider | February 12, 2019

The laggard of the Modern Family throughout this rally has been Retail (XRT), which mainly represents the brick and mortar stores. While the rest of the Family (Russell 2000, Biotech, Transports, Regional Banks, and Semiconductors) have been trading over their 200-WMA (week moving average), XRT has not. Plus, honorary mention goes to Semiconductors SMH, now above its 50-WMA, provided it holds above 101. So, when XRT finally cleared the 200-WMA at 44.66, she put her


Market Snoozes, But Keep Your Tools Close By

Mish Schneider | February 11, 2019

It was a choppy session today, which given where the indices sit on the both the Daily and Weekly charts, makes sense. Choppiness also makes sense, given the potential government shutdown and the vague details on the progress of the China-U.S. Tariff discussions. Today was a good day to have all your tools around you, but not act on using them to build anything new in your portfolio. Rather, today was a good day to


Weekly Update on The Economic Modern Family

Mish Schneider | February 9, 2019

Last year, I worked with a dollmaker to create these dolls that represent the diverse and important sectors of the U.S. Economy. She took the cartoon image you see on the bottom of the photo, and went to work. I now have six amazing characterizations of the economy that stand approximately 18 inches tall. From left to right-Sister Semiconductors (SMH), Prodigal Son Regional Banks (KRE), Granddad Russell 2000 (IWM), Granny Retail (XRT), Tran Transportation IYT,


The Year of The Pig Sidles Up to the Market Bears

Mish Schneider | February 7, 2019

Piglet sidled up to Pooh from behind. Pooh, he whispered, ”Yes, Piglet?” “Nothing,” said Piglet, taking Pooh’s paw. “I just wanted to be sure of you.” Will Dubby Fuqua-Artist-Arnold Lieberman Gallery When a pig, in the Year of the Pig, sidles up to a bear (Pooh), you can expect action like we saw in the market today. When a pig just wants to be sure of the bear, you get a downturn as the bears


Market Bears Wait for The Fall From the Wall

Mish Schneider | February 6, 2019

With a market up 17% from the December lows, many, including myself, are left wondering if we should still consider this a dead cat bounce, or the foundation for a melt up. Technically speaking, only Biotechnology (IBB) and Semiconductors (SMH) have entered a weekly bullish phase. And both need to close above their weekly 50-WMAs again this week to confirm. That means IBB must close the week above 109.90 and SMH above 101.06. What makes


Mr. Ham Says Watch Plants

Mish Schneider | February 5, 2019

Before I begin, here is the video I made when I met Mr. Ham. He (and his friend Scruffy) are hard to resist. https://twitter.com/marketminute/status/1092500106119499788 The takeaway from the research I have done on Feng Shui predictions, have been both auspicious and ominous. One of the auspicious predictions has been investments related to plants. Pot is a plant. But so are agriculturals. Wheat, corn, soybeans, coffee and sugar have been languishing for years. I focused on


Weekly Charts on Economic Modern Family

Mish Schneider | February 4, 2019

I will continue to write more about the Year of the Pig. However, since I did not cover the weekly charts on the Modern Family as I have customarily done, let’s start the week with a view. From top left to right The Russell 2000 IWM, Transportation IYT, Retail XRT. From bottom left to right Biotechnology IBB, Regional Banks KRE, Semiconductors SMH So much bullishness. Is it warranted? Beginning with IWM, 150 was a good


Get Ready for the Year of the Pig

Mish Schneider | February 3, 2019

As I have done for the last five years, I consult with Raymond Lo, Master of Feng Shui and the most incredibly accurate predictor of events I have read. For example, in 2017 he wrote that in October 2018, the water element would replace fire and we would have the start of a bear market. I wish I could tell you that he is more optimistic for this year. He is not. He begins this