The stock market is in a rough patch for the first time since the July to October period of last year. After the major indices hit their secondary highs on April 11 (the Nasdaq hit its all-time high that day), is has pretty much been 'down periscope.' Out of those trading six days, the S&P 500 (SPX), Nasdaq, and Nasdaq 100 (QQQ) have fallen between 0.9% and 2.1% on three (SPX) or four of those days. Despite the very steep downside slope of the Big 3, NYSE breadth actually bottomed on April 12 and 15, illustrating that the selling has been concentrated in Big Tech and the many stocks that were overly extended on a momentum basis.

In this edition, we say viva Veeva; the China housing market is building up to something positive; computer software has a great future; and Sensata, Sunny Optical, and Onsemi.

The 'Energizer Bunny' stock market seems to have a lot of juice left, as the major indices powered to new all-time highs on Monday, January 29, while smaller-cap stocks also joined in. The S&P 500 (SPX) and the S&P 100 rose 0.8%, the Nasdaq and Nasdaq 100 rallied a bit more than 1%, the S&P 400 tacked on 0.9%, and the Russell 2000 led the day, popping 1.7%. Ten of the 11 SPX sectors rose, with Consumer Discretionary, Technology, Communication Services, Real Estate, Healthcare, Industrials, Utilities, and Staples all rising 0.6% to 1.5%.

Stocks were mostly lower on Wednesday morning amid mixed earnings reports from major companies and new housing market data. The Commerce Department said that U.S. new home sales rose 12.3% to a seasonally adjusted annualized rate of 759,000 units in September, well above the Reuters consensus forecast of 680,000. On the earnings front, Alphabet posted above-consensus 3Q results, though the shares dropped 9% on concerns about weakness in the company's cloud business. On the positive side, Microsoft shares rose 3% after the company reported strong fiscal 1Q sales and earnings, helped by growth in cloud computing. The Dow rose 0.2%, the S&P fell 0.8%, and the Nasdaq dropped 1.5%. Crude oil fell slightly to $83.50 per barrel, while gold traded near $1987 per ounce.

Monday Tee Up: Another Fed Hike?

Monday Tee Up: Heavy Data Week: Earnings, Inflation, GDP

We are raising our intermediate-term technical outlook back to bullish from neutral. After breaking out of a bullish cup formation on February 1, and above chart resistance from the prior highs at 4,100, the S&P 500 (SPX) pulled right back to that level on Monday and again on an intraday basis on Tuesday. The index also fell right to short-term trendline support off the lows since January 20. The result was a picture-perfect bullish backtest of support and a very strong bounce.

The stock market had a wild ride in the trading week ended Friday, October 21, with a big rally on Monday and early strength Tuesday, before the sellers moved in. Wednesday was a mild down day and Thursday wasn't a big downer -- but some nice early gains were lost. Friday, which has not been a good day for stocks for the past five weeks, helped push the market to a strong finish.

In this edition, Examining the All-Important ERP Ecosystem, China Real Estate Prospects, the State of Comcast, and Fortune Brands, T-Mobile, and Teradyne.

The volume of weekly insider transactions remains very low, which is to be expected as earnings season is in full swing and executives, directors, and beneficial owners are broadly prohibited from trading. But as was the case last week, the current data from Vickers Stock Research provides a clear picture of insider sentiment that remains balanced and seemingly optimistic.

Stocks plunged again on Tuesday morning, reversing Monday's gains amid continued concerns about inflation, Fed policy, the war in Ukraine, and the expanding pandemic in China. Housing market data was weak. The Commerce Department said that U.S. new home sales fell 8.6% in March to a seasonally adjusted annual rate of 763,000 units, below the Reuters consensus forecast of 765,000. On the earnings front, PepsiCo shares rose slightly after the company posted better-than-expected 1Q results and raised its full-year sales guidance. The Dow fell 1.7%, the S&P 2.1%, and the Nasdaq 3.2%. Crude oil traded near $101 per barrel, while gold rose to $1904 per ounce.

