FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

15Oct2015 Market Update: Averages Remain In The Green, Halfhearted Attempt To Push Higher In Progress, Watch For Volatility Moves

Written by Gary

Averages have sea-sawed in an exaggerated horizontal trading zone during the morning session highlighting investors unsure positions. Volatility is sure to upset and already upset market. Short-term indicators are mildly bearish and market session highs are expected to remain where they are now, absent of HFT manipulations later today.

Here is the current market situation from CNN Money

North and South American markets are mixed. The S&P 500 is higher by 0.81%, while the IPC is leading the Bovespa lower. They are down 0.48% and 0.10% respectively.

Cushing crude oil inventory is twice as high as analysts expected and WTI price is trending up. Consumer price index is up and the U.S. dollar spike up and is now trending down. What is really going on?

Traders Corner - Health of the Market

Index Description Current Value Members Sentiment: % Bullish (the balance is Bearish) 67%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 38%
Investors Intelligence sets the breath Above 50 bullish 40.1% Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. 28.47 NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 28.93% NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 45.61% S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 50.80% 10 Year Treasury Note Yield Index ($TNX) ten year note index value.

The yield on the 10-year U.S. government debt fell below the 2% mark again and settled at a five-month low on Wednesday as fresh signs of tepid consumer spending and low inflation boosted demand for haven assets.

20.19 Consumer Discretionary ETF (XLY) As long as the consumer discretionary holds above [66.88], all things being equal, it is a good sign for stocks and the U.S. economy 77.15 NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,292

What Is Moving the Markets

Here are the headlines moving the markets.

Dudley downplays Fed divisions, says policymakers on same page

WASHINGTON (Reuters) - U.S. Federal Reserve policymakers are not as divided as it may appear and are generally operating under the same framework for determining when to raise interest rates, New York Fed President William Dudley said on Thursday.

Goldman profit plunges as market turmoil hits bond trading

(Reuters) - Goldman Sachs Group Inc's profit plunged for the second straight quarter as bond trading revenue fell by a third amid market turmoil stemming from concerns about global growth.

Gasoline weighs on U.S. consumer prices, but inflation set to rise

WASHINGTON (Reuters) - U.S. consumer prices recorded their biggest drop in eight months in September as the cost of gasoline fell, but a steady pick-up in the prices of other goods and services suggested inflation was poised to rise.

Lockheed to cut 250 jobs in missile, fire control business

WASHINGTON (Reuters) - Lockheed Martin Corp on Thursday said it plans to cut 250 jobs in its Missiles and Fire Control business by late November as part of an overall "belt tightening" drive.

Wall Street bonuses likely to plunge as trading revenue drops

NEW YORK (Reuters) - Wall Street bankers and traders are likely to get smaller bonuses this year as trading revenue plunges.

Wall St. higher as investors digest results, data

(Reuters) - Wall Street was higher on Thursday, boosted by a strong recovery in financial stocks after better-than-expected results from Citigroup and largely positive U.S. economic data.

Charles Schwab profit up 17 percent in third quarter

NEW YORK (Reuters) - Charles Schwab Corp, the discount brokerage pioneer that is expanding into fee-based advisory accounts, said on Thursday that third-quarter profit jumped 17 percent on higher trading commissions and interest revenue.

Ignore The Media Bullsh!t - Retail Implosion Proves We Are In Recession

Submitted by Jim Quinn via The Burning Platform blog,

Here we go again. The dying legacy media will continue to support the status quo, who provide their dwindling advertising revenue, by papering over the truth with platitudes, lies, and misinformation. I have been detailing the long slow death of retail in America for the last few years. The data and facts are unequivocal. Therefore, the establishment and their media mouthpieces need to suppress the truth.

They spin every terrible report in the most positive way possible. They blame lousy retail results on the weather. They blame them on calendar effects. They blame them on gasoline sales plunging. That one is funny, because we heard for months that retail spending would surge because people had more money in their pockets from the huge decline in gasoline prices.

September retail sales were grudgingly reported by the Census Bureau yesterday morning and they were absolutely dreadful. This followed an atrocious August report. The MSM couldn't blame it on snow, cold, flooding, drought, or even swarms of locusts. So they just buried the story in their small print headlines. The propaganda media machine had nothing. They continue to spew the drivel about a 5.1% unemployment rate as a reflection of a booming jobs market. If we really have a booming jobs market, we would have a booming retail sector. The stagnant retail market reveals the jobs data to be fraudulent. The 94 million people supposedly not in the job market can't buy shit with their good looks.< ...

