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 lower since 10:30 PM on Wednesday; Futures fallen back in the ascending triangle that it broke above on Wednesday night Odds are for a sideways to an up day – watch for break above 2791.00 and below 2773.75 for clarity Key economic data due: Core Durable Goods (0.1%…
Directional Bias For The Day: S&P Futures are lower; moving sideways since 4:00 PM on Tuesday; Odds are for a sideways to an up day – watch for break above 2782.25 and below 2766.00 for clarity Key economic data due: FOMC meeting minutes at 2:00 PM Sentiment & Catalyst No discernible sentiment moving catalyst Markets Around The World Markets in…
Directional Bias For The Day: S&P Futures are lower; moving down since 4:00 AM; Odds are for a sideways to up day – watch for break above 2771.25 and below 2766.75 for clarity No Key economic data due: Sentiment & Catalyst No discernible sentiment Markets Around The World Markets in the East closed mixed- Shanghai, Tokyo and Sydney closed up; Hong Kong,…
Directional Bias For The Day: S&P Futures are higher; moving up since 2:30 AM; breaking above a descending triangle on 30-minute chart Odds are for an up day – watch for break below 2744.50 for change of fortune Key economic data due: Empire State Manufacturing Index (est. 7.1; prev. 3.9) at 8:30 AM Import Prices (est. -0.1%; prev. -1.0%) at 8:30 AM…
Directional Bias For The Day: S&P Futures are higher; down bias since 3:00 AM; sharp down move since 8:30 AM following Retail Sales data Odds are for a down day – watch for break above 2761.00 for change of fortune Key economic data due: Retail Sales (-1.2% vs. 0.1% est. and 0.1% prev.) at 8:30 AM Core Retail Sales (-1.8%…
Directional Bias For The Day: S&P Futures are higher; moving up since 5:0 AM; Odds are for an up day – watch for break below 2741.50 for change of fortune Key economic data due: CPI (0.0% vs. 0.1% est. and -0.1% prev.) at 8:30 AM Core CPI (0.2% vs. 0.2% est. and 0.2% prev.) at 8:30 AM Sentiment & Catalyst…
Directional Bias For The Day: S&P Futures are higher; moving up since 2:30 PM on Monday; Odds are for an up day – watch for break below 2720.25 for change of fortune Key economic data due: JOTS Jobs Openings (est. 6.84M; prev. 6.89M) at 10:00 AM Sentiment & Catalyst Risk-on sentiment due to potential avoidance of government shutdown Markets Around…
Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 4:00 AM; Odds are for sideways to up day – watch for break below 2711.75 and above 2721.50 for more calrity No key economic data due: Markets Around The World Markets in the East closed mixed – Hong Kong, Seoul and Singapore were up; Sydney and…
Directional Bias For The Day: S&P Futures are lower; moving up since 7:00 AM; emerging descending (or symmetrical)triangle since the NYSE close on Thursday Odds are for a down day – watch for break below 2699.25 for change of fortune No key economic data due: Markets Around The World Markets in the East closed mostly down – Singapore was up; Shanghai was…
Directional Bias For The Day: S&P Futures are lower; moving down since 11:00 AM on Wednesday Odds are for a down day – watch for break above 2725.75 for change of fortune Key economic data due: Unemployment Claims (230K vs. 220K est.; prev. 253K) at 8:30 AM Markets Around The World Markets in the East closed mixed – Tokyo, Mumbai…