HORAN Capital Advisors

Entries for 2016

Stock Buybacks Up Double Digits In First Quarter

 June 26 2016     David Templeton
S&P Dow Jones Indices reports first quarter stock buybacks for the S&P 500 Index were higher by 12% on a year over year basis. On a quarter over quarter basis buybacks were higher by 10.6%. The increase in buyback activity was supported by a quarter over quarter 15.8% increase in as reported earnings. Disappointingly though was the fact QOQ dividend payments declined 3.1%. Additionally, the combin...

BREXIT Inspired Equity Pullback: The World Is Not Coming To An End

 June 25 2016     David Templeton
Much is being written regarding the impact of the United Kingdom's exit from the European Union and all the conclusions lead to uncertainty. It is the uncertainty equity markets do not handle well, thus, the sell off on Friday. One conclusion I believe is certain is the world will not come to an end and business will continue to be conducted between EU and non-EU countries. This is a wakeup call f...

Simply A Technical Review Of The S&P 500 Index

 June 11 2016     David Templeton
Quite a bit of discussion circulated after the market closed on Friday surrounding the S&P 500 Index and the resulting weekly chart candle that formed for the week. As the below candle stick chart clearly shows, a shooting star formed out of the weekly market action. One factor making this formation of interest to technical market traders is it occurrence subsequent to a strong market uptrend and ...

The Consumer Is In Good Financial Shape

 June 4 2016     David Templeton
With the weak nonfarm payroll report on Friday, heightened concern arose about the pace of economic growth or lack thereof. Pundits and market indicators believe a Fed rate increase in June is off the table. A weak payroll report is an indicator of a weakening economy and certainly the trend in nonfarm payrolls has been a declining one. This declining trend has been in place over several months, +...

Is It Right To Be Bullish Near A Record Market High?

 June 2 2016     David Templeton
One outcome that comes from writing periodic content on our blog is we are held accountable for our various points of view whether they are right or wrong. No investor is going to be correct 100% of the time; however, being right more often than wrong enhances ones chance of better returns over the long run. So, as the S&P 500 Index is only 1.2% below its all time record closing high, being bullis...

An Allocation To International Small/Mid Cap Equities

 May 30 2016     David Templeton
One aspect that has faced investors over the past five years is the fact diversification has detracted from a mostly large cap U.S. equity allocation. Investments in high yield bonds and emerging markets generated negative returns, while investments in the NASDAQ and S&P 500 Composites resulted in double digit annualized returns over the most recent five year period.Looking at returns over the pas...

Bullish Investor Sentiment Lower Than Level Reached In 2009

 May 26 2016     David Templeton
The American Association of Individual Investors reported another decline in bullish sentiment this morning. Bullish sentiment was reported at 17.8% and comes in below the level reached at the depths of the financial crisis in 2009. The lowest reading in 2009 was 18.9% and occurred in early March of that year. A number of market technical indicators have turned positive as we noted in a few posts ...

Dow Jones Industrial Average Celebrates Its 120th Year

 May 25 2016     David Templeton
On May 26th the Dow Jones Industrial Average (DJIA) will celebrate its 120th year. In honor of this feat, S&P Dow Jones Indices published a white paper containing a number of facts and figures around the Index.  For example, the best trading day of the week for the DJIA is actually Saturday so maybe we should bring back Saturday trading. From 1887 to 1952 stocks were traded on the NYSE from 10:00a...

Bulls Attempting To Take Control On Positive Technicals

 May 24 2016     David Templeton
The market is in a seasonally weak period, i.e., all the sell in May mantra, and this has created a number of bearish technical setups for the S&P 500 Index. I am not showing all of them; however, the bulls are making an effort to kill off the head and shoulder top pattern (dashed lines). This market action is creating two potential bull flag breakouts. The breakout is also resulting in the S&P 50...

A Mismatch Between Investor Sentiment And Allocation Surveys

 May 21 2016     David Templeton
On a monthly basis the American Association of Individual Investors surveys its members on the asset allocation of their members investment holdings. In the April survey, on average, its members noted their equity exposure equaled about 64%, above the average of 60%. The bond allocation was equal to the long term average, while cash came in below average. What is interesting about these stated all...
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