Global Economic Intersection
Advertisement
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
  • Home
  • Economics
  • Finance
  • Politics
  • Investments
    • Invest in Amazon $250
  • Cryptocurrency
    • Best Bitcoin Accounts
    • Bitcoin Robot
      • Quantum AI
      • Bitcoin Era
      • Bitcoin Aussie System
      • Bitcoin Profit
      • Bitcoin Code
      • eKrona Cryptocurrency
      • Bitcoin Up
      • Bitcoin Prime
      • Yuan Pay Group
      • Immediate Profit
      • BitQH
      • Bitcoin Loophole
      • Crypto Boom
      • Bitcoin Treasure
      • Bitcoin Lucro
      • Bitcoin System
      • Oil Profit
      • The News Spy
      • Bitcoin Buyer
      • Bitcoin Inform
      • Immediate Edge
      • Bitcoin Evolution
      • Cryptohopper
      • Ethereum Trader
      • BitQL
      • Quantum Code
      • Bitcoin Revolution
      • British Trade Platform
      • British Bitcoin Profit
    • Bitcoin Reddit
    • Celebrities
      • Dr. Chris Brown Bitcoin
      • Teeka Tiwari Bitcoin
      • Russell Brand Bitcoin
      • Holly Willoughby Bitcoin
No Result
View All Result
Global Economic Intersection
No Result
View All Result

Market Commentary: The Averages Close Higher As The Party Continues

admin by admin
January 7, 2014
in Uncategorized
0
0
SHARES
3
VIEWS
Share on FacebookShare on Twitter

Written by Gary

Closing Market Commentary For 01-07-2014

The averages put on a great show today with the DOW reaching 137 points at one point and settling at the close with a +106 point gain. Even the SP500 traded within a 7 point range all afternoon and the party continues.

By 4 pm the markets experienced a minor sell-off which is not unusual and the volume regained somewhat. Investors on the streets seem quiet content with the return of the positive market place and the bears are few and far between. The bullishness of many talking-heads is backed by the averages closing as serious gap made on 12-10-2013 clearing the way back up to the previous highs.


I have never heard such different opposing views of which way the market is going to go lately by some of the biggest names. The ‘big boys’ are claiming upwards while the not so well known are yelling watch out below. I do believe the ‘problems and issues’ both here and abroad HAVE NOT BEEN fixed and this casino market held with Viagra Market glue will eventually take the fall. The question is when? But I am one of those not so well known – what do I know?

Don’t Worry Folks, The Fed Says Stocks Aren’t Overvalued

Remember when the Fed got its Series 7 and Series 63, and was solely engaged in the business of advising on stock valuation? Neither do we. But that doesn’t prevent it from now openly opining on what it thinks is the fair value of stocks:

  • FED’S WILLIAMS SAYS U.S. STOCKS AREN’T OVERVALUED

So, the implication is one should buy stock then? And if the market craters tomorrow, the Fed will surely make everyone who listened to this non-voting moron who has made a complete mockery of the Fed’s inflation and full employment mandates and replaced them with the “fair stock value” mandate, whole at the expense of all the other taxpayers, right?

Finally, since the market is not overvalued here, what is the Fed’s price target on the S&P 500, oh unregistered financial advisors-cum-Princeton academics of the Marriner Eccles building.

The short term indicators are leaning slightly towards the hold side at the close. I would advise caution in taking any position during this volatile transition period as the sudden reversals can make any trades worthless. I would closely watch the next several days as the markets approach their previous highs. Testing this area will be telling as I have warned that we might see a 5% ‘correction’.

The longer 6 month outlook still remains 40-60 sell until we can see what the effects are in this almost nothing start of the Fed’s ‘Taper’. By March investors should know how the taper is going to work out in relationship to the stability of the US financial markets and their ability to not to slide downward. For now, I am continuing to expect weak to negative markets for the foreseeable future.

Here is the quandary some investors have now. They have bet on the QE program to bolster their profits and knowing full well they may see some eroding of profits over the next few months, so what should they do? Start reducing positions now, my choice, or let profits ride a bit longer? I would be afraid that if a serious ‘Black Swan’ popped up, the market decent would wipe out a lot of profits. This ‘house of cards’ the Fed has built is fragile and would not take a lot to tear it down.

I would also take chart and other technical indicators with a grain of salt for the time being and watch what the Fed does over the next 4 months. Removing 10 billion from the bond buying program each month isn’t going to do much in reducing the QE program in the beginning, but halving it in 4 months certainly will – IF – the Fed’s continues the taper program.

My instincts tell me that the Keynesian’s are going to be reluctant to stop their grand financial experiment and will want to taper the taper within the next several months – especially if the employment rate increases.

