U.S. Major Indices: July 2019

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…

Morning Notes – Wednesday July 10, 2019

Directional Bias For The Day: S&P Futures are lower; moving lower since 8:30 PM on Tuesday The odds are for a sideways to up day – watch for break above 2987.50 and break below 2971.25 for clarity Key economic data due: Final Wholesale Inventory ( est. 0.4%; prev. 0.4%) at 10:00 AM Fed Chair’s Humphrey-Hawkins…

How Well Is The U.S. Economy Doing?

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,…

Morning Notes – Tuesday July 9, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways since 11:30 PM on Monday The odds are for a sideways to down day – watch for break above 2979.75 and break below 2963.50 for clarity Key economic data due: JOLTS Jobs Openings (est. 7.51M; prev. 7.45M) at 10:00 AM IBD/TIPP Economic Optimism (…

The Poppy War

In the early 21st century many Western countries are talking and negotiating with China for new or improved trade deals. U.S. and China are going at each other for the better part of last two years armed with weaponized tariffs and rare earth mining. Canada is exploring a free trade agreement with China. The hopes…