Morning Notes – Thursday July 18, 2019

Directional Bias For The Day: S&P Futures are lower; mostly moving down since 8:00 AM on July 16; up-sloping bearish flag since 9:00 PM The odds are for a down to sideways day – watch for break above 2993.25 for change of fortune Key economic data due: Philly Fed Manufacturing Index ( est. 5.0 ;…

Morning Notes – Wednesday July 17, 2019

Directional Bias For The Day: S&P Futures are little changed; mostly moving sideways since 10:30 PM on Sunday The odds are for a to sideways to down day – watch for break below 3021.75 for change of fortune Key economic data due: Building Permits ( est. 1.30M; prev. 1.29M ) at 8:30 AM Housing Starts…

Morning Notes – Tuesday July 16, 2019

Directional Bias For The Day: S&P Futures are higher; moving sideways since 10:30 PM on Sunday The odds are for a to sideways to an up day – watch for break below 3010.75 for change of fortune Retail Sales may have an impact Key economic data due: Retail Sales ( 0.4% vs. 0.1% est. ;…

Morning Notes – Monday July 15, 2019

Directional Bias For The Day: S&P Futures are higher; moving up since 5:00 AM on July 9 The odds are for an up to sideways day – watch for break below 3010.75 for change of fortune Key economic data due: Empire State Manufacturing Index ( 4.3 vs. 1.6; prev. -08.6) at 8:30 AM Markets Around…

Morning Notes – Friday July 12, 2019

Directional Bias For The Day: S&P Futures are higher; moving sideways to up since 10:00 PM on Wednesday The odds are for an up to sideways day – watch for break below 2991.50 for change of fortune Key economic data due: PPI ( 0.1% vs. 0.1% est.; prev. 0.1%) at 8:30 AM Core PPI (…

Morning Notes – Thursday July 11, 2019

Directional Bias For The Day: S&P Futures are higher; moving sideways since 10:00 PM on Wednesday The odds are for a sideways to up day – watch for break above 3006.75 and break below 2990.50 for clarity Key economic data due: CPI ( est. 0.0%; prev. 0.1%) at 8:30 AM Core CPI ( est. 0.2%;…

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…

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…

Morning Notes – Friday June 21, 2019

Directional Bias For The Day: S&P Futures are lower; moving sideways to down since 8:30 AM on Thursday The odds are for a sideways to down day – watch for break above 2960.00 and break below 2951.75 for clarity Key economic data due: Flash Manufacturing PMI ( 50.1 vs. 50.5 est. ; prev. 50.5) at…