Turmoil In the Equity Markets The second week of the Q4 of 2018 saw the biggest decline for S&P 500 since the week of March 23, 2018 (see Fig. 1). What is more concerning is that 14-week RSI made a bearish divergence during the week of September 17, when the index made a new all time high. In…
What To Expect at Next Week’s Fed Meeting This coming week the Federal Reserve is going to conduct the Federal Open Market Committee (FOMC) meeting, its sixth of the year, over a two-day period, followed by a press conference at 2:00 PM on Wednesday September 26th. This will be the third meeting of the year with a press-conference.…
August Housing Starts Better Than Estimated The Housing Starts for August, at a seasonally adjusted annual rate, came at 1, 282,000 units, which is +9.2% above July’s revised rate of 1,174,00 units and better than what the market was expecting, which was 1.24 Million units. The single family units starts increased by +1.9% in August…
The US Economy Is Doing Great The US economy is strong and the major indicators gauging its health are trending higher. Fig. 1 shows that the five major economic indicators – Total Nonfarm Payrolls, Industrial Production, Retail Sales, Disposal Personal Income and the Per Capita GDP – indexed to just before the start of 2001 recession are…
Monthly Chart Indicates Pause in Uptrend For the month of August 2018, the dollar index made a shooting star pattern (see Fig 1). The shooting star is a bearish reversal pattern that occurs after a rally. The index has been rising since making a low of 88.15 on February 16, 2018. So even though the…
Directional Bias For The Day: S&P Futures are higher; moving mostly sideways since 3:30 PM on Tuesday Daily and weekly trends are down Odds are for an up day with elevated volatility – watch for break below 2602.50 for change of fortunes Key economic data due: Import Prices (est. -1.3%; -1.% prev.) at 8:30 AM NAHB Housing Market Index (est. 56; 56 prev. ) at 10:00 AM Markets Around The World…
Directional Bias For The Day: S&P Futures are little changed; moving down since 0:30 AM after rising by nearly 20 points Daily and weekly trends are down Odds are for a sideways to down day with elevated volatility – watch for break above 2591.75 and break below 2577.00 for more clarity Key economic data due: PPI (est. -0.1%; 0.1% prev.) at 8:30 AM Core PPI (est. 0.2%; 0.31% prev.)…
Directional Bias For The Day: S&P Futures are lower; moving sideways since 9:00 PM n Sunday Daily and weekly trends are down Odds are for a sideways to down day with elevated volatility (sideways from pre-NYSE open level and down from last close) – watch for break above 2578.25 and break below 2567.25 for more clarity No key economic data due Markets Around The World Markets…
Directional Bias For The Day: S&P Futures are lower; moving down since 4:30 AM Daily and weekly trends are down Odds are for a down day with elevated volatility – watch for break above 2590.75 for change of fortune Key economic data due: CPI ( -0.1% vs. -0.1% est.; 0.0% prev.) at 8:30 AM Core CPI ( 0.2% vs. 0.2% est.; 0.2% prev.) at 8:30 AM Markets Around The…
Directional Bias For The Day: S&P Futures are lower; moving sideways since 8:30 PM on Wednesday Daily and weekly trends are down Odds are for a sideways to down day (from pre-open level) with elevated volatility – watch for break above 2574.25 and break below 2565.25 for clarity Key economic data due: Unemployment Claims (216K vs. 226k est.; 233K prev.) at 8:30 AM Markets Around The World…
Directional Bias For The Day: S&P Futures are higher; moving sideways since 8:00 PM on Tuesday Horizontal channel emerging on 30-minute timeframe – high 2587.25 and low 2575.00 Daily and weekly trend is down Odds are for a sideways to down day (from pre-open level) with elevated volatility – watch for break above 2587.25 and break below 2575.00 for clarity Key economic data due: FOMC December…
Directional Bias For The Day: S&P Futures are higher; moving up since 2:45 PM on Monday Daily and weekly trend is down Odds are for an up day with elevated volatility – watch for break below 2553.75 for change of fortune; No Key economic data due: Markets Around The World Markets in the East mostly closed higher – Shanghai and Seoul closed down…
Directional Bias For The Day: S&P Futures are higher to little changed; moving lower since 7:30 PM on Sunday high of 2551.75, which was 20.50 pointes above Friday’s close Daily and weekly trend is down Odds are for a sideways to down up day with choppiness and elevated volatility – watch for break above 2535.50 for change of fortune; Key economic data…
Directional Bias For The Day: S&P Futures are higher; moving higher since 7:30 PM on Thursday; Daily and weekly trend is down Odds are for an up day with choppiness and elevated volatility – watch for break below 2470.75 for change of fortune; Key economic data due: Non-Farm Employment Change (312K vs. 179K; 155K Prev.) at 8:30 AM Average Hourly…
Directional Bias For The Day: S&P Futures are higher; moving higher since 4:30 PM on Tuesday; Daily and weekly trend is down but futures are ripe for a bounce Odds are for an up day with choppiness and elevated volatility – watch for break below 2545.50 for change of fortune; Key economic data due: Existing Home Sales ( est. 5.20M…