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 lower; moving higher since 4:30 AM Odds are for a down day with choppiness and elevated volatility – watch for break above 2631.00 for change of fortune Key economic data due: Core Retail Sales (0.2% vs. 0.2% est. and 1.0% prev.) at 8:30 AM Retail Sales (0.2% vs. 0.1% est. and 1.1% prev.) at 8:30 AM Markets Around The World…
Directional Bias For The Day: S&P Futures are higher; moving sideways to down up since 4:00 PM on Wednesday Odds are for a sideways to down day with choppiness and elevated volatility – watch for break above 2661.00 and break below 2648.00 for clarity Key economic data due: Unemployment Claims (206K vs. 226K est. and 233K prev.) at 8:30 AM Import Prices (-1.6%…
Directional Bias For The Day: S&P Futures are higher; moving up since 3:00 AM Odds are for an up day with choppiness and elevated volatility Key economic data due: CPI (0.0% vs. 0.0% est. and 0.0% prev.) at 8:30 AM Core CPI (0.2% vs. 0.2% est. and 0.2% prev.) at 8:30 AM Markets Around The World Markets in the…
Directional Bias For The Day: S&P Futures are higher; moving up since 3:30 AM Odds are for an up day with choppiness and elevated volatility Key economic data due: PPI (0.1% vs. 0.0% est. and 0.6% prev.) at 8:30 AM Core PPI (0.3% vs. 0.1 est. and 0.5% prev.) at 8:30 AM Markets Around The World Markets in the…
Directional Bias For The Day: S&P Futures are unchanged to lower; drifting mostly up since 6:45 PM on Sunday after gap down open for the week Odds are for a down day with choppiness and elevated volatility No key economic data due: Markets Around The World Markets in the East closed lower European markets are mostly lower – U.K. is higher Currencies: Up…
Directional Bias For The Day: S&P Futures are lower to unchanged; drifting mostly up since 3:00 AM Odds are for an up day with choppiness and elevated volatility Key economic data due: Non-Farm Employment Change (155K; 198K est.; 237K prev.) at 8:30 AM Unemployment Rate (3.7%; 3.7% est.; 3.7% prev. ) at 8:30 AM Average Hourly Earnings (0.2%; 0.3% est.; 0.1%…
Directional Bias For The Day: S&P Futures are lower; drifting up since 5:00 AM Odds are for a down day with increased choppiness and elevated volatility Key economic data due: Unemployment Claims (231K vs. 226K est. and 235K prev.) at 8:30 AM Revised Unit Labor Costs (0.1% vs. 1.1% est. and 1.2% prev.) at 8:30 AM ISM Non-Manufacturing…
Directional Bias For The Day: S&P Futures are higher; drifting down since 3:30 AM and lower by 15 points from the high of 2814.00; Odds are for an up day with high probability of moving sideways from the pre-open session – watch for break above 2801.00 and break below 2793.00 for clarity Key economic data due: ISM Manufacturing PMI (est.…
Directional Bias For The Day: S&P Futures are lower; drifting down since 3:00 PM on Thursday after making bearish RSI divergences on 30-minute and 120-minute timeframes Odds are for a down day – watch for break above 2740.75 for change of fortune Key economic data due: G20 Meeting Markets Around The World Markets in the East closed mostly lower – Sydney and Seoul were…
Directional Bias For The Day: S&P Futures are lower; drifting down since NYSE session lose on Wednesday Odds are for a sideways to down day – watch for break above 2744.00 for change of fortune Key economic data due: Core PCE Price Index (0.1% vs. 0.2% est. and 0.2% prev.) at 8:30 AM Personal Spending (0.6% vs. 0.4% est. and 0.2% prev.) at…