Equities Outperforming Other Asset Classes U.S. Treasury Bonds ($USB) have risen since October 2018 (see Panel 1, Chart 1) after mostly declining from a high of 176.06 in June 2016 to a low of 136.40 in October 2018. It is approaching the high, 157.94, of Q3 2017. On relative basis, $USB is under-performing the equities,…
The large cap indices – S&P 500 and Dow Jones Industrial Average (DJIA) – are in confirmed uptrend along with the tech-heavy NASADAQ Composite. Their all three timeframes – monthly, weekly and daily – are showing varying degree of uptrend and bullish chart formations. The broader market index, Wilshire 5000 Total Market Index, is also…
Trading is a serious and a funny business. On the one hand it requires a tremendous amount of patience, subject knowledge, skills and experience. On the other hand it also requires a good amount of luck although many will say this for the luck part. Similarly there are legions of past, current and wannabe traders who…
Paraphrasing an old adage, the economic expansions do not die of old-age and the current expansion, even though it has become the longest in the U.S history, is in no danger of ending anytime soon. Another old adage is that the stock market is not the economy and the economy is not the stock market,…
Note: The charts and data are as of Friday April 5, 2019. To enlarge please click on charts. International Equities World equities are on an upswing. The S&P 500 stumbled a bit in the early part of 2018 and then again in Q4 too but since then it is rising consistently (see Chart 1) It…
Directional Bias For The Day: S&P Futures are lower; The odds are for a down day – watch for break above 2913.75 for change of fortune Key economic data due: ISM Manufacturing PMI ( 51.2 est.; prev. 51.2 ) at 10:00 AM Construction Spending (0.3% est.; prev. -1.3%) at 10:00 AM ISM Manufacturing Prices (…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day – watch for break below 2934.25 for change of fortune Key economic data due: Personal Spending (0.6% vs. 0.5% est.; prev. 0.3%) at 8:30 AM Core PCE Price Index (0.2% vs. 0.3% est.; prev. 0.2%) at 8:30 AM Personal…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2906.25 for change of fortune Key economic data due: Prelim GDP (2.0% vs. 2.0% est.; prev. 2.1%) at 8:30 AM Goods Trade Balance (-72.3B vs. -74.0B est.; prev. -74.2B) at 8:30…
Directional Bias For The Day: S&P Futures are lower; The odds are for a down day with elevated volatility – watch for break above 2878.00 for change of fortune The 61.8% Fibonacci retracement of the big decline on Friday – from 2936.50 to 2810.25 – is achieved near 2888.00; the 78.6% Fibonacci retracement is near…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2869.25 for change of fortune The 61.8% Fibonacci retracement of the big decline on Friday – from 2936.50 to 2810.25 – is achieved near 2888.00; the 78.6% Fibonacci retracement is near…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2863.50 for change of fortune The 61.8% Fibonacci retracement of the big decline on Friday – from 2936.50 to 2810.25 – is achieved near 2888.00; the 78.6% Fibonacci retracement is near…
Directional Bias For The Day: S&P Futures are higher; The odds are for a sideways too an up day – watch for break below 2918.75 and break above 2929.75 for change of fortune Key economic data due: New Home Sales ( 645K est. ; prev. 646K) at 10:00 AM Fed Chair Powell Speech at 10:00…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up to sideways day – watch for break below 2918.50 for change of fortune Key economic data due: Unemployment Claims ( 217K est. ; prev. 220K) at 8:30 AM Flash Manufacturing PMI ( 50.5 est.; prev. 50.4) at 9:45 AM Flash…
Directional Bias For The Day: S&P Futures are higher; The odds are for an up day with elevated volatility – watch for break below 2861.50 for change of fortune Key economic data due: Building Permits ( 1.34 M vs. 1.27M est. ; prev. 1.23M ) at 8:30 AM Housing Starts ( 1.19M vs. 1.26M est.…
Directional Bias For The Day: S&P Futures are higher; The odds are for a highly volatile and choppy day Key economic data due: Retail Sales (0.7% vs. 0.3% est.; prev. 0.4%) at 8:30 AM Core Retail Sales (1.0% vs. 0.4% est.; prev. 0.4%) at 8:30 AM Philly Fed Manufacturing Index (16.8 vs. 10.1 est.; prev.…