Groundhog Day: "I Woke Up This Morning After Horrible Economic News And First Question Was How Much Are Stocks Up"

Any carbon-based trader "trading" today will surely agree with every word Bloomberg's Richard Breslow, a former FX trader and fund manager, said in his note this morning.

Fight the Real Dragon

The economic numbers released yesterday can best be described with a reference to wheels falling off the bus. And it wasn’t just retail sales and PPI in the U.S. but numbers from around the world, including China. So, of course, when I woke up this morning the obvious first question to ask was, how much are equities up? It remains a reality for trading that the biggest news overnight wasn’t the Bank of Korea rate decision nor the continued deterioration of East West relations but an article written by Jon Hilsenrath in the WSJ on the rapidly diminishing likelihood of a Fed hike in 2015.

Fed Funds futures have been consistently ahead of economists and Fed speak in doubting a rate hike. Comments by Richmond Fed’s Lacker yesterday that he doesn’t know if the Fed will raise rates in October didn’t even merit a rolling of the eyes. Futures are pricing in a 4% chance for October rather than zero, just to be polite. Governors Brainard and Tarullo joining the “conditions don’t merit a rate rise at this time†camp sounded positively statesmanlike.

Last night’s article matters because the Fed’s credibility has taken a hit from interminable public bickering. A number of investors have expressed the fear that a December move might be decided to fix the damage rather than on the merits. Rightly or wrongly, it is assumed that this piece was written with the benefit of some “on background†discussions.

Goosing risk may look good on paper and buy time. But it, quite apparently, has had diminishing effect on the real economy. Central banks need to spend more time publicly arguing the necessity for fiscal policy makers to do their part and not add t ...

Dudley Spooks Stocks With 'We Don't Need "Actual Inflation" To Hike' Comments

The Fed's Bill Dudley is out on the speaking-circuit today and dropped some clangers during the Q&A. Initially proclaiming that monetary policy should be independent from politics he then admitted that "The Fed can't be completely walled off from politics." Then he spooked stocks with his comment that "actual inflation is not needed for confidence on the 2% goal," or roughly translated - we'll hike no matter what the data says...





However, what likely sent stocks most lower was the promise that The Fed rate-path will be shaped partly by the market reaction... i.e. the lower stocks go the easier The Fed will be and if stocks rally, The Fed will tighten more.

How To Massively Outperform The Market In Just 10 Minutes An Hour

Forget 6-Second-Abs. In just two 5-minute periods per hour, you too can become a billionaire guru "investing" expert, laud over your peers, and demand respect from every business media anchor. The trick is in our patent-pending "know when to buy 'em and sell 'em" timing model...

It's simple...

Buy stocks at 40 minutes past the hour (and sell 5 minutes later), and

Short stocks at 50 minutes past the hour (buying back 5 minutes later)...

And 50 percentage points of performance with no overnight risk (and no $29.95 per month fees)

Of course, prior performance is no reflection of future expected performance but when did that ever matter for the average dip-buying muppet?

Source: @NanexLLC

U.S. Stocks Climb as Investors See No Fed Rate Rise

U.S. stocks advanced Thursday following signs that recent lackluster economic data reduced the odds of a rate increase by the Federal Reserve this year.

Fed Doubts Grow on 2015 Rate Increase

The chances of a Federal Reserve interest-rate increase in 2015 are diminishing amid new signs of anemic economic activity, a disappointing development for central bank officials who have been hoping to move this year after a prolonged period of easy-money policies.

Oil Bears Buck Market Sentiment

Markets have grown more bullish about the prospects for oil, believing production cuts will firm up prices. But some investors are skeptical, believing oil stocks will grow and demand contract for months to come.

October 2015 Philly Fed Manufacturing Remains in Contraction.

Written by Steven Hansen

The Philly Fed Business Outlook Survey remains in contraction. Key elements are likewise in contraction.

Capitol Report: Social Security benefits would have got cost-of-living boost if elderly inflation was used

Social Security recipients are going to get no cost-of-living adjustment next year. But if the determination was based on the government’s own estimate of what inflation is like for those 62 years and over, there would be a rise in benefits.

MarketWatch First Take: From Wal-Mart to Whole Foods, people are choosing eating out over eating in

When companies from Wal-Mart Stores to Whole Foods are struggling to sell groceries, the chances are more likely changing preferences than management screwups.

Earnings Summary for Today

Earnings Calendar provided by

leading Stock Positions

Leading Stock Quotes powered by

Current Commodity Prices

Commodities are powered by

Current Currency Crosses

The Forex Quotes are powered by

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

Click here for Historical Releases Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Live Market

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved