Mish's Market Minute

February 2023

Mish's Market Minute

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Century Aluminum Pops Up as Bullish

by Mish Schneider

The week is starting out exactly how we expect. The SPY and indices stuck in the trading range within a trading range. The latest economic data weak, hence causing buyers to return to the market, figuring bad news is good news... Read More 

Mish's Market Minute

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Oil, Energy, and Related Stocks of Interest

by Mish Schneider

After the CORE PCE numbers came out on Friday, the market had the expected reaction of selling off in anticipation of a more aggressive Fed. We find the reaction less than surprising... Read More 

Mish's Market Minute

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Sugar Prices Soar -- What Could It Mean?

by Mish Schneider

What if sugar futures are really onto something? What if they are relaying food shortages? More social disruption? The Start of Russian hoarding? Which leads to Geopolitical hell? And all the inflation theories that could still develop are staring us right in the face? In the fac... Read More 

Mish's Market Minute

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"No Landing"—Sugarcoated Words for Stagflation?

by Mish Schneider

The above chart is from our MarketGauge product called Big View. Risk Sentiment Coming into the FOMC, the sentiment for risk is neutral. A week ago sentiment was 100% bullish. A month ago, it was neutral leaning towards bearish... Read More 

Mish's Market Minute

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Classic Short Setup in Tech

by Mish Schneider

Akamai Technologies (AKAM) is a cloud computing company in the tech sector that deals with online security. Up until mid-2022, the trend was up. Then, with the hawkish Fed, the trend changed, with AKAM eventually breaking the 23-month or two-year business cycle in May 2022... Read More 

Mish's Market Minute

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Comparing Gold to the S&P 500

by Mish Schneider

This coming week is a big one. We have FOMC on tap, with some Fed members calling for .50 bps rate hike on the heels of the hot Producer Price Index and inflation... Read More 

Mish's Market Minute

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Is the Whole Country Buying Teslas and Eating at Wingstop?

by Mish Schneider

Wednesday morning brought some love to the US economy. The January retail sales rose 3% month/month vs. +2% estimated. The breakdown fascinates. With food inflation where it is, and egg prices the big headline, the leader for today's number is FOOD, particularly eating out... Read More 

Mish's Market Minute

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CPI Excludes Food: Have You Seen the ETF DBA?

by Mish Schneider

Maybe it's just Valentine's Day, so the food and commodities market sees a push to chocolates, flowers, and fine dining. And maybe not. The consumer price index (CPI) came out with an unexpected rise... but goods remained softer. Services, on the other hand, rose... Read More 

Mish's Market Minute

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Economic Modern Family: More to Prove to Traders

by Mish Schneider

All in all, the key sectors (retail, transportation) have more to prove, especially by clearing the 23-month moving average or 2-year business cycle... Read More 

Mish's Market Minute

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SOTU's Not-so-Subtle Implications for the Market

by Mish Schneider

This is not meant to be political. As we have written many times, politics and investing should not be in the same sentence... Read More 

Mish's Market Minute

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2-Year Business Cycles Matter in Commodities

by Mish Schneider

This week, we have featured the 23-month moving average, or two-year business cycle, and its significance to the indices. In particular, when speaking about the S&P 500 index, we wrote: There was a bullish run in 2021 based on easy money. Inflation ran hotter than most expected... Read More 

Mish's Market Minute

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2-Year Business Cycles Matter in This Market

by Mish Schneider

Some of you might have already heard us speak about the monthly moving averages or have read our commentary about their significance. On Monday, we asked, "What if the trading range top at 4200 we have been calling for in the S&P 500 turns out to be..... Read More 

Mish's Market Minute

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Price Reversals from Recent Highs in Stocks

by Mish Schneider

What if the trading range top at 4200 we have been calling for in the S&P 500 turns out to be..... Read More 

Mish's Market Minute

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Stock Market Stuck with a Plethora of Mixed Signals

by Mish Schneider

If you are having a hard time figuring out the market's next moves, start by thinking about trading range. The 2023 Outlook spells out reasons for a 1000-point trading range potential in the SPY from 3200-4200... Read More 

Mish's Market Minute

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The Labor Market and the Stock Market

by Mish Schneider

By the time you read this, the buzz of what the Fed did and Powell's presser will be over... at least for the day. We will not repeat the obvious... Read More