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Afternoon Note

Spinning Wheels

By Charles Payne, CEO & Principal Analyst
3/26/2019 1:26 PM
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Question of the Week

The market is seeing an interest rate cut on the horizon. Do you think this is good news?

Post your answer below.

The market is higher, but after hurdling disappointing economic data, the rally has stalled.

Housing starts missed, and permits were slightly less than expected; while consumer confidence came in below consensus, as present conditions slipped more than expectations.

Most worrisome is the decline in business conditions, “good,” which slipped to 33.4 from 40.6.  Overall, the report was disappointing, as the street was looking for 132.0; although, confidence is near historic highs.

The market is going through a period of understanding the implications of new Fed policy and day to day economic data.  The good news is the market has found its footing, and the downside bias has been blunted.  But until key resistance is taken out, the market could spin its wheels for a while.

S&P 500 Index


Communication Services (XLC)


Consumer Discretionary (XLY)


Consumer Staples (XLP)


Energy (XLE)


Financials (XLF)


Health Care (XLV)


Industrials (XLI)


Materials (XLB)


Real Estate (XLRE)


Technology (XLK)


Utilities (XLU)



Energy is the best performing sector, as West Texas Intermediate continues its attempts to breakout through $60.00.  Keep in mind, it’s hard to argue recession when oil continues to surge higher.


Love your work. On the charts it would be helpful if the text could be a bit larger - consistently cannot read the legend or the scales. Neal

Neal on 3/26/2019 2:18:01 PM
Add to this data the almost relentless MSM reporting that a recession is right around the corner. Could this be enabling the change in attitude/

David Begley on 3/26/2019 2:35:32 PM
Santander worth buying

Dave on 3/26/2019 2:49:37 PM
Charles. Interest rate CUTS are expected, just like Chicago's mayor bribed to keep jussie Smollet's $10,000 bail, which is being kept, court files are sealed, Now the Chicago mayor can fake outrage at the ALL CHARGES DROPPED. HMMM Sounds like a DEMOCRATIC BRIBERY SCHEME since Muller reported No COLLUSION, No OBSTRUCTION, No ATTEMPT at INTERFERENCE with Muller INVESTIGATION. So of COURSE Chicago let smollett off ,no jail, 18 hrs community service. Above the law like HRC, & DEMOCRATS.

J on 3/26/2019 8:08:27 PM

ERNEST REMUS on 4/17/2019 2:33:04 PM

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