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27Jan2016 Market Update: Markets Mixed, Crude Prices Up, FOMC Report Not Expected To Move Markets

Written by Gary

US markets opened lower as expected, but then proceeded to climb upwards where the large caps are showing green and the small caps are a half percentage point down. Crude prices have stabilized in the low 32's and volume is dropping off to almost anemic levels as investors await the FOMC report at 2 pm.

Here is the current market situation from CNN Money

North and South American markets are broadly higher today with shares in Brazil leading the region. The Bovespa is up 2.55% while Mexico's IPC is up 0.69% and U.S.'s S&P 500 is up 0.27%.

Traders Corner - Health of the Market

Index Description Current Value Members Sentiment: % Bullish (the balance is Bearish) 42%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 21%
Investors Intelligence sets the breath Above 50 bullish

23.2% Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. +6.18 NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 19.32% NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 26.92% S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 31.80% 10 Year Treasury Note Yield Index ($TNX) ten year note index value 20.50 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 73.65 NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 9,492

What Is Moving the Markets

Here are the headlines moving the markets.

Apple shares slip, to stay muted until iPhone 7 rings in growth

(Reuters) - Apple Inc shares fell as much as 6 percent on Wednesday after the company reported its slowest-ever rise in iPhone shipments, with an uptick likely only after the expected launch of iPhone 7 in September.

Russia pipeline chief says let's talk to OPEC about output

MOSCOW (Reuters) - Russian officials have decided they should talk to Saudi Arabia and other OPEC countries about output cuts to bolster oil prices, the head of Russia's pipeline monopoly said on Wednesday, remarks that spurred a sharp rise in prices.

Rebound in oil prices spurs gains in S&P 500, Dow

(Reuters) - The S&P 500 and the Dow reversed course and edged higher on Wednesday after a sharp surge in oil prices helped counter losses from Apple and Boeing's weak forecasts.

Fiat Chrysler ups 2018 financial targets, Jeep sales goal

MILAN (Reuters) - Fiat Chrysler Automobiles (FCA) raised the financial targets of its turnaround plan on Wednesday following a better-than-expected performance in North America and Europe and strong sales of its Jeep SUVs.

Oil soars 5 percent on output talks, spike in U.S. fuel demand

NEW YORK (Reuters) - Oil futures surged 5 percent on Wednesday, after Russia said co-operation with major oil producers was discussed and U.S. data showed a surprise spike in demand for products such as heating oil last week, when a massive blizzard hit the country.

Google ships five million Cardboard virtual reality devices

(Reuters) - Alphabet Inc's Google said it had shipped 5 million units of the Google Cardboard viewer, a wearable device that allows users to experience virtual reality through mobile apps.

EU seeks more powers over national car regulations after VW scandal

BRUSSELS (Reuters) - The European Union sought sweeping powers over national car regulations on Wednesday, aiming to prevent a repeat of Volkswagen's emissions test cheating scandal and sparking a tough debate as governments and industry resist change.

New U.S. single-family home sales race to 10-month high

WASHINGTON (Reuters) - New U.S. single-family home sales surged in December to their highest level in 10 months, the latest indication that the housing sector remains on a firmer footing despite a massive stock market sell-off and slowing economic growth.

Boeing forecasts 2016 earnings below estimates; shares tumble

(Reuters) - Boeing Co , said on Wednesday it would deliver fewer planes in 2016 and forecast earnings below expectations, sending shares tumbling as much as 10 percent to a 52-week low.

US Economy: On A Knife's Edge

Submitted by Pater Tenebrarum via,

Gross Output Remains Under Pressure

We should mention right from the outset that recent data releases - weak as most of them were - are still not confirming an imminent recession with certainty. The situation remains a bit fuzzy: we see a lot of weakness in important data, and considering the overall picture - which includes what is happening globally - we can infer that the likelihood of a significant economic downturn this year is extremely high, but it's not inevitable. While it is still possible that a recession can be dodged this year, that seems a low probability outcome by now.


Last week the government has updated the gross output (GO) per industry data, which means we now have the picture until the end of Q3 2015. In terms of GDP, Q3 wasn't much to write home about either (2% real), and we can see from GO that there has been weakness in quite a few business areas. The parts of the economy that are responsible for the bulk of wealth creation didn't really do all too well. Our suspicion that the trends observed in the Q2 gross output data would continue has been confirmed - and in all likelihood, Q4 will once again show weakness. Below we compare the y/y change rates of selected gross output data to those of new orders for capital goods and industrial production.

Dollar's Rise Poses Risk for Fed Plans

As Federal Reserve officials prepare to release interest-rate guidance Wednesday, investors are bracing for the dollar to renew its rise against America's major trading partners and intensify unrest throughout the world's financial markets.

Oil Rally Turns Stocks Higher

Energy stocks turned higher as oil prices rallied. The S&P 500 rose 0.4%, led by a 1.5% jump in energy stocks. Oil prices surged after data showed a smaller-than feared increase in stockpiles.

Oil Surges Despite Big Rise in Stockpiles

Oil prices turned higher Wednesday as key data showed a smaller-than-feared increase in crude-oil stockpiles.

Market Extra: Gold bugs have been crushing it in 2016 relative to stock markets

Who would have guessed that gold would be one of the best assets to own in 2016? But so far that has been precisely the case.

Earnings take a dark turn as profit warnings, sales misses mount

Earnings season takes a dark turn, with mounting profit warnings and sales misses boding badly for the stock market.

Earnings Summary for Today

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