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07Dec2015 Market Update: Markets Are Down, SP500 Touched 2070 Pivot Point And Reversed, WTI Oil Testing $38 Major Support, Tighten Seat Belts Just In Case

Written by Gary

U.S. averages slid for most of the morning session and just recently paused along with crude oil. WTI reached $37.88 and is trading sideways at its major support of $38.00. The DOW is down triple digits and the SP500 is down almost one percentage point and market volumes have dropped to anemic levels as the markets appear to be consolidating for the next move.


Here is the current market situation from CNN Money

North and South American markets are lower today with shares in U.S. off the most. The S&P 500 is down 0.95% while Mexico's IPC is off 0.19% and Brazil's Bovespa is lower by 0.19%.

This rare streak suggests we may be looking at a 'severe bear market'

The S&P 500 hasn't posted back-to-back gains in a month, a rare pattern shown in this chart that historically rears its head during "severe bear markets or large corrections," according to the Price Action Lab blog. Full Story

Oil plunges toward a 7-year low

Oil futures keeps sliding in the aftermath of the Organization of the Petroleum Exporting [Country's] decision to keep crude production running at current levels. See full story.

Traders Corner - Health of the Market

Index Description Current Value
Investors.com Members Sentiment: % Bullish (the balance is Bearish) 61%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 47%
Investors Intelligence sets the breath Above 50 bullish 47.6%
StockChart.com Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. -14.31
StockChart.com NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 36.71%
StockChart.com NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 51.59%
StockChart.com S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 64.20%
StockChart.com 10 Year Treasury Note Yield Index ($TNX) ten year note index value 22.22
StockChart.com 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 80.73
StockChart.com NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,299

What Is Moving the Markets

Here are the headlines moving the markets.

Airbus eyes 2015 win over Boeing as orders hit 1,000

PARIS (Reuters) - Airbus orders topped 1,000 aircraft between January and November, sending its shares higher as it looked all but certain to win its annual race against U.S. rival Boeing . Boeing, however, remained in comfortable shape to retain its title as the world's largest jetliner producer as Europe's Airbus continued to lag on deliveries. Shares in Airbus Group rose 2.8 percent, while Boeing edged 0.4 percent higher. Airbus said on Monday that it had

GE calls off Electrolux appliance deal amid U.S. antitrust fight

STOCKHOLM/WASHINGTON (Reuters) - General Electric on Monday walked away from a $3.3 billion agreement to sell its appliances business to Sweden's Electrolux, terminating the deal after months of opposition from U.S. antitrust regulators.

S&P/Experian Auto Default Index

This index measures the default rates across auto loans. It is included in the S&P/Experian Consumer Credit Default Index Series which seeks to measure the balance-weighted proportion of consumer credit accounts that go into default for the first time each month. (Draw your own conclusions. ed.)


Plunging oil prices drag down Wall Street

(Reuters) - Wall Street started the week in the red as energy and raw material stocks took a hit, with oil prices falling to their lowest in nearly seven years.

Ford's Russia unit looks to exports to offset slump in home market

MOSCOW (Reuters) - U.S. carmaker Ford's Russian unit is considering expanding exports as weak sales in its home market look set to continue for another year at least, its chief executive told Reuters.

K-Cup maker Keurig to be taken private for $13.9 billion

(Reuters) - Keurig Green Mountain Inc, the maker of K-Cup single-serve coffee pods, said on Monday it would be bought by an investor group led by Germany's JAB Holding Co (JAB) for about $13.9 billion, creating a global coffee giant.

Deutsche Bank launches 'robo adviser' for equities investors

FRANKFURT (Reuters) - Deutsche Bank has launched a computerized investment advisory service, seeking to keep up with other asset managers who have started introducing "robo advisers" to help certain clients create portfolios inexpensively.

Exclusive: Cuba nears deal with Paris Club on debt forgiveness

HAVANA (Reuters) - Cuba is near a deal with 15 rich creditor nations of the Paris Club to restructure $16 billion in debt stemming from a 1986 default, with creditors expected to forgive most of the amount owed, diplomats close to the talks said.

IMF's Lagarde calls for 'wise' taxes to foster greener fuels

BERLIN (Reuters) - International Monetary Fund chief Christine Lagarde called on Monday for tax reforms to be included in a global climate deal to raise incentives for consumers to reduce their energy consumption and to boost demand for cleaner fuels.

Oil Falls to Near Seven-Year Lows

Oil prices dropped to near seven-year lows as investors continued to assess OPEC's decision to continue pumping crude at near-record levels into an already oversupplied market.

U.S. Stocks Extend Losses as Oil Keeps Sliding

U.S. stocks extended their losses Monday, led lower by a deepening selloff in energy shares as oil prices plumbed new lows.

The Stock Market Is Missing the Warning From Junk

Junk bonds are headed for their first annual loss since the credit crisis, reflecting concerns that a six-year U.S. economic expansion and stock-market boom are on borrowed time.

November 2015 Conference Board Employment Index Suggests A Slowdown in Job Growth

Written by Steven Hansen

The Conference Board's Employment Trends Index - which forecasts employment for the next 6 months - declined relative to last month, but still grew year-over-year. Consider that this projected growth is six months from now.

In One Chart: This rare streak suggests we may be looking at a 'severe bear market'

The S&P 500 hasn't posted back-to-back gains in a month, a rare pattern shown in this chart that historically rears its head during œsevere bear markets or large corrections, according to the Price Action Lab blog.

In One Chart: In one chart: McDonald's remarkable rebound

The restaurant chain's stock has surged 28% this year.

Your childhood Christmas toys may be worth more than you think

!980s toys in original packaging fetch high auction prices as nostalgia rises.

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

gary@econintersect.com

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