Markets
markets
Luke Kawa

Technical indicator delivers first “buy” signal on the S&P 500 in years

When richly valued, high-flying stocks reverse course and play the biggest role in creating stock market distress, it can often be very difficult to pick out a time when the selling might be exhausted. Is a 40x forward price-to-earnings multiple for these types of stocks the bottom? 30x? 25x? Honestly, who knows.

So at times like these, it can be useful to look for technical solutions to technical problems. And one may have just arrived!

The S&P 500’s Relative Strength Index (RSI), a gauge of the magnitude and persistence of price movements, closed in “oversold” territory on Monday and Tuesday (that is, below 30). An RSI “buy” signal is generated when the index crosses back above 30, and, well, that’s what we got:

The S&P 500’s last 14-day RSI buy signal, on a close-to-close basis, was generated on October 30, 2023. Past is certainly not prologue, but the benchmark US stock index ripped 16% higher in the three months that followed.

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Luke Kawa
8/17/26
Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

New York City Architecture And Monuments
Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise
Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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