Yesterday the S&P 500 closed once again within the range we have been watching, that includes the upside (1993.48) and downside (1903.07) parameters to a test of what we have called ‘Resistance #2’ at 2040 (Resistance #1 was 1975, which SPX is still dealing with on its bounce attempt).
Thanks to subscriber JF for forwarding this tweet from the St. Louis Fed. Per JF, this is in line with TED, LIBOR, credit spreads, etc. Here is the graph from…
20 pages, a little Tin Foil, a lot of historical facts and some logical deductions. NFTRH 359 out now.
Employment growth eased in August. Here is the full report from BLS: Employment Situation - August 2015 Growth continues to cluster in the services, as we have been noting for…
A simple progress report on SPY's bounce. The initial rally today put SPY back above the resistance line roughly equivalent to SPX 1975, which was Resistance #1 to the bounce…
So far the correction is generally going to plan. SPX dropped out of the nose of the Diamond pattern, lost both the 50 and 200 day moving averages and dropped to support. That was all according to plans.
Right in line with the information I got from a former industry colleague back in July, Machine Tool sales data have continued to degrade. Click for a larger view of…
Stock Market Here is the current SPY chart from this morning's pre-market update, on which I had drawn a candle based on the pre-market's projection. SPY opened around that level…
For all you Energy sector sports fans out there, here is XOM near a big picture channel bottom by monthly chart. Unfortunately, Exxon Mobile has already Ex-div'd in August, but…
As usual, the key items are highlighted and the full report can be viewed at ISM. It's another counter-cyclical hiccup for the Good Ship Lollipop. Subscribe to NFTRH Premium for…
China is again in the news as its Caixin manufacturing index hits its lowest reading in 6 years. Dutifully, world markets decline by around 2% on average. Clicking the graphic…