This edition features ESAB's moat construction, Elastic's inelasticity, Bramble's solid pallet pooling services, and SAP, AutoNation, and Equifax.

The stock market kicked off February with a winning week, though 2022 remains deeply in the loss column. On Friday, the Dow Jones Industrial Average edged down by 21 points, or 0.06%. The S&P 500 was up 0.52%, and the Nasdaq Composite rose 1.58%. For the week, the DJIA was up 364 points, or 1.05%, the S&P 500 was up 1.55%, and the Nasdaq Composite was up 2.38%. Year-to-date, the Dow is down 3.44%; the S&P 500 is off 5.57%; and the Nasdaq Composite is on the edge of correction territory, down 9.89%.

Earnings season is in full swing; investors are focused somewhat on results, but mostly on guidance and pandemic developments; and insider-transaction volume is predictably light with corporate executives, directors and beneficial owners mostly sidelined while material, non-public information hits the airwaves. With all that background, what jumps out this week in a review of insider-transaction data from Vickers Stock Research?

Corporate insiders continue to show relative indifference to equities, neither buying nor selling aggressively. We've used this space to suggest that current insider sentiment is not surprising, given that major stock indices are at all-time highs. Still, valuations could become more appealing if corporate earnings continue to rise and global economies continue to recover. With that in mind, current insider sentiment seems reasonable. But is it in keeping with historical behavior?

If we had to take part in a debate about insider sentiment, we could easily support the argument that insider sentiment is improving. We also could easily support the argument that insider sentiment is not improving. The factors involved in said debate are the absolute values of insider-sentiment gauges from Vickers Stock Research, the trends for those values, and the rate of change for those trends.

Stocks rose again on Monday morning, continuing their recent rally, amid optimism about federal stimulus spending, the ongoing vaccine rollout, and the decline in new U.S. coronavirus cases. Prior to the open, 59% of S&P 500 companies had reported 4Q earnings, according to FactSet, and 81% of these companies had topped expectations. The Dow rose 0.4%, the S&P 0.3%, and the Nasdaq 0.4%. Crude oil traded near $58 per barrel, while gold rose $26 to $1839 per ounce.

In the past few weeks, the S&P 500 has drifted down from its October closing high of 3,534 on 10/12/20, hit an end-of-day low of 3,427 on 10/19/20, and worked back up to 3,465 at the close on October 23. The market is down about 2% from that mid-October high but still up 3% for the month, coming off September's 4% decline.

Between 2/5/20 and 2/12/20, the S&P 500 traded above 3,300, before its spectacular fall to the 2,300s in the final weeks of March. On 7/22/20, the index closed at 3,276 -- the closest is has come to 3,300 since February. But stocks slid on 7/23 and 7/24 as a rising tide of new coronavirus infections and daily deaths took its toll and investors beat-up on growth leaders. NFLX, among the darling stocks, was the lone riser after Disney pushed its 2020 release slate into 2021.

Between 2/5/20 and 2/12/20, the S&P 500 traded above 3,300, before its spectacular fall to the 2,300s in the final weeks of March. On 7/22/20, the index closed at 3,276 -- the closest is has come to 3,300 since February. But stocks slid on 7/23 and 7/24 as a rising tide of new coronavirus infections and daily deaths took its toll and investors beat-up on growth leaders. NFLX, among the darling stocks, was the lone riser after Disney pushed its 2020 release slate into 2021.

