US stock market indexes are heading lower (SPY -07%) as traders eyed the release of key data while weighing the latest concerns about an FBI investigation into Hillary Clinton's use of a private email server. Short-Term indicators are moderately bearish.
Here is the current market situation from CNN Money
North and South American markets are broadly lower today with shares in Brazil off the most. The Bovespa is down 2.40% while Mexico's IPC is off 1.84% and U.S.'s S&P 500 is lower by 0.66%.
$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)
Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
WASHINGTON (Reuters) - U.S. factory activity increased for a second straight month in October amid a pickup in production and hiring, supporting views manufacturing would regain some momentum in the fourth quarter.
(Reuters) - Pfizer Inc said it halted development of a costly new type of cholesterol fighter because disappointing clinical trial data and an unfavorable market for similar approved drugs bode poorly for its injectable medicine.
DETROIT (Reuters) - General Motors Co's sales in October fell a less-than-forecast 1.7 percent as hefty gains for pickups and SUVs offset declines for its sedans but the industry was expected to report a larger drop.
(Reuters) - In an age when most bankers use keyboards to communicate with each other, a small group of the Wall Street elite refuses to say anything substantive in an email, text or chat, and some will not communicate digitally at all.
NEW YORK (Reuters) - The U.S. economy is on track to grow at a 2.3 percent annualized pace in the fourth quarter on expected lower consumer spending and overall investments, the Atlanta Federal Reserve's GDP Now forecast model showed on Tuesday.
(Reuters) - Thomson Reuters Corp third-quarter earnings beat analyst expectations on Tuesday and the company said it would cut jobs worldwide, taking a fourth-quarter charge of $200 million to $250 million to streamline its business.
NEW YORK (Reuters) - Oil prices edged higher on Tuesday as a weaker dollar boosted greenback-denominated commodities, although worries that OPEC will not do much to reduce a global glut kept the market near one-month lows.
If you're a single-digit millionaire ... you have no effective access to our legal system.
Thiel is saying even plain vanilla millionaires can't afford justice in America.
Fordham Law School professor and criminal justice expert John Pfaff notes that - using 2007 numbers - many states' entire budgets for legal defense for people who can't afford a lawyer is in the single-digit millions.
(Given that the Great Recession happened shortly afterward, those numbers have undoubtedly declined since 2007.)
In other words, under Thiel's logic, even if an entire states' annual budget for legal defense were spent on a single person, it wouldn't be enough to deliver justice.
Indeed, there are two systems of justice in America ... one for the fatcats ... and one for everyone else.
Technically speaking, the U.S. benchmarks are starting November — and the best six-month seasonal span — against an increasingly tenuous backdrop. Consider that the S&P 500 is back for its latest crack at the 2,117 support, while the small- and mid-cap benchmarks have concurrently reached three-month lows.
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