alice, nftrh

SPX Bounce Targets by Daily and 60 min. Charts

The first bounce has arrived above the 1980 to 2000 support area.  2020 is a former minor resistance area so it too is a minor support area.  While I’d expect the 1980 to 2000 area to be hit before too long, it is bounce on for now. Here is the daily chart to show broken support that ranges from just below to just above 2060 … Continue reading SPX Bounce Targets by Daily and 60 min. Charts

empire manufacturing

Empire Manufacturing Eases Again; Here Are the Particulars

In the worst kept secret in macro economics US manufacturing continues to be pressured under the weight of a strong currency.  The New York Fed’s Empire index declined for the 4th consecutive month, but the details are not as bad as the headline.  Here is the full PDF report. Some particulars from the report… New orders bumped up, as I believe was the case with … Continue reading Empire Manufacturing Eases Again; Here Are the Particulars