Stocks finished mixed on Thursday after paring sharp mid-session losses. Investors again focused on soaring new COVID-19 cases, as well as on unemployment benefit claims that remained near record levels, despite a modest decrease from the prior week. First-time claims for state benefits fell by 99,000 to 1.314 million for the week ended July 4, and continuing claims, reported with a one-week lag, fell by 698,000 to 18.06 million, both below consensus forecasts. However, claims under the federal Pandemic Unemployment Assistance program, for freelancers and other self-employed workers not covered by state benefits, rose by 42,000 to 14.4 million. In all, more than 32 million Americans were receiving unemployment benefits in late June. The Dow fell 1.39%, the S&P fell 0.56%, and the Nasdaq rose 0.53%. Crude oil fell 3.5% to $39.50 per barrel, while gold fell $12 to $1808 per ounce.

Stocks finished mixed on Thursday after paring sharp mid-session losses. Investors again focused on soaring new COVID-19 cases, as well as on unemployment benefit claims that remained near record levels, despite a modest decrease from the prior week. First-time claims for state benefits fell by 99,000 to 1.314 million for the week ended July 4, and continuing claims, reported with a one-week lag, fell by 698,000 to 18.06 million, both below consensus forecasts. However, claims under the federal Pandemic Unemployment Assistance program, for freelancers and other self-employed workers not covered by state benefits, rose by 42,000 to 14.4 million. In all, more than 32 million Americans were receiving unemployment benefits in late June. The Dow fell 1.39%, the S&P fell 0.56%, and the Nasdaq rose 0.53%. Crude oil fell 3.5% to $39.50 per barrel, while gold fell $12 to $1808 per ounce.

SAP is a global software vendor providing solutions for enterprise resource planning, database management, business intelligence, and vertical-specific software. Its flagship software products run on SAP’s HANA database technology. In fiscal 2019, the company generated roughly 44% of revenue from Europe, the Middle East, and Africa, 41% from the Americas, and 15% from Asia.

Stocks rose on Wednesday morning after the Senate approved $484 billion in new funding for small businesses and hospitals, as well as for coronavirus testing. The bill must still past the House, where a vote is expected on Thursday. Netflix shares fell more than 2% despite first-quarter net subscriber additions that more than doubled management's forecast. The Dow rose 2.0%, the S&P 2.1%, and the Nasdaq 2.4%. Crude oil rose $3 to $14.60 per barrel, while gold rose $43 to $1730 per ounce.

Stocks rose on Wednesday morning after the Senate approved $484 billion in new funding for small businesses and hospitals, as well as for coronavirus testing. The bill must still past the House, where a vote is expected on Thursday. Netflix shares fell more than 2% despite first-quarter net subscriber additions that more than doubled management's forecast. The Dow rose 2.0%, the S&P 2.1%, and the Nasdaq 2.4%. Crude oil rose $3 to $14.60 per barrel, while gold rose $43 to $1730 per ounce.

Recently, we looked at the poor technical condition of the majority of stocks in the S&P 500. Only 20% of the '500' have recovered back above their 200-day average. Let's see if things are any better in the other indices.

Recently, we looked at the poor technical condition of the majority of stocks in the S&P 500. Only 20% of the '500' have recovered back above their 200-day average. Let's see if things are any better in the other indices.

The onset and spread of the coronavirus around the world and in the U.S. has led to a sharp (bear market) decline in stock prices and a surge in volatility. The VIX Volatility Index, which had declined to 12 in January, has shot as high as 75 in recent days as investors try to come to grips with the ultimate economic impact of the virus. We had started the year expecting an economic slowdown and revised our outlook downward two weeks ago due to the impact of the virus on the Chinese economies and supply chains. As the spread of the virus has worsened, we have lowered expectations further and now expect an economic recession in the U.S., with negative growth in the second and third quarters. And depending on how quickly social distancing lowers the curve, the outlook could worsen. Beta is a financial metric that indicates how closely stocks trade in line with the market. The lower the beta, the less likely a stock is to move along with the S&P 500. Here are 10 BUY-rated Argus-followed stocks that also have below-market betas, dividend payments and Argus Financial Strength Ratings of High. These stocks might not be as susceptible to stock-market gyrations.

