The CBOE Volatility Index reflecting some shakeup of complacency in yesterday’s session, with the VIX (“Fear Index”) moving above the 15 level. 

AI stocks appear to be sputtering ahead of the 1st quarter earnings reporting season, which should come as no surprise given the big gains that this category has scored year to date. 

It was 26 years ago that I first appeared on Wall Street Week with Louis Rukeyser and I was billed the “No April Fool.” 

Rotation was on full display in yesterday’s session, a session that saw the Dow and S&P 500 rally into uncharted territory… 

The stock market has been consolidating over the last three trading sessions, essentially since its initial, positive knee-jerk reaction to the Fed’s announcement last week that it may cut rates up to three times this year. 

The S&P 400 Midcap Index is up just under 8% year to date. That puts its performance in close proximity to the S&P 500 and the Nasdaq. I think this is important because… 

Yesterday’s market was the latest example of how difficult, if not futile, it is to try to sharp shoot near-term support and resistance targets, and to set objectives for the major market indices. 

This is a Fed-decision Wednesday. The Fed due to announce its decision on interest rates early this afternoon and perhaps more importantly investors will be awaiting the accompanying statement… 

The CBOE Volatility Index (“fear index”) has been in a basic downtrend since October 2022, but since then there have been several instances where it has established a short-term base… 

Several weeks ago, I mentioned that it seemed to me that the CBOE Volatility Index was in a bottoming formation, and that I believe continues to be the case…