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04Apr2016 Market Update: Markets In The Red Fractionally, WTI Crude Slips To Low $36 Support And Holding, Volume Falling To Anemic Levels

Written by Gary

Afternoon markets trading mostly sideways, in the red fractionally with a hint of a downturn in the making. Short-term indicators are definitely bearish, but a longer look (2 weeks) shows an up turn is possible. The Spooze hasn't reached its resistance level of 2075/80. Cracking that level will send the bears into hiding and the analysts scrambling to reiterate what they 'really' meant to say.

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) 77%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 76%
Investors Intelligence sets the breath Above 50 bullish 57.3% Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. +12.88 NYSE % of stocks above 200 DMA Index ($NYA200R) $NYA200R chart below is the percentage of stocks above the 200 DMA and is always a good statistic to follow. It can depict a trend of declining equities which is always troubling, especially when it drops below 60% - 55%. Dropping below 40%-35% signals serious continuing weakness and falling averages. 54.69% NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 64.98% S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 79.20% 10 Year Treasury Note Yield Index ($TNX) ten year note index value 17.71 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 78.98 NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,212

What Is Moving the Markets

Here are the headlines moving the markets.

From Silicon Valley to Main St, firms say SunEdison owes money

LOS ANGELES (Reuters) - Businesses ranging from Silicon Valley venture capitalists to a small Massachusetts solar installer say they are owed money by SunEdison Inc, underscoring the breadth of a breakneck expansion seen contributing to the solar and wind energy company's financial woes.

World figures deny wrongdoing as 'Panama Papers' turn spotlight on tax avoidance

LONDON/PANAMA CITY (Reuters) - Governments across the world began investigating possible financial wrongdoing by the rich and powerful on Monday after a leak of four decades of documents from a Panamanian law firm that specialized in setting up offshore companies.

Wall Street flat as investors take stock after rally

(Reuters) - U.S. stocks were largely unchanged on Monday in muted trading as investors took a breather from a recent rally that helped indexes recover from a selloff at the start of the year.

U.S. top court rejects Wal-Mart, Wells Fargo class action appeals

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday rejected two corporate challenges in class action cases, refusing to hear bids by Wal-Mart Stores Inc and Wells Fargo & Co to throw out large judgments against them.

U.S. factory data signals further slowdown in economic growth

WASHINGTON (Reuters) - New orders for U.S. factory goods fell in February and business spending on capital goods was much weaker than initially thought, the latest indications that economic growth slowed further in the first quarter.

Alaska Air to buy Virgin America for $2.6 billion

NEW YORK (Reuters) - Alaska Air Group Inc said on Monday that it would buy Virgin America Inc for $2.6 billion to become the top carrier on the U.S. West Coast and compete more effectively with larger airlines.

Honeywell names chief operating officer seen as CEO-in-waiting

NEW YORK (Reuters) - Honeywell International Inc on Monday named Darius Adamczyk as its first president and chief operating officer, a newly-created role seen as a step toward designating a successor to Chief Executive Dave Cote, who has led the company for 14 years.

EU competition chief says unclear when Apple tax probe will be decided

BRUSSELS (Reuters) - A two-year investigation into whether Apple's tax deal with Irish authorities gave the iPhone maker an unfair advantage will take a lot longer because of the large amount of data involved, the EU antitrust chief said on Monday.

U.S. top court rejects Wells Fargo challenge to $203 million class action judgment

WASHINGTON (Reuters) - The U.S. Supreme Court on Monday rejected Wells Fargo & Co's appeal of a $203 million judgment that it was ordered to pay to resolve a class action lawsuit accusing it of imposing excessive overdraft fees.

On the I.M.F.'s Nefarious Activities - Greece, Indonesia, and Who Knows What Else

Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.

Over the weekend, the New York Times reported that WikiLeaks transcripts suggested that the International Monetary Fund (I.M.F.) had discussed the possibility of hatching nefarious plots against Greece. Immediately, Prime Minister Alexis Tsipras accused the I.M.F. of trying to œpolitically destabilize Europe.

While this current flap is wrapped in conjecture and speculation at this point, past experience with the I.M.F.'s role in destabilizing Indonesia during the Asian Financial Crisis and promoting regime change are facts.

On August 14, 1997, shortly after the Thai baht collapsed on July 2, Indonesia floated the rupiah. This prompted Stanley Fischer, Deputy Managing Director of the I.M.F., to proclaim that œthe management of the I.M.F. welcomes the timely decision of the Indonesian authorities. The floating of the Rupiah, in combination with Indonesia's strong fundamentals, supported by prudent fiscal and monetary policies, will allow its economy to continue its impressive economic performance of the last several years.

Contrary to the I.M.F.'s expectations, the rupiah did not float on a sea of tranquility. It plunged from 2,700 rupiahs per U.S. dollar at the time of the float to lows of nearly 16,000 rupiahs per U.S. dollar in 1998. Indonesia was caught up in the maelstrom of the Asian crisis.

By late January 1998, President Suharto realized that the I.M.F. medicine was not working and sought a second opinion. In February, I was invited to offer that opinion and began to operate as Suharto's Special Counselor. Although I did not have any opinions on the Suharto government, I did have definite ones on the matter at hand. After many discussio ...

Deutsche Bank and Credit Suisse: Here Come the Hard Yards

These two European investment banks are facing their biggest restructuring challenges at the worst possible time.

At Least One Number in Europe Is Going in the Right Direction

Unemployment has been falling steadily in Europe. That at least should help sustain domestic demand.

How This Chinese Asset Swap Leaves Hong Kong Investors Shortchanged

Aluminum firm Zhongwang is injecting its chief operating asset into a Shanghai shell company in a way that could destroy value.

February 2016 Manufacturing New Orders Declined?

Written by Steven Hansen

US Census says manufacturing new orders declined. Our analysis says sales improved and is now in expansion. Unadjusted unfilled orders' growth remains in CONTRACTION year-over-yea.

In One Chart: There's Facebook, then there's everybody else

Considering all the hype surrounding Snapchat's torrid growth and lofty valuation, you'd think Facebook was facing a near-term risk of losing the social-media crown.

Futures Movers: Oil lower as hopes dim for production freeze

Oil futures bounce between small gains and losses as hopes fade for a global agreement later this month to freeze oil production at January levels.

Market Snapshot: U.S. stocks fight slump in consumer-discretionary to start week

U.S. stocks were in negative territory Monday, as losses for consumer-discretionary companies, like Nike Inc., overshadowed a rally in health-care stocks.

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