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07Sep2016 Market Update: New Market Highs, Crude And The US Dollar Climb Higher As The Major Indexes Slip Into The Red Along With Gold Trading Near Session Lows

Written by Gary

Wall Street is down marginally (SPY -0.2%) after crude prices and the US dollar reversed direction and climbed higher. New high were set by the SP 500 and $NDX earlier in the session, but have been unable to keep them as the major indexes have slid because investors remain unsure of Fed rate action.


Here is the current market situation from CNN Money

North and South American markets are mixed. The Bovespa is higher by 0.95%, while the IPC is leading the S&P 500 lower. They are down 0.67% and 0.18% respectively.

Traders Corner - Health of the Market

Index Description Current Value
Investors.com Members Sentiment: % Bullish (the balance is Bearish) 73%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 63%
Investors Intelligence sets the breath Above 50 bullish 67%
StockChart.com Overbought / Oversold Index ($NYMO) anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. +4.09
StockChart.com NYSE % of stocks above 200 DMA Index ($OEXA200R) $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%. Following a major market correction, the conditions for safe re-entry are when:
a) Daily $OEXA200R rises above 65%
Secondary Bullish Indicators:
a) RSI is POSITIVE (above 50)
b) Slow STO is POSITIVE (black line above red line)
c) MACD is POSITIVE (black line above red line)
87%
StockChart.com NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 71%
StockChart.com S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 76%
StockChart.com 10 Year Treasury Note Yield Index ($TNX) ten year note index value 15.32
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 80.89
StockChart.com NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 10,875

What Is Moving the Markets

Here are the headlines moving the markets.

S&P, Dow slightly lower as key Fed report awaited

(Reuters) - The S&P 500 index and the Dow were slightly lower on Wednesday as investors awaited a key report by the Federal Reserve to gauge the health of the U.S. economy.

U.S. job openings at record high, skills mismatch emerging

WASHINGTON (Reuters) - U.S. job openings surged to a record high in July, but a lag in hiring suggested employers were struggling to find qualified workers to fill the positions.

Apple sets stage for iPhone 7, many already waiting for 8

SAN FRANCISCO (Reuters) - The iPhone 7 is expected to make its global debut on Wednesday, but many consumers and investors are already setting their sights on Apple Inc's 2017 version of the popular gadget, hoping for more significant advances.

No quick fix seen at Chipotle but Ackman could add pressure: MS analysts

BOSTON (Reuters) - Repairing burrito chain Chipotle Mexican Grill will not be easy but billionaire activist investor William Ackman's new involvement in the company could push management to move more quickly, research analysts at Morgan Stanley wrote on Wednesday.

Ireland fights to restore investment reputation after Apple ruling

DUBLIN (Reuters) - The European Union's demand that Ireland claw back billions in tax from Apple has hit the country's reputation as an investment destination just as it eyes up opportunities from Brexit, but officials say the damage will be limited.

Mondelez outlines U.S. growth plans after Hershey snub

(Reuters) - Mondelez International Inc , the maker of Oreo cookies and Cadbury chocolates, outlined on Wednesday its plans to expand in the United States, a week after abandoning its pursuit of U.S. confectioner Hershey Co .

Investor lawsuits dismissed over IBM's 2014 write-down

NEW YORK (Reuters) - IBM Corp on Wednesday won the dismissal of a pair of proposed class action lawsuits filed after the company in 2014 announced it would take a $2.4 billion write-down in connection with selling its semiconductor unit.

WTO appeals court backs South Korea in U.S. trade dispute

GENEVA (Reuters) - South Korea won an appeal ruling at the World Trade Organization on Wednesday in a challenge to U.S. duties on Korean-made washing machines.

Deutsche Bank calls for reform of global financial messaging system SWIFT

FRANKFURT (Reuters) - Deutsche Bank is calling for a reform of SWIFT, the global financial messaging system which has faced criticism since February's $81 million heist at Bangladesh Bank.

Apple Unveils 'New' Jack-less iPhone, Trackable Watch - Live Feed

It's the big day (again). After the last disappointing Apple Event, Tim Cook is set to 'surprise' everyone with headphone-jack-less iPhones, a GPS-included Watch, and probably "one more thing."

The event, which will be held in San Francisco's Bill Graham Civic Auditorium, is the company's most important annual outing. Even as the iPhone remains the outsize producer of Apple's revenue and profit, sales of the smartphone have recently been declining. So, as The New York Times' Brian Chen notes, more than ever, the onus is on Apple to keep up excitement for the gadget.

What's different this time is that the rumormongers have been buzzing about something that the new iPhones will lack, rather than a flashy new feature. The item that is supposed to disappear is the traditional headphone jack, with Apple expected to turn people toward wireless headphones instead.

An Apple spokeswoman declined to comment ahead of the announcement.

Here's a rundown of what to expect from Wednesday's event:


The removal of the iPhone's headphone jack, which will enable the device to become water-resistant.

A revised home button on the iPhones with 3-D Touch, a feature that activates different actions based on how hard the button is pressed.

The Plus model of the iPhone, which is the version with a larger screen, is set to include a dual-lens camera to take professional-grade photos.

