Mish's Market Minute

August 2020

Mish's Market Minute

A Unique Market Indicator for Monday

by Geoff Bysshe

The weekend is the time to step back and look at the Modern Family's weekly trends and inflection points. This week, there are several interesting multi-timeframe patterns developing on the daily and weekly charts; some bullish, others bearish... Read More 

Mish's Market Minute

Big Red Flag for Stocks on Fed Day

by Geoff Bysshe

Today, while the SPY and QQQ were pushing to new highs, the VXX was telling a dramatically different story, which is a warning sign for a potential imminent correction... Read More 

Mish's Market Minute

Patterns Combust into Panic

by Geoff Bysshe

If you were to look at the Modern Family you'd see a quiet August trading day waiting to hear Fed Chair Powell's speech tomorrow. Grandpa Russell (IWM) fell asleep and closed down for the day firmly stuck in a two-week bullish flag... Read More 

Mish's Market Minute

No Recovery Happening Here

by Geoff Bysshe

Today's chart (below) is the consumer confidence survey data, which today hit its lowest level since 2014. At the same time, data on new home sales, as well as earnings from home builder Toll Brothers (TOL), are at their best levels in years... Read More 

Mish's Market Minute

A Secret Buy Signal

by Geoff Bysshe

Today was the first time that the SPY opened lower than the prior day's low since July 24th. The same is true for the QQQ. Grandpa Russell did it just last week, but not since July 7th prior to that... Read More 

Mish's Market Minute

The Fed: Friend or Foe?

by Geoff Bysshe

With so much attention being paid to AAPL reaching a valuation of $2 trillion, I decided to see if AAPL's market cap would make it into the IMF's list of the world's richest countries based on GDP... Read More 

Mish's Market Minute

Blowout Earnings Report in WMT Benefits its Competition

by Geoff Bysshe

There were several market messages in today's price action. Starting from the top... The SPY finally closed at an all-time higha nd, after what seems like weeks of anticipating this moment, it closed over the level by fractions of a percent and a doji pattern... Read More 

Mish's Market Minute

Stocks Like Mondays

by Geoff Bysshe

It was a quiet news day, but Mondays don't need news to go up. Today's image above represents the percentage of times that Mondays have closed higher than their Friday close since the March bottom... Read More 

Mish's Market Minute

Did You Know This About XRT and TLT?

by Geoff Bysshe

As the S&P 500 struggles to rise a fraction of a percentage point to be able to achieve the status of reclaiming its February all-time high level... Imagine you could go back to February 19th, 2020... Read More 

Mish's Market Minute

If This Line Doesn't Hold, Stocks May Get Hit

by Geoff Bysshe

While the media is obsessively focused on cheering for the S&P 500 to close at a new all-time high, the bond market is quietly collapsing. TLT broke its 50-DMA today and has now had its second worst 5-day slide since the March 2020 meltdown... Read More 

Mish's Market Minute

This Base Breakout Should Concern You

by Geoff Bysshe

Today's chart is one that every investor should keep an eye on (but most will not), as that double bottom base breakout pattern is in a market that has been declining for almost a decade! However, there's good reason to believe it could wake up like gold has in the last few years... Read More 

Mish's Market Minute

Mish Warned You About Junk Bonds...

by Geoff Bysshe

Will today's market tremors shake the QQQ out of its solidly bullish 4-month channel? On April 14th, the QQQ broke above its 50 DMA (blue line) and began the trend that you see above. A steady trend line with 6 points is an impressive feat... Read More 

Mish's Market Minute

3 Major Market Themes for the Rest of August

by Mish Schneider

As Keith and I are heading on a vacation (with social distancing) starting Monday for 3 weeks, this is the last Daily that I will write until September 1st. Yet, not to worry, Geoff Bysshe will be taking over both my subscription service and the writing of the Daily blog... Read More 

Mish's Market Minute

Regional Banks - The Prodigal Dunce

by Mish Schneider

With the Russell 2000 breaking out over the 50 and 200-week moving averages, the market looks like blue skies, right? Retail (XRT) ran to just over $50.00. Sister Semiconductors (SMH) rocked to another new all-time high... Read More 

Mish's Market Minute

Prodigal Son Regional Banks - A Ball and Chain

by Mish Schneider

With the Russell 2000 breaking out over the 50- and 200-week moving averages, we should see nothing but blue skies, right? Maybe. We have lots of positives based on hope, of course. Retail (XRT), as featured a while back, is doing well... Read More 

Mish's Market Minute

Is NASDAQ Tiring?

by Mish Schneider

A few cautious flags were thrown up today in spite of the new all-time highs in NASDAQ. The volume was light. After Friday's spike in volume, Monday QQQs saw below-average daily volume... Read More 

Mish's Market Minute

A Summer Road Trip with the Economic Modern Family

by Mish Schneider

Last week, Max Wiethe from Real Vision and I sat down for about an hour to discuss a myriad of timely and relevant market topics. (See the link at the end of the commentary). So much happened in this past week. The short list: Blow-out Earnings of Apple (AAPL), Alphabet Inc... Read More