Housing Crash?: U.S. Existing Home Sales Fall By The Most In Six Years
We just got more evidence that a major economic slowdown is underway here in the United States. Existing home sales were down a whopping 7.1 percent during the month of February, and this represented the biggest decline that we have seen in six years. This is yet another sign that we are in the early stages of a […]
Monthly Macro With Mish Shedlock
Mish Shedlock lays out some of the Key Macro Messages in his extensive writings over the last month. US Economy: Concerning Signals Concerns with what Industrial Production, Consumer Spending and Inventories to Sales are telling us, FOMC Meeting signals fewer and slower number of rate increases, The End of the Obamacare Lift for Employment, US Primaries […]
Today’s Trading Plan: Digesting Terrorism
Technical Outlook: SPX managed to bounce once again off of the 5-day moving average for a fifth straight day. The theme in the market of late is not how much it is going up each day but how much it manages to recover off of the lows of the day. SPY volume marked the lowest […]
Is The U.S. Stock Market At A Crossroads?
The S&P 500 has been rallying in recent weeks, recovering all of the ground it lost in January and February. The sharp rebound has been impressive, inspiring optimists to claim that the old bull market has been revived and upside momentum is once again in the driver’s seat. Perhaps, but the true test awaits. Hanging […]
IMF Politely Asks China To Explain Exactly How Large Its FX Forwards Book Is
On the heels of China’s move to devalue the yuan on August 11, the market’s attention abruptly shifted to something we’d been discussing for quite some time. Namely, China’s rapidly depleting FX reserves. The problem for China was that they wanted to devalue, but they wanted to do it on their terms and that’s not […]
How To Profit On The $200 Billion Immunotherapy Market
Cancer is of course one of the most challenging pathologies patients and doctors can face; the disease cells are fiendishly adaptive as the body tries to fight them off, making them stronger. Until very recently, medicine’s best shot at fighting cancer was to bombard the patient with harsh, poisonous chemicals or radiation in the hope […]
Brussels Bombings Raise Brexit Risks
Two explosions at the Brussels Airport and another at the Maalbeck metro station in the Belgian capital left at least 13 dead and dozens injured. The events also triggered flight diversions, a shutdown of the metro and a high state of alert. The depressing events also took their toll on markets, with a general risk off sentiment benefiting […]
S&P 500 And Nasdaq 100 Forecast – March 22, 2016
S&P 500 The S&P 500 initially fell during the course of the session on Monday, but found enough support at the 2040 level to turn things back around to form a massive hammer. The hammer of course is a fairly strong sign, especially considering that it is at the top of a long uptrend. There […]
DAX 30: Will The German Data Ruffle The Trend?
The DAX 30 has an underlying bullish trend since mid-February and as long as it trades above the March 10 low of 9397 it may drift higher. The January 13 high of 10,166 is resistance and this is followed by the January 5 high of 10,395. These two levels are potential targets for the bullish trend. As the trend is bullish, a short-term decline, […]
Terrorist Strike In Brussels Causes Market Angst
A series of attacks at Brussels airport and metro casts a pall over the market. The attacks come as Europe prepares what for many will be a long holiday weekend. Gold, the dollar and yen seem to have been the beneficiaries. Bonds are generally firmer and equities lower. However, in late morning activity in London, […]
