Author Archive: Jeremy Parkinson
Vehicle Miles Traveled: Another Look At Our Evolving Behavior – Wednesday, Nov. 22
The Department of Transportation’s Federal Highway Commission has released the latest report on Traffic Volume Trends, data through September. “Travel on all roads and streets changed by 0.3% (0.8 billion vehicle miles) for September 2017 as compared with September 2016. Travel for the month is estimated to be 262.5 billion vehicle miles.” The less volatile 12-month moving […]
The Market Establishing New All-Time Highs
My Swing Trading Approach Volume should start to dry up today. Surprising to me that there was above average volume yesterday, considering it was a holiday week. I won’t rule out adding an additional position to the portfolio, but right now, I am content with my current crop of trades. I will certainly increase the […]
Commodities Strength Continues
Commodities, particularly oil, continue to be strong. You can see the breakout a few weeks ago from the range DBC was in, and the successful test afterward. More specifically, oil is gaining strength, I suppose with an eye toward next week’s big OPEC meeting/announcements. The yellow area represents a strong base, and I’ve circled where […]
Durable Goods New Orders Decline In October 2017
The headlines say the durable goods new orders declined and backlog shrunk. In addition, the unadjusted three month rolling average declined. Analyst Opinion of the Durable Goods Situation Our analysis is more negative than the headlines as the rolling averages declined. Civilian aircraft and defence spending were the main headwinds this month.This series has wide […]
Hammond Hammers The The Pound With Lower Forecasts
UK Chancellor of the Exchequer Phillip Hammond delivered the budget in the British parliament. He says that the economy is confounding those who talk it down. However, the lower growth forecasts are sending the pound lower, to 1.3225 1.3214. GBP/USD was trading around 1.3250 ahead of the speech, entrenched in the recent range: between 1.3220 to 1.3270. […]
S&P 500 Sector Weightings Report — November 2017
S&P 500 sector weightings are important to monitor. Over the years when weightings have gotten extremely lopsided for one or two sectors, it hasn’t ended well. Below is a table showing S&P 500 sector weightings from the mid-1990s through 2012. In the early 1990s before the Dot Com bubble, the US economy was much more […]
UMich Consumer Confidence Slides In November As Faith In Stocks Falters
Having hit the highest level since Jan 2004 in October, November’s final print shows the University of Michigan Consumer Sentiment index fell from 100.7 to 98.5, as both hope and current conditions slipped. Expewctations for inflation dipped. Consumers saw inflation rate in the next year at 2.5 percent after 2.4 percent the prior month. Inflation rate over next five to 10 […]
Did Market Breadth Confirm The New Highs In Stocks?
Bad Breadth Can Foreshadow Bear Markets Market breadth speaks to the number of stocks participating in an advance. Strong market breadth means a high percentage of stocks are making new highs as the major indexes make new highs. Strong breadth also aligns with widespread confidence in stocks and the economy. Bearish Divergence In 2000 The […]
Deere (DE) Tops Q4 Earnings & Sales, FY’18 View Bullish
Deere & Company (DE – Free Report) , the world’s leading manufacturer of agricultural machinery, reported fourth-quarter fiscal 2017 results, wherein earnings of $1.57 surpassed the Zacks Consensus Estimate of $1.46. Revenue: Deere posted revenues of $7.09 billion, beating the Zacks Consensus Estimate of $6.91 billion. Outlook: Deere projects total equipment sales to increase about 22% year over year in […]
Michigan Consumer Sentiment: November Final Remains Optimistic
The University of Michigan Final Consumer Sentiment for November came in at 98.5, down 2.2 from the October Final reading of 100.7. Investing.com had forecast 98.0. Surveys of Consumers chief economist, Richard Curtin, makes the following comments: Consumer sentiment narrowed its loss from mid-month, although it was still slightly below last month’s decade peak. Overall, the Sentiment […]
