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29Oct2015 Market Update: Markets Down, Investors Waiting For More Bad News, More Volatility Expected

Written by Gary

Markets are down since the opening bell, but have recovered some losses from morning lows. Volatility remains moderately high and investors can expect more this afternoon. Short-term session indicators have been difficult to play as they are swinging back and forth but remaining near the neutral line. US dollar steady, WTI oil prices trending down along with gold as we begin the afternoon session.

Here is the current market situation from CNN Money

Traders Corner - Health of the Market

Index Description Current Value Members Sentiment: % Bullish (the balance is Bearish) 70%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 71%
Investors Intelligence sets the breath Above 50 bullish 46.0% Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. 18.97 NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 38.45% NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 52.80% S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 68.00% 10 Year Treasury Note Yield Index ($TNX) ten year note index value 21.56 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 80.48 NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,503

What Is Moving the Markets

Here are the headlines moving the markets.

Boeing books five new 787-9 orders from Qantas

SEATTLE (Reuters) - Boeing Co said on Thursday it booked firm orders for five 787-9 Dreamliners from Qantas Airways Ltd, a $1.3 billion deal at list prices.

Pfizer, Allergan say in talks on merger

(Reuters) - Botox maker Allergan Plc and Pfizer Inc on Thursday confirmed they were in preliminary, friendly talks on a potential merger, a deal that would create the world's largest drugmaker.

Time Warner Cable, Charter expect deal closing in first quarter 2016, not 2015

(Reuters) - Charter Communications Inc said its acquisition of Time Warner Cable Inc , which is awaiting clearance from U.S. regulators, is now expected to close in the first quarter of 2016, and not by the end of 2015 as planned.

Inventories hurt U.S. third-quarter GDP, domestic demand strong

WASHINGTON (Reuters) - U.S. economic growth braked sharply in the third quarter as businesses cut back on restocking warehouses to work off an inventory glut, but solid domestic demand could encourage the Federal Reserve to raise interest rates in December.

Wall St. slips as December rate hike looks more likely

(Reuters) - U.S. stocks eased on Thursday after the Federal Reserve rekindled expectations of an interest rate hike in December and data suggested the economy was ready.

VW will stand by $900 million investments in Chattanooga plant

BERLIN (Reuters) - Volkswagen will stand by its plans to invest $900 million at its U.S. factory in Chattanooga, Tennessee to build a new midsize sport-utility vehicle, it said on Thursday.

U.S. pending homes sales decline in September

WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes fell unexpectedly in September, a warning sign that the housing market recovery may be stumbling.

7 Astounding Charts Show How Badly The Fed Failed The Housing Market

Submitted by Lee Adler via The Wall Street Examiner,

For generations, single family housing development was a driver of US economic growth. Today, there is no single family housing industry to speak of. These 7 charts derived from this week's release of new house sales data from the Census Bureau illustrates just how bad things are.

New house sales fell versus September 2015 and remain barely above the housing depression lows, a mere fraction of 2005 bubble levels. .

New House Sales- Click to enlarge

This recovery has not even reached the levels reached at the bottom of the 1992 or 1974 recessions. It has gotten back to the 1982 recession low, but there are 45 million more households today than in 1982. This chart shows September sales in thousands for each year since 1972.

New Home Sales Long Term - Click to enlarge

The number of full time jobs has returned to 2007 levels. Normally new house sales and jobs growth correlates somewhat. But while the number of jobs continued to grow since 2013, new home sales haven't kept pace. That's because most of the jobs being created are too low payi ...

The Probability Of A December Rate Hike Has Never Been Higher

What a difference a word and a day makes...

December odds the highest they have ever been...

Charts: Bloomberg

The Service Economy

by Keith Weiner

I have visited and spent weeks at a time in Europe. On this recent trip however, something clicked for me as I stared out my hotel window at a train station and seeing other public mass transportation moving on the street. In Europe, I think that most people don’t have cars because they’re too expensive.

Then a friend in Vienna said 90% of the people get at least some welfare. I don’t know if this number is accurate, but the reality is surely very high. It’s socialism to a degree that is almost all-pervasive. My American friends should be aware: we are not even close to this (yet).

Europeans are aware that their administered economy isn’t vibrant or dynamic. They know it’s nothing like the US economy used to be, or even the way it is now.

And they’re OK with that.

It’s but a small price to pay, they think, to achieve the goal of everyone being taken care of. The planners of course enjoy the power over people’s lives, not to mention the endless opportunities for graft. The people, well, they are freed from responsibility to worry about the future. It’s all taken care of.

And then it hit me. What is the ideal for these people (not all Europeans, but the ones who love this system)?

They want a world in which the government services them. The government is supposed to feed, water, clothe, shelter, doctor, and move the people where they need to be.

It’s a view of man like livestock.

I am helping put together a series of Monetary Innovation Conferences. The first two are in DC on Nov 13, and Phoenix on Nov 17. This is not just for the right wing, but for everyone from the unbanked to Wall Street. At the conference, speakers will discuss gold and how innovators are using it to solve real problems for real people. Please click here to register

Deutsche Bank to Shrink Workforce by 35,000 in Revamp

Deutsche Bank announced plans to eliminate 35,000 jobs from its payroll over the next two years as part of a sweeping overhaul under new co-Chief Executive John Cryan.

U.S. Stocks Edge Lower

U.S. stocks slipped Thursday, pulling back from a prior-day rally spurred by a Federal Reserve statement that many investors viewed as less cautious on the global economy.

Visa Nears $22 Billion Deal to Buy European Counterpart

Visa is in advanced negotiations to buy Visa Europe for about $22 billion in a deal that would unite Visa’s global operations.

September 2015 Pending Home Sales Index Declines

Written by Steven Hansen

The National Association of Realtors (NAR) seasonally adjusted pending home sales index declined. Our analysis of pending home sales agrees. The quote of the day from this NAR release:

There continues to be a dearth of available listings in the lower end of the market for first-time buyers, and Realtors in many areas are reporting stronger competition than what is normal this time of year because of stubbornly-low inventory conditions.

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