The onset and spread of the coronavirus around the world and in the U.S. has led to a sharp (bear market) decline in stock prices and a surge in volatility. The VIX Volatility Index, which had declined to 12 in January, has shot as high as 75 in recent days as investors try to come to grips with the ultimate economic impact of the virus. We had started the year expecting an economic slowdown and revised our outlook downward two weeks ago due to the impact of the virus on the Chinese economies and supply chains. As the spread of the virus has worsened, we have lowered expectations further and now expect an economic recession in the U.S., with negative growth in the second and third quarters. And depending on how quickly social distancing lowers the curve, the outlook could worsen. Beta is a financial metric that indicates how closely stocks trade in line with the market. The lower the beta, the less likely a stock is to move along with the S&P 500. Here are 10 BUY-rated Argus-followed stocks that also have below-market betas, dividend payments and Argus Financial Strength Ratings of High. These stocks might not be as susceptible to stock-market gyrations.

SAP is a global software vendor providing solutions for enterprise resource planning, database management, business intelligence, and vertical-specific software. Its flagship software products run on SAP’s HANA database technology. In fiscal 2017, the company generated roughly 44% of revenue from Europe, the Middle East, and Africa, 40% from the Americas, and 16% from Asia.

Stocks fell sharply on Friday, as concerns about the increasing death toll and potential economic impact of the coronavirus reached heightened levels. The Dow Jones Industrial Average fell 2.1%, the Nasdaq Composite was down 1.6% and the S&P 500 declined 1.8%. The benchmarks were volatile all week, as virus news flow worsened to include additional travel restrictions, halted commercial flights and the World Health Organization declaring a public health emergency. For the week, the Dow dropped 2.5%, while the Nasdaq and S&P 500 fell 1.8% and 2.1%, respectively. The poor weekly showing pushed the Dow and S&P 500 to year-to-date losses of 1.0% and 0.2%, respectively, while the Nasdaq clings to a 2.0% gain.

Between 2/5/20 and 2/12/20, the S&P 500 traded above 3,300, before its spectacular fall to the 2,300s in the final weeks of March. On 7/22/20, the index closed at 3,276 -- the closest is has come to 3,300 since February. But stocks slid on 7/23 and 7/24 as a rising tide of new coronavirus infections and daily deaths took its toll and investors beat-up on growth leaders. NFLX, among the darling stocks, was the lone riser after Disney pushed its 2020 release slate into 2021.

Stocks finished mixed on Thursday after paring sharp mid-session losses. Investors again focused on soaring new COVID-19 cases, as well as on unemployment benefit claims that remained near record levels, despite a modest decrease from the prior week. First-time claims for state benefits fell by 99,000 to 1.314 million for the week ended July 4, and continuing claims, reported with a one-week lag, fell by 698,000 to 18.06 million, both below consensus forecasts. However, claims under the federal Pandemic Unemployment Assistance program, for freelancers and other self-employed workers not covered by state benefits, rose by 42,000 to 14.4 million. In all, more than 32 million Americans were receiving unemployment benefits in late June. The Dow fell 1.39%, the S&P fell 0.56%, and the Nasdaq rose 0.53%. Crude oil fell 3.5% to $39.50 per barrel, while gold fell $12 to $1808 per ounce.

Stocks rose on Wednesday morning after the Senate approved $484 billion in new funding for small businesses and hospitals, as well as for coronavirus testing. The bill must still past the House, where a vote is expected on Thursday. Netflix shares fell more than 2% despite first-quarter net subscriber additions that more than doubled management's forecast. The Dow rose 2.0%, the S&P 2.1%, and the Nasdaq 2.4%. Crude oil rose $3 to $14.60 per barrel, while gold rose $43 to $1730 per ounce.

Recently, we looked at the poor technical condition of the majority of stocks in the S&P 500. Only 20% of the '500' have recovered back above their 200-day average. Let's see if things are any better in the other indices.