US major indexes have been trading mostly sideways (SPY +0.7%) in the afternoon hours. Crude prices are recovering fractionally along with the US dollar as market volume falls off. Indicators remain neutral at this time.
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 1.13% while Mexico's IPC is up 0.82% and U.S.'s S&P 500 is up 0.73%.
$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)
(Reuters) - Wall Street rallied on Tuesday, following a slew of market-beating results from marquee companies that led to the possibility that Corporate America could snap a four-quarter streak of declining profits.
WASHINGTON (Reuters) - U.S. consumer prices recorded their biggest gain in five months in September as the cost of gasoline and rents surged, pointing to a steady pickup of inflation that could keep the Federal Reserve on track to raise interest rates in December.
WELLSTON, Missouri (Reuters) - The crammed-to-capacity parking lot at a job training center in this St. Louis suburb is exhibit A for why the U.S. Federal Reserve remains at odds over the health of the U.S. labor market and how quickly interest rates should rise.
(Reuters) - Booming pharmaceutical sales drove strong quarterly results for Johnson & Johnson , but the company's shares fell more than 2 percent on worries that its blockbuster Remicade arthritis drug would soon face cheaper competition.
LONDON (Reuters) - The drop in sterling and some weakening in demand following the vote to leave the European Union have eaten into the earnings of foreign firms operating in Britain, companies have been saying as they reveal their third quarter results this month.
While it is unclear if it was done on purpose or by mistake, or if it is new disclosure moments ago a folder within what appears to be the Wikileaks server seems to have opened at the URL: https://file.wikileaks.org/file/ which provides a glimpse into thousands of doc, pdf, wav, jpg and various other files, as well as dozens of subdirectories including Videos, Syria-files, Collateral Murder, Japan Bribery Affair, and many others.
Alternatively, this may be just a release of old Wikileaks files: some readers have pointed out that some of the files in the directory can be found online.
It is unclear what the basis of this disclosure - if indeed that's what it is - although some are speculating that it may be the release of one of Wikileaks' so-called insurance file, if indeed the information proves to be new and credible.
Global Debt Grows & Central Banks Are Buyers Posted with permission and written by Tim Taschler, Sprott Global (CLICK FOR ORIGINAL)
The IMF reported last week that global debt hit a record $152 trillion. I'm old enough to remember when a million was a lot, and in the past two decades we have blown right through talking of millions and billions and are now throwing around trillions like it's nothing.
While The 'ever-fearful' Fed continues to hold rates at emergency low levels, President Obama proclaimed once again that "we've recovered quicker" as he took yet another economic victory lap. "I'm proud of our economic track record" he exclaimed, despite Harvard having blown that myth out of the water, before he turned his attention to Trump, talling him to "stop whining."
President Obama explained today...
*OBAMA ON ECONOMIC RECOVERY: FAIR TO SAY WE'VE RECOVERED QUICKER
*OBAMA: "I'M PROUD OF OUR ECONOMIC TRACK RECORD"
Which is odd, as we detailed previously, Harvward University thinks it's nothing to be proud of at all...
A couple of months back we posted 9 charts that, at least in our minds, debunked the myth of the "Obama Recovery" despite suggestions from the administration that any such efforts were just a futile attempt at "peddling fiction" (our original post: "These Are The 9 Zero Hedge Charts Showing "Obama's Recovery" That Angered The Washington Post").
Turns out that Harvard likes to dabble in "fiction peddling" as well:
"Remember, it's a rigged system. It's a rigged election," said Donald Trump in New Hampshire on Saturday.
The stunned recoil in this city suggests this bunker buster went right down the chimney. As the French put it, "Il n'y a que la verite qui blesse." It is only the truth that hurts.
In what sense is the system rigged?
Consider Big Media - the elite columnists and commentators, the dominant national press, and the national and cable networks, save FOX. Not in this writer's lifetime has there been such blanket hatred and hostility of a presidential candidate of a major party.
"So what?" They reply. "We have a free press!"
But in this election, Big Media have burst out of the closet as an adjunct of the regime and the attack arm of the Clinton campaign, aiming to bring Trump down.
Half a century ago, Theodore White wrote of the power and bias of the "adversary press" that sought to bring down Richard Nixon.
"The power of the press in America," wrote Teddy, "is a primordial one. It sets the agenda of public discussion; and this sweeping power is unrestrained by any law. It determines what people will talk about and think about — an authority that in other nations is reserved for tyrants, priests, parties and mandarins."
On ABC's "This Week," Newt Gingrich volunteered on Sunday that, "without the unending one-sided assault of the news media, Trump would be beating Hillary by 15 points."
On this one, Newt is right.
With all due respect, as adversaries, Harry Reid and Nancy Pelosi are not terribly formidable. Big Media ...
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