The hangover from yesterday’s Fed announcement and news conference was a dud. The FOMC is seeing its Keynesian experiments possibly fail as we’re now in the stretch run of the experiment which is the exit to interest rate normalization.
Even though the FOMC did nothing Thursday, bulls either are having a hissy-fit about future policy normalization or bears are convinced Yellen & Company has lost their collective credibility.
After Thursday’s “sell the news” price drop, Friday saw much more selling as quadwitching elevated action into the negative close.
As markets tried and failed to put three positive days together it only means charts from a technical perspective get messy destroying would be trends. However, we believe since markets closed August with a break of the monthly 12 period Moving Averages generally this means the 7 year rally is over.
The ownership of this 7 year market action exclusively lies with Fed experiments.
There’s little to add, the markets doing all the talking.Let’s see what happens.
There wasn’t much news this day beyond another decline in Leading Indicators which dropped to 0.1% vs 0.2% expected.
Markets opened weak and stayed there throughout the trading day staying near their lows.
Market sectors moving higher included: Volatility (VIX), Treasury Bonds (TLT), Gold (GLD), Gold Stocks (GDX), Silver (SLV) and the Dollar (UUP).
Market sectors moving lower included: Everything else.
The top ETF daily market movers by percentage change in volume whether rising or falling is available daily.
Volume was heavy once again on more distribution and breadth per the WSJ was negative while Money Flow basically reversed the prior week’s gains.
Charts of the Day
Major U.S. Markets (7)
U.S. Market Sectors & ETFs (12)
Bonds (2)
Commodity & Currency ETFs (8)
International & Emerging Market ETFs (7)
$NYMO (1)
$NYSI (1)
$VIX (1)
U.S. Market Sectors & ETFs (12)
Bonds (2)
Commodity & Currency ETFs (8)
International & Emerging Market ETFs (7)
$NYMO (1)
$NYSI (1)
$VIX (1)
-
SPY 5 MINUTE
-
SPX DAILY
-
SPX WEEKLY
-
INDU DAILY
-
INDU WEEKLY
-
RUT WEEKLY
-
NDX WEEKLY
-
AAPL WEEKLY
-
XLB WEEKLY
-
XLE WEEKLY
-
XLF WEEKLY
-
XLI WEEKLY
-
XLP WEEKLY
-
XLY WEEKLY
-
XRT WEEKLY
-
IYT WEEKLY
-
XLU WEEKLY
-
IYR WEEKLY
-
ITB WEEKLY
-
HYG WEEKLY
-
TLT WEEKLY
-
UUP WEEKLY
-
FXE WEEKLY
-
GLD MONTHLY
-
GDX MONTHLY
-
SLV MONTHLY
-
DBB MONTHLY
-
USO MONTHLY
-
DBB MONTHLY
-
EFA WEEKLY
-
IEV WEEKLY
-
EEM WEEKLY
-
EWZ MONTHLY
-
RSX WEEKLY
-
EPI WEEKLY
-
FXI WEEKLY
-
NYMO DAILY
The NYMO is a market breadth indicator that is based on the difference between the number of advancing and declining issues on the NYSE. When readings are +60/-60 markets are extended short-term.
-
NYSI DAILY
The McClellan Summation Index is a long-term version of the McClellan Oscillator. It is a market breadth indicator, and interpretation is similar to that of the McClellan Oscillator, except that it is more suited to major trends. I believe readings of +1000/-1000 reveal markets as much extended.
-
VIX WEEKLY
The VIX is a widely used measure of market risk and is often referred to as the "investor fear gauge". Our own interpretation is highlighted in the chart above. The VIX measures the level of put option activity over a 30-day period. Greater buying of put options (protection) causes the index to rise.
0 comments:
Publicar un comentario