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 higher since 4:00 AM from 2711.50 Odds are for an up day with elevated volatility – watch for break above 2726.75 for change of fortune Key economic data due: CPI (0.3% vs. 0.3% est. and 0.1% prev. ) at 8:30 AM Core CPI (0.25% vs. 0.2% est. and 0.1% prev.) at 8:30…
Directional Bias For The Day: S&P Futures are lower; moving lower since 11:30 PM on Thursday and broke below day’s low of 2795 at 3:30 AM; bouncing off the lows near 2789.00 and back to the congestion zone around 2795.00 Odds are for a down day – watch for break above 2799.75 for change of fortune Key economic data due:…
Directional Bias For The Day: S&P Futures are higher; moved lower from as high of 2787.00 at 5:00 AM Odds are for an up day with elevated volatility – watch for break below 2772.00 for change of fortune Key economic data due: Consumer Credit (est. 15.7B, prev. 20.1B) at 3:00 PM Markets Around The World Markets in the East closed mostly higher – Shanghai,…
Directional Bias For The Day: S&P Futures are lower; moving sideways to lower since 2:00 Pm on Monday Made a double top on 30-minute chart; broke below the intermediate low; 200% extension target near 2730 is achieved Odds are for a sideways day with choppiness and elevated volatility – watch for break above 2738.50 and break below 2729.75 for clarity No Key…
Directional Bias For The Day: S&P Futures are lower; moving sideways since 2:00 PM on Friday Odds are for a sideways to an up day with choppiness and elevated volatility – watch for break above 2729.50 and below 2714.00 for clarity Key economic data due: ISM Non-Manufacturing PMI (60.3 vs. 59.3 est. and 61.6 prev. ) at 10:00 AM Markets Around…
Directional Bias For The Day: S&P Futures are higher; moving lower since 7:45 after breaking above 2:15 AM high of 2764.00 by a tick; broken below the intermediate low of 2753.75 Potential double top pattern on 15-minute chart; 61.8% extension target is near 2747.50 and the 100% extension target is near 2743.50 Odds are for an up day with good chance…
Directional Bias For The Day: S&P Futures are higher; moving lower since 7:30 AM; mostly moving up in an up-sloping channel since 3:45 PM on October 31 Odds are for an up to sideways day with choppiness and elevated volatility – watch for break above 2727.25 and break below 2707.25 for more clarity Key economic data due: Prelim Nonfarm Productivity (2.2%…
Directional Bias For The Day: S&P Futures are higher; moving higher since 1:30 PM on October 30 Odds are for an up and choppy day with elevated volatility – watch for break below 2696.25 for change of fortune Key economic data due: ADP Non-Farm Employment Change (27K vs. 188K est.) at 8:15 AM Employment Cost Index (0.8% vs. 0.7%…
Directional Bias For The Day: S&P Futures are lower; moving lower since 8:00 AM after rising from 3:30 PM on October 29 Odds are for a down and choppy day with elevated volatility Key economic data due: S&P/Case-Shiller Composite-20 HPI (5.5% vs. 6.0% est.) at 9:00 AM CB Consumer Confidence (est. 136.3) at 10:00 AM Markets Around The World…
Directional Bias For The Day: S&P Futures are higher; moving higher since 2:30 AM Odds are for an up and choppy day; elevated volatility Key economic data due: Core PCE Price Index (0.2% vs. 0.1% est.) at 8:30 AM Personal Spending (0.4% vs. 0,.4% est.) at 8:30 AM Personal Income (0.2% vs. 0.4% est.) at 8:30 AM Markets Around…