The Weekend Rip: Head Fakes & Dead Cats

The Weekend Rip 3/29

Last week was another record week. This time, it was “The Best Week since 1938.” 

As Ben Carlson points out, these things happen during crashes.

Many of history’s great crashes have exhibited head-fake rallies that offered investors a false sense of hope that proved to be fleeting.

During the Great Depression stock market crash there was a 47% rally from late-1929 until the early Spring of 1930. It didn’t last of course.

Before that rally stocks had fallen 45%. After rising almost 50%, they would go on to fall by more than 80%.

Anything can happen y’all. Don’t get juked.

Here’s the weekly S&P 500 chart. 

S&P 5002,541+10.26%
Russell 20001,131+11.65%
Dow Jones21,636+12.84%
Weekly percent changes 

Stocktwits Sentiment Index: Maybe the Bull Market is Over LOL 

Here’s the updated Stocktwits Social Sentiment Index. We started to see a divergence on Thursday when sentiment ticked lower while the S&P rose 6.24%. We got a lower reading on Friday, maybe the “bull market” is over. lol. Place your bets…

Highest Monthly Close Ever?

Here’s a fun fact from Trendspider

If we hold above 60 on VIX into Tuesday’s close, that will be the highest monthly close ever…

Jamie Catherwood’s Sunday Reads

• Pandemics for the Long-Run

• Politics After Crashes & Crises

• What Happens After A Crash?

• Economic Impact of Black Death

• Securities Regulation Post-Crash

Chart Summit Recordings

If you missed yesterday’s virtual Chart Summit here’s the full recording. 

Part 1

Part 2

Huge shoutout to all those who participated. The event raised over $50,000 to help with COVID-19. Well done! 👏

You can still donate to help fight COVID-19, here’s the link.

A Message from the National Park Service

The Whale, Norway

THE NEW FUTURE OF WORK – Sam Harris Podcast

The Week Ahead

And now a brief and well-organized look ahead at the trading week beginning Monday, March 30, 2020:

Economic Calendar:

3/31 March Consumer Confidence (10:00 AM EST)

4/1 March ISM Manufacturing Index (10:00 AM EST)

4/1 EIA Crude Oil Inventories  (10:30 AM EST)

4/3 March Unemployment Rate (8:30 AM EST)

Here’s the full Economic Calendar provided by Briefing

Earnings Ahead:

Here’s Earnings Whispers’ great visual.

Be sure to know when your stocks are reporting. Here’s the full earnings calendar.