We start off today with a chart comparison between the S&P 500 Index (SPX) from 1982 (above) and the current time period. Our ongoing argument has been that the SPX would make a bottom in March, rally for two months into...
Read MoreKevin Klombies has advised that he will not be posting commentary for today as he is traveling. In the meantime, please enjoy reading his previous commentaries posted at:...
Read MoreNote: There will not be an IMRA issue published for tomorrow. We will be on the road until Sunday but it should be business as usual next week.All things considered yesterday was a very ‘dollar positive’ day. To...
Read MoreThe markets have an intriguing tendency to do the ‘same thing’ over and over again but usually with a different cast of characters. Over the past few years, for example, the energy sector has been strong through the...
Read MoreP-Published: Thursday, March 9, 1989 -Japanese investment in United States real estate rose nearly a third last year, with California attracting more investment than any other state and Los Angeles more than any other city. July...
Read MoreThe burning question at the moment is whether China’s economy can continue to drive cyclical growth through the balance of the year in a manner similar to recent end-of-decade trends or whether the tendency exhibited over...
Read MoreWe are going to show the same two charts that we included yesterday on this page but for different time frames. To get things started we have added a chart at right of the CRB Index and the share price of Coca Cola (KO) from...
Read MoreWe are going to get ‘macro’ once again today. At right we show a chart comparison between the CRB Index (commodity prices) and the share price of Coca Cola (KO). Coke has been scaled in semi-log.Following the...
Read MoreBelow we show a chart comparison between the ratio of crude oil prices to natural gas prices and the ratio of the Japanese 10-year (JGB) bond futures to the U.S. 10-year T-Note futures. In trading yesterday crude oil futures...
Read MoreWith the second quarter drawing to a close tomorrow we thought this might be an opportune time to run quickly back through the 2-year lag argument. The idea is that cyclical strength tends to lag trend changes for interest rates...
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