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06Mar2017 Market Update: Wall Street Trading Sideways In The Red, Investors Taking A Break, WTI Crude Steady In The 53 Handle

Written by Gary

U.S. stocks fell this morning (SPY -0.3%) with losses across sectors as investors' appetite for risk was curbed by geopolitical tensions in Asia and President Trump's accusation that Barack Obama, wiretapped him. New orders for U.S.-made goods increased for a second straight month.


Here is the current market situation from CNN Money

North and South American markets are mixed. The IPC is higher by 0.37%, while the Bovespa is leading the S&P 500 lower. They are down 0.71% and 0.29% respectively.

Traders Corner - Health of the Market

Index Description Current Value
Investors.com Members Sentiment: % Bullish (the balance is Bearish) 72%
CNN's Fear & Greed Index Above 50 = greed, below 50 = fear 69%
Investors Intelligence sets the breath Above 50 bullish 68%
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.

-22.29

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 $OEXA200R rises above 65%
Secondary Bullish Indicators:
a) RSI is POSITIVE (above 50)
b) Slow STO is POSITIVE (black line above red line)
c) MACD is POSITIVE (black line above red line)
89%
StockChart.com NYSE Bullish Percent Index ($BPNYA) Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. 70%
StockChart.com S&P 500 Bullish Percent Index ($BPSPX) In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. 79%
StockChart.com 10 Year Treasury Note Yield Index ($TNX) ten year note index value

25.05

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 86.68
StockChart.com NYSE Composite (Liquidity) Index ($NYA) Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors 11,539

There will be "trouble for equity markets" if the yield on the 10-year U.S. Treasury note moves beyond 3%, warned Jeffrey Gundlach, while another bond king stated 2.6% was the key level to watch.

According to Bill Gross, the number is much more important than Dow 20K, the price of oil or dollar strength, as it would signal a bear bond market.

What Is Moving the Markets

Here are the headlines moving the markets.

PSA targets Opel turnaround as GM exits Europe

PARIS/FRANKFURT (Reuters) - France's PSA Group has agreed to buy Opel from General Motors in a deal valuing the business at 2.2 billion euros ($2.3 billion), creating a new European car giant to challenge market leader Volkswagen .

Wall Street slips on wiretap accusation, geopolitical worries

(Reuters) - U.S. stocks fell on Monday with losses across sectors as investors' appetite for risk was curbed by geopolitical tensions in Asia and President Donald Trump's accusation that his predecessor, Barack Obama, wiretapped him.

Trump adviser Navarro: U.S, Germany should discuss trade outside EU

WASHINGTON (Reuters) - Trump administration trade adviser Peter Navarro said on Monday the $65 billion U.S. trade deficit with Germany was "one of the most difficult" trade issues, and bilateral discussions were needed to reduce it outside of European Union restrictions.

Muted response to Deutsche Bank's $8.5 billion cash call, strategic u-turn

BERLIN/FRANKFURT (Reuters) - Deutsche Bank's request for shareholders to sign an 8 billion euro ($8.5 billion) check to back its new strategy got a lukewarm reception on Monday from investors who want more detail on its plans.

U.S. factory orders rise for second straight month

WASHINGTON (Reuters) - New orders for U.S.-made goods increased for a second straight month in January, suggesting the recovery of the manufacturing sector was gaining momentum as rising prices for commodities spur demand for machinery.

GM will lay off 1,100 in Michigan after domestic production shift

WASHINGTON (Reuters) - General Motors Co said on Monday it will lay off 1,100 workers in May at its Lansing Delta Township assembly plant in Michigan as it shifts production of a vehicle to Tennessee.

Marriott to speed up expansion of Starwood brands: CEO

BERLIN (Reuters) - Hotels group Marriott International is planning to speed up the expansion of brands acquired in the takeover of rival Starwood, and is not ruling out further additions to its portfolio, its chief executive said on Monday.

Oil majors reverse decade of stalled growth to beat supply crunch fears

LONDON (Reuters) - Oil majors have long been passive watchers of the pump war between OPEC and U.S. shale producers, but not any more.

Volkswagen to unveil self-driving car as part of post-dieselgate shift

GENEVA (Reuters) - Volkswagen will show off a fully self-driving car at the Geneva auto show, as part of the German carmaker's drive to be at the forefront of new technologies in the wake of its diesel emissions scandal.