A new version of Apple's wearable compute ...

Millennials Horrified As Facebook Algo Accident Exposes Millions To New Ideas

At Facebook, the algorithm doesn't always know best. In late August, the social network put an algorithm in charge of its "trending" feature, selecting the most popular topics, articles and keywords. The change came after allegations in the spring that the contract workers who curated the news headline feature altered which articles appeared for political reasons.

Yet in recent days, as The Wall Street Journal reports, the "trending" lists have appeared more flawed than when humans were in charge. There have been false stories, misidentified keywords, and celebrity gossip in the place of more serious news.

"This doesn't seem like an appropriate solution," said Jason Turcotte, assistant professor of communication at California State Polytechnic University, Pomona. "Algorithms don't necessarily respond to news values or journalistic ethics. Algorithms respond to keywords, search terms and trends."

In doing away with the team of curators who had run "trending," Facebook redefined what it perceives as news. It modified the guidelines for the feature, giving more importance to smaller publications. "It's intentionally broad so we can be inclusive of a wide range of interests," Facebook said in the guidelines for the staff, published in late Augus.

The company was stung by the criticism that "trending" was biased, as alleged in a May report by tech blog Gizmodo. Facebook denied it was biased.

Relying on an algorithm distances the company from what appears on the site— ...

JPM's Head Quant Is Back With A Stark Warning: Volatility Is About To Surge; Here's Why

While his recent warnings about a return to market turbulence may have fizzled as a result of another unprecedented recent round of central bank intervention, by both the BOE and BOJ, who expanded their asset purchase programs to corporate bonds and doubling ETF monetizations, respectively while scapegoating Brexit, the period of calm is ending, and moments ago JPM's head quant Marko Kolanovic has released a new report, according to which the recent period of eerie, record calm across asset classes is about to end, warning that "we expect a significant increase in realized volatility, correlations and tail risk in September and October."

According to Kolanovic while a driver of the recent market stability the "relatively stable macro data and a seasonal decline in trading activity" he explains that "a significant driver of the volatility collapse was derivatives hedging effects, also known as pinning", as well as the near all-time high leverage for Volatility Targeting and Risk Parity strategies. However, "this is all about to change as a number of important catalysts materialize this month (ECB, BOJ, Fed meetings), seasonals push market volatility higher, and leverage in systematic strategies and option positioning provide fuel for volatility."

He also notes that normalization of monetary policy, rather than the current level of accommodative policy, poses a systemic risk for the market and could cut stock gains by 20% over the next three years:

How will the headwind of policy normalization impact these markets? This depends on the pace of normalization and any feedback loop with the economic cycle. For instance, if central banks normalize policy very gradually over 3 years and the economy doesn't stall, one could see near-zero returns for equities over that time period. The rationale is that the ave ...

If Donald Trump Wins US Election, Will Hillary Clinton Nullify Results Because Of Vladimir Putin?

Submitted by Alex Christoforou via TheDuran.com,

Call it "Plan B"...It's all being laid out, right at our feet . On Google and Facebook, during US late night shows, through CNN, MSNBC, the Washington Post and New York Times.

It will be the final death of whatever was left of American democracy.

The test run was accomplished with few casualties during the Democratic primaries, where Hillary Clinton and the DNC assured victory by rigging the entire voting process.

Debbie Wasserman Schultz lost her job as DNC Chair, but found a better job with the Clinton Campaign, and then won her Democratic primary Congressional District in Florida with little difficulty.

Bernie Sanders, who had the election stolen right from under his feet, fell quickly in line with his masters, and pathetically kissed Hillary's ring in an embarrassing display of beta manhood.

Now we are all being prepared for the ultimate con. The Ocean's Eleven of heists. The Presidency of the United States of America. The preparation is well underway.

The entire Democratic party is in on it. No one in the party speaks poorly of Clinton, no one questions her "careless" behavior, if not completely illegal and treasonous crimes.

The main stream media is all in on it. They censor Hillary fuck ups daily. The hide her obvious hea ...

Court May Have Ushered in Uncertainty on Privacy Rules

A recent court decision could create uncertainty over privacy rules for companies like AT&T, Verizon and Google.

Europe's Bond Market: Even Further Through the Looking Glass

Companies are borrowing for free thanks to the ECB. But where is investment?

How China Insurance Crackdown Could Rain on Deal-Making Parade

Starving insurers of the fodder that fueled aggressive forays into overseas investments means the frequency of Chinese bids may fade.

Capitol Report: Nomura modeled how the economy would change if Clinton and Trump got what they wanted

One consequence of a victory by Donald Trump in the presidential election — were his policies to be basically translated into actions — would be a jump in interest rates.

Market Snapshot: Stocks slide as investors focus on Apple event, Fed Beige Book

U.S. stocks on Wednesday turn lower after some choppy trade, as investors brace for a product announcement by Apple Inc. ahead of a key report on U.S. economic conditions.

Why it's gotten so hard for many people to get a mortgage

The low default rate since 2011 could mean home lending credit standards are too tight, says Urban Institute

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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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