July 2, 2020 By Steve Blumenthal “I don’t see us wanting to run through the bond market like an elephant, you know, doing things and snuffing out price signals or things like that. We just want to be there if things turn bad in the economy or if things go in a negative direction, we want to [...]Read More >

By Steve Blumenthal July 1, 2020 S&P 500 Index -- 3,115 Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

June 26, 2020 By Steve Blumenthal “Retain faith that you will prevail in the end regardless of the difficulties, and at the same time confront the most brutal facts of your current reality, whatever they may be.” – Jim Collins Management Researcher, Consultant, and Author of Good to Great: [...]Read More >

By Steve Blumenthal June 24, 2020 S&P 500 Index -- 3,131 Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

June 19, 2020 By Steve Blumenthal “I can’t believe there is no uproar for a policy that involves so much resource misallocation, moral hazard behavior, and price manipulation.” – David Rosenberg President and Chief Economist & Strategist of Rosenberg Research & Associates Inc. That [...]Read More >

By Steve Blumenthal June 17, 2020 S&P 500 Index -- 3,119 Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

June 12, 2020 By Steve Blumenthal “We are strongly committed to using our tools to do whatever we can and for as long as it takes to provide some relief and stability.” - Federal Reserve Chairman Jerome Powell (June 10, 2020) Last week we took a look at valuations and what they tell us about [...]Read More >

By Steve Blumenthal June 10, 2020 S&P 500 Index -- 3,200 (open) Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

June 5, 2020 By Steve Blumenthal “You will get business failures on a grand scale.” - James Bullard, President of the Federal Reserve Bank of St. Louis (May 12, 2020) Let’s talk about valuations. Forward price-to-earnings (P/E) sits at 22.4. Median P/E (my favorite indicator, which looks at [...]Read More >

By Steve Blumenthal June 3, 2020 S&P 500 Index -- 3,080 (open) Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

May 29, 2020 By Steve Blumenthal Wisdom (noun): The quality or state of being wise; knowledge of what is true or right coupled with just judgment as to action; sagacity, discernment, or insight. This week you’ll find my summary notes and thoughts from Dr. Lacy Hunt’s SIC 2020 presentation. He [...]Read More >

By Steve Blumenthal May 27, 2020 S&P 500 Index -- 2,991 (open) Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

May 22, 2020 By Steve Blumenthal “The problem I have is that it’s pure fantasy to think that normalized earnings are not going to be seriously dented by the likely permanent loss of some 10 million workers in the future from what the baseline was prior to the crisis, which means lost labor [...]Read More >

By Steve Blumenthal May 20, 2020 S&P 500 Index -- 2,923 (open) Posted each Wednesday, Trade Signals looks at several of my favorite equity market, investor sentiment, fixed income, economic, recession and gold market indicators. Market trends persist over time and stem from changes in risk [...]Read More >

May 15, 2020 By Steve Blumenthal “There is no atheist in a foxhole; there is no capitalist in a crisis.” - Jim Bianco, President and Macro Strategist, Bianco Research (Mauldin Economics Virtual Strategic Investment Conference, 2020) Rosenberg stepped to the plate. As leadoff hitter for more [...]Read More >