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Tackle Today: Can bears hibernate twice a year?

March 11, 2019

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≈ Market bulls should certainly hope they can. ≈

Eventually the bear comes out of hibernation. No not the “market bear”, I am talking about real bears. It is so hard to talk about real bears with investors and traders…such a figurative bunch. Anyway, did you know black and grizzle bears will hibernate on average 7 ½ months? Don’t believe me? Ticker symbol GOOG it. 

You know what else hibernates? Market storylines. Last fall all the market was talking about for a few weeks was the Global Economic Slowdown. Well that storyline went into deep hibernation as the market got distracted with yields hitting 3%, then a stubbornly hawkish Fed, then Steve Mnuchin trying to singularly destroy the market in a single day, then a suddenly dovish fed and then an endless string of headlines that the China/U.S. trade war was almost over. It has been a busy winter!

The market doesn’t multi-task very well. You should see it try and walk and chew gum at the same time. Well guess who’s back? No, it’s not Slim Shady, it’s the Global Economic Slowdown. It never really went away, the market simply didn’t pay attention to it (see walk and chew gum reference). Absent more exciting things to focus on the market is again talking about economic data and it remains very weak around the globe. 

Can bears hibernate twice a year? Market bulls should certainly hope they can. 

Chart of the Day

S&P 500 (SPY)

COD Mar 11

In the first real pullback of 2019, the intraday lows have been broken from each of the last few trading sessions. Some level of short-term support forming would be a welcome sight for market bulls looking to get in on this pullback.

Video of the day

What is Monetary Supply

Monetary Supply refers to the total value of monetary assets available in an economy at a specific time. 

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