Also, many pundits have stated that we may have seen the top – but I wouldn’t count it as long as the Fed continues to hand out ‘Market Viagra’, even if it has been reduced somewhat! I would like to see a blowout candle (shooting star) to verify a top along with heavy volume to signify a market top.

The DOW at 4:00 is at 16531 up 106 or 0.64%.

The SP500 is at 1838 up 11 or 0.61%.

SPY is at 183.38 up 1 or 0.61%.

The $RUT is at 1158 up 10 or 0.91%.

NASDAQ is at 4153 up 39 or 0.96%.

NASDAQ 100 is at 3558 up 31 or 0.88%.

The longer trend is up, the past months trend is bullish, the past 5 sessions have been negative and the current bias is negative.

How Oil Really Gets Priced

WTI oil is trading between 94.18 and 93.37 today. The session bias is neutral and is currently trading up at 93.90.

Brent Crude is trading between 107.69 and 106.88 today. The session bias is neutral and is currently trading down at 107.47.

Gold fell from 1244.60 earlier to 1224.80 and is currently trading down at 1230.90.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.360 rising from 3.343 earlier.

The US dollar is trading between 80.75 and 81.10 and is currently trading down at 81.01, the bias is currently positive.

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

[email protected]

 

Written by Gary

 

Previous Post

Market Commentary: Markets Melt Off Highs, HFT Manipulation Suspected

Next Post

One Chart Shows How EU’s Own Banks a Fatal Threat in 2014

Related Posts

Ethereum ICO Whale Address Moves 145K ETH After 3 Years Of Silence
Economics

Ethereum ICO Whale Address Moves 145K ETH After 3 Years Of Silence

by John Wanguba
August 15, 2022
Australian Court Instructs Google To Pay $43M For Misinforming Users
Econ Intersect News

Australian Court Instructs Google To Pay $43M For Misinforming Users

by John Wanguba
August 15, 2022
Dollar Fell Marginally Last Week As Inflation Seems To Peak
Economics

Dollar Fell Marginally Last Week As Inflation Seems To Peak

by John Wanguba
August 15, 2022
Mark Cuban Sued For Supposedly Promoting Crypto Ponzi Scheme
Business

Mark Cuban Sued For Supposedly Promoting Crypto Ponzi Scheme

by John Wanguba
August 15, 2022
Germany Economy Lose $265B In Added Value  Due To Rising Energy Prices And War
Economics

Germany Economy Lose $265B In Added Value  Due To Rising Energy Prices And War

by John Wanguba
August 13, 2022
Next Post

One Chart Shows How EU’s Own Banks a Fatal Threat in 2014

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins banking banks Binance Bitcoin Bitcoin adoption Bitcoin market Bitcoin mining blockchain BTC business China Coinbase crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum finance funding inflation investment market analysis markets Metaverse mining NFT NFTs nonfungible tokens nonfungible tokens (NFTs) price analysis regulation Russia social media technology Tesla the US Twitter

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • August 2010
  • August 2009

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized
Global Economic Intersection

After nearly 11 years of 24/7/365 operation, Global Economic Intersection co-founders Steven Hansen and John Lounsbury are retiring. The new owner, a global media company in London, is in the process of completing the set-up of Global Economic Intersection files in their system and publishing platform. The official website ownership transfer took place on 24 August.

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Recent Posts

  • Ethereum ICO Whale Address Moves 145K ETH After 3 Years Of Silence
  • Australian Court Instructs Google To Pay $43M For Misinforming Users
  • Dollar Fell Marginally Last Week As Inflation Seems To Peak

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

No Result
View All Result
  • Home
  • Contact Us
  • Bitcoin Robot
    • Bitcoin Profit
    • Bitcoin Code
    • Quantum AI
    • eKrona Cryptocurrency
    • Bitcoin Up
    • Bitcoin Prime
    • Yuan Pay Group
    • Immediate Profit
    • BitIQ
    • Bitcoin Loophole
    • Crypto Boom
    • Bitcoin Era
    • Bitcoin Treasure
    • Bitcoin Lucro
    • Bitcoin System
    • Oil Profit
    • The News Spy
    • British Bitcoin Profit
    • Bitcoin Trader
  • Bitcoin Reddit

© Copyright 2021 EconIntersect - Economic news, analysis and opinion.

en English
ar Arabicbg Bulgarianda Danishnl Dutchen Englishfi Finnishfr Frenchde Germanel Greekit Italianja Japaneselv Latvianno Norwegianpl Polishpt Portuguesero Romanianes Spanishsv Swedish