Wax On (US Jobs), Wax Off (China Trade Data)
Friday’s and Today’s global markets give a clear picture of cyclical (stock markets) vs. counter-cyclical (gold).
Friday was US ‘jobs’ at +257,000, above expectations. The stock market was positive for much of the day until it reversed. Gold got hammered.
How to promo... how to promo? NFTRH 329 took a hard look at the realities of what happened last week and despite an end of week reversal (below SPX key…
US Stock Market
After being out for much of the day I returned to the same old, same old. i.e., a market whipsaw. This time around the upside parameters are at issue, whereas on Monday it was the bears getting whipsawed.
Full report at BLS website.
The Non-Farm Payrolls report comes out at 8:30 US Eastern time. It’s a tough call on what the market wants to see. The market is as capable of celebrating a bad number (Fed on hold!) as it is a good one (economy is still humming!).
I have been awaiting the December Machine Tool sales data from EDA, assuming we'd get another year-end ramp up (especially with IMTS this past September), like clockwork. Well, the clock…
The predictable bounce has come up to just below the predictable resistance parameter. Just for fun, here is a 30 minute chart of SPX. Click to expand. 2065 is the…
Usually on Wednesday mornings we do a standard ETF update. But given the interesting things happening across several markets, this morning I thought I’d do a freer flowing update.
This is very similar to a previous update that worked out well shorting SPY. The parameters to short are very similar, the current level up to 206. A rise above…
Isn't it interesting that one of the few sectors in an unbroken bullish uptrend, the Biotechs, are down hard today as the stock market gets the relief bounce (a bear…
The potential bear trap and bounce noted in yesterday's update is following through today and now it is time to set its parameters. To keep things simple, let's use a…
Respondents' comments are more positive than the actual data. The west coast port shutdown seems to be a wild card effect here. I have highlighted the items that are notable.…
I am using Intel (INTC) as an example because it is an NFTRH+ item that has still not reached its target of 40+. That target is in doubt with the…
We have been expecting a correction in the USD to come about sooner or later. With crude oil up again today I wanted to give you a view of the…