Game Changers In The Financial Services Industry!

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I've been involved with the Financial Services Industry for the past 34 years. During that time frame I've attended my fair share of meetings. When I look back over the past three decades, two meeting stick out to me...Stocktoberfest the past two years! If you haven't been able to attended these meetings the past few years, put it on your calendar for next year! 

When it comes to people reshaping this business and they way we think/do business, many people come to my mind, these three shared outstanding ideas and insights at the meeting this week. Hardeep Walia  (Motif Investing), Howard Lindzon (Stocktwits) and Josh Brown (Reformed Broker).

These three are not only brilliant pioneers, they are great people. It was a true honor to spend some time with each of you this week. Thanks for all you do guys. Chris

 

“Spooky” price point for S&P 500 bulls could be at hand right now!

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Make no mistake about it, the trend is up in the S&P 500 at this time, due to being above its 100 & 200MA lines and rising support. Something is catching my eye, one day before Halloween.

This has my attention-SPY is testing the underside of an old support line at resistance right now. Sometimes this can become an important situation.

I believe this is price point could be a little more important than usual, due to the potential that a small head & shoulders topping pattern could be in play.

If SPY breaks above the dual resistance it is facing right now, no doubt it would be a positive for the bulls. 

If SPY turns south from this price point, it has potential to be a "Spooky" situation for the broad markets.

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Russell doubles S&P’s performance of late, breakout could be near!

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 A couple of weeks ago on See it Markets, the Power of the Pattern suggested that Small Caps looked poised to rally (see post here). The article highlighted that the Russell 2000's performance year-to-date was lagging the S&P by a large percentage and Russell/SPY ratio was hitting multiple support points with momentum oversold.

The past 19 days has been good for the S&P 500, as its up over 4%. The time frame has been even better for small caps, as they have doubled the gains, making over 9%.

The top chart now reflects that the ratio is making an attempt to break above steep falling resistance with momentum still oversold. 

Many have been concerned that the weakness in small caps this year was a sign that the broad markets could be in trouble going forward. Humbly, these concerns were understandable. If a breakout in the ratio takes place and it continues to push higher, it should be a positive sign for both small caps and the broad markets.

Earlier this month I shared "Three Reasons Why Stocks Could Do Well In The 4th Quarter"  If this ratio should break out, it would be another reason stocks could do well between now and the first of the year. 

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