2017 Economic Forecast: Global Headwinds Look Like Mother of All Storms

The following article by David Haggith is from The Great Recession Blog: 2017 Economic Forecast is looking like the mother of all storms

Headwinds that are starting to assail

Hollande: "It Is My Ultimate Duty To Prevent A Le Pen Victory"

While French presidential polls remain volatile, and according to some, rather useless in light of the polling industry's striking failure to forecast either Brexit or Trump's victory, one person is looking beyond the daily headlines and gyrations, which have suggested a surge for Macron in recent weeks at the expense of FIllon ...

... and warning that Marine Le Pen could win the forthcoming presidential election in France. That is the opinion of outgoing President Francois Hollande, who vowed on Monday to "do everything" in his power to stop it happening, adding it was his "ultimate duty" to prevent a Le Pen victory.

While Le Pen remains a favorite to win the first round of the French presidential election on April 23, she is then expected to lose in the deciding second-round run-off on May 7 either to the centrist and pro-business Emmanuel Macron or conservative candidate Francois Fillon. However, with Fillon's campaign in turmoil over embezzlement allegations, analysts - having been burned twice already in the past year on their election forecasts - have warned that the election is extremely difficult to predict.

"There is a threat" of Le Pen winning the election, Hollande acknowledged in comments to French daily Le Monde cited by Reuters. "The far-right has not been so high (in the polls) for more than 30 years but France will not give in," vowed the president.

France "is aware that the vote on April 23 and May 7 will determine not only the fate of our country but also the future of the European project itself," he added, envisioning Le Pen's vow to ditch the euro as France's currency if elected an ...

Teacher's Pension Fund Involved In Brazilian Land Grabbing Scandal Had Unreported Ties To Number Of Special Interests

Via Disobedient Media

An investigation has revealed that the Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA)'s ties to a land grabbing scheme in Brazil had previously unnoticed connections to the Clinton Foundation, Senator Elizabeth Warren, the Open Society Foundation and Warren Buffet's Berkshire Hathaway Group. The land grab occurred at the same time as a leadership reshuffle at the TIAA and contributed to a worsening situation where poor Brazilians were forced off of their land and activists seeking to stand in the way are increasingly being threatened and in some cases, murdered.

I. The TIAA Participates Financially In Corporate Efforts To Disenfranchise Poor Landowners In Brazil

The TIAA is a Fortune 100 financial services organization that is the leading retirement provider for people who work in the academic, research, medical and cultural fields. As of June 30, 2016, they served over 5 million active and retired employees participating at more than 16,000 institutions, with $889 billion in combined assets under management. The TI ...

S&P 500; Reversal pattern last week at key level?

The S&P 500 along with numerous indices have been screaming higher over the past 90-days. Pre-election fear levels were high and stock market bulls, were hard to find. The strong move up, has some sentiment indicators reversing course, from where they were 90-days ago. Sentiment remains important to us, not nearly as important though, as the Power of the Pattern.

The 2-pack below looks at the S&P 500 ETF (SPY) on a weekly closing basis (left) and Hi/Lo/Closing basis (right), over the past couple ...

The Cheap Resource That Worries Oil Shale Drillers

The rising cost of fracking sand shows how drillers of oil and gas are facing rising costs and capacity constraints.

What a Catch: Dick's Sporting Goods Is Set to Break Out of Its Stock Slump

Wall Street is undervaluing the sporting-goods retailer, which is positioned to continue stealing market share from weaker competitors.

ECB's Next Trick? Acknowledge Europe's Improving Economy

A stronger eurozone economy with high political risks is a difficult mix for the ECB.

January 2017 Manufacturing New Orders Improve

Written by Steven Hansen

US Census says manufacturing new orders improved. Our analysis agrees - but there are significant "buts". The rolling averages improved.

Would you take a pay cut to help out a colleague?

The men and women of 'The Big Bang Theory' could provide an example to others.

Netflix's global blitz should lift subscriptions 20% this year

Analysts at UBS upgraded Netflix to buy from neutral on perceived upside to the company's first-quarter guidance on net subscriber adds.

Struggling shopping malls let high schools, doctors move in where Penney's used to be

Wells Fargo says some mall metrics look good on the surface thanks to unconventional tenants, but analysis shows problems with shopper traffic, rent prices and other issues.

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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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