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 >

By Steve Blumenthal May 13, 2020 S&P 500 Index -- 2,865 (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 8, 2020 By Steve Blumenthal “We’re only down 15% from the all-time high of February 19, and it seems to me that the world is more than 15% screwed up.” - Howard Marks, Co-Founder and Co-Chairman, Oaktree Capital (April 20, 2020) When asked for his thoughts on the market, my friend and [...]Read More >

By Steve Blumenthal May 6, 2020 S&P 500 Index -- 2,883 (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 1, 2020 By Steve Blumenthal “The net effect will further worsen the debt overhang. We know from similar efforts here, in Japan, Europe, and China this provides no more than a fleeting boost to economic activity at the expense of additional weakness in future economic activity. This shift [...]Read More >

By Steve Blumenthal April 29, 2020 S&P 500 Index -- 2,938 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 >

April 24, 2020 By Steve Blumenthal “In order to understand why empires and their economies rise and fall and what is happening to the world order right now, you need to understand how money, credit, and debt work. Understanding how they work is critically important because that which has [...]Read More >

By Steve Blumenthal April 22, 2020 S&P 500 Index -- 2,807 (close) 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 [...]Read More >

April 17, 2020 By Steve Blumenthal “For the time before this current crisis, I give practically all central banks a miserable grade. But in the crisis they do the right thing. Well, the Fed's rate cuts would not have been necessary, they are of no use in the current situation. But it is [...]Read More >

By Steve Blumenthal April 15, 2020 S&P 500 Index -- 2,783 (close) 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 [...]Read More >

April 10, 2020 By Steve Blumenthal “So that the record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free enterprise system.” - [...]Read More >

By Steve Blumenthal April 8, 2020 S&P 500 Index -- 2,715 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 >

April 3, 2020 By Steve Blumenthal “There are no new eras—excesses are never permanent.” – Bob Farrell Bob Farrell’s 10 Rules for Investing I went to sleep last night with more hope in my heart then I’ve felt over the last several weeks. These days, I’ve been feeling more like Eeyore than [...]Read More >

By Steve Blumenthal April 1, 2020 S&P 500 Index -- 2,471 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 >

March 27, 2020 By Steve Blumenthal "We entered into the current crisis with a whole financial system that had been incentivized by policymakers to take on excessive levels of debt and leverage. The turmoil we are seeing right now is the result of the unwinding of this leverage. The primary [...]Read More >