A snapshot of current daily technicals…
GLD held last week’s ‘tentative’ key support and now it is just plain KEY support. Next resistance level is just over head.
“Thanks Gary. I appreciate your promptness and will re-subscribe shortly [ed: 'WR' requested a change from monthly to annual]. Also, I should tell you, I find your site refreshingly different…
First let’s update the charts we showed yesterday, with the short-term support parameters.
SPX is below the tolerance point, but this is in-day. The headline indexes are getting the biggest hit.
Here is the state of the US Yield Curve during a pre-open with deflation in the air and global markets upset. The curve is rising this morning as yields drop. …
The metals and gold stock sector have reversed upward and unfortunately I don’t have time to check to see what – if anything, news-wise – might be behind it. I have a commitment shortly.
Last week we reviewed some degrading indicators giving warnings on the US stock market in an update. The market went on to be okay. This weekend NFTRH 320 had caution signals aplenty, especially in the sentiment segment. And all along we have had the fading junk-quality bond spreads as a negative divergence.
Today the 10, 5 & 2 is dropping again as yields on the long end decline and the short end rises. Below is the state of the 10 vs. 2…
NFTRH 320 deals in some 'normal' subject matter (global currency exchange implications), talks about how 'normal' economists view jobs, demand and prices as pertains to inflation and how good stocks…
And I don't mean in stocks, although a possible ramp job (ref. Semi and Bio momentum) has been part of the plan there as well. NFTRH first introduced the Machine…
You may have noticed old friend SIMO back in the Roth IRA per NFTRH 319. That was me in essence jumping the gun just a bit on its chart. Silicon…
In light of the dynamics in play in the interest rate market, one might want to watch a sector that favors rising interest rates (the Banks, given ZIRP at the Fed’s discount window) vs. rising yields out along the curve. Even though the curve is dropping, if we assume that banks are funded near 0% their lending out across the curve would have a profit motive.
As surmised in the subscriber update posted just after the 'Jobs' report, jitters about interest rate hikes are bubbling to the surface in the T bond market. This may also…
We began the week with an update that noted the week’s economic calendar and in particular, the ISM (which came in at a still-strong 58.7% PMI) and today’s November Employment report (+321,000). Some economy watchers had expected a catch up move in November after a weaker than expected October and that is exactly what we got.
Amidst the din of every pitch man with an opinion on the markets (and these days everybody's a genius with an opinion) the big picture barometer to global economic contraction…