Market Interpretation
Steve’s Ten Analysis
Fundamentals
How are inflation, interest rates and growth affecting policies from the Federal Reserve Bank? How are Fed policies affecting the business cycle? What is the yield curve telling us about the future of the economy?
Valuation
Knowing that the stock market historically oscillates between a high and low valuation ratio (P/E ratio), where we are in the cycle is key to making investment decisions.
Technical Analysis
Are we in an uptrend, downtrend or sideways trend? What are the key support and resistance levels where trends can reverse? What is the price structure?
Volume
How can we use volume to interpret institutional money flow? What factors are institutions reacting to?
Volatility
Are volatility indicators signaling systematic risk? What is it saying about how we should position our portfolios?
Breadth
What are breadth indicators telling us about the character of the market? Is it signaling continued strength or a weakness up ahead?
Sentiment
What do sentiment indicators tell us about how the public is positioning their investment portfolios?
Seasonality
Are seasonal factors a tailwind or headwind for the stock market?
Cycles
What are key cycles influencing our expectations for the market? Are different cycles aligned or are they fighting each other?
Relative Strength
What sectors, industries and stocks are showing relative strength?