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: Averages Melt Up To +1.8% And Climbing, $RUT Is Falling

admin by admin
October 17, 2014
in Uncategorized
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Written by Gary

Midday Market Commentary For 10-17-2014

The averages have remained above +1% and have melted up in a tight narrow zone on low volume to over 1.8% this morning. The SP500 has remained below a key resistance and below it 200 DMA as has the DOW and NASDAQ. The $RUT has slid continually from its opening +1% down to +0.4% showing no signs of reversing.

By noon the averages were sailing high sucking in the uninformed ‘Sheeples’ and bottom feeders.


I said earlier that the markets may enjoy some time in the sun, but there is at least one more ‘dip’ to confirm the bottom, then the fun begins for the BTFDers. I have also said before that this correction IS NOT the big one and the ‘end’ appears to be near.

StockTiming.com

Update on Institutional Investor activity …

Today’s updated Institutional point & figure chart shows you the action of their “core holdings” since the end of last December.

The not so good news is that the value of the Institutional “core holdings” have breached its rising channel so serious damage has been done.

It was showing consolidation yesterday, so it may have reached an oversold level. We shall know by the close on Monday.

If the Institutional “core holdings” can garner the strength to move higher, then its longer term danger would be if its next move was a lower/high that was followed by a downside move from there.

Our medium term indicators are leaning towards sell portfolio of non-performers at the midday and the short-term market direction meter is VERY bullish. We remain mostly, at best, negative and conservatively bullish. The important DMA’s, volume and a host of other studies have now turned and may be enough for some to start shorting. Right now now I am getting very concerned the current downtrend will get more aggressive in the short-term and volatility may promote sudden reversals. The SP500 MACD has turned down, but remains below zero at -28.41. I would advise caution in taking any position during this uncertain period and I hope you have returned your ‘dogs’ to the pound. Having some cash on hand now is not a bad strategy.

Looking at the weekly charts it appears we have another 4% to 5% more to go before we hit the up-trend line from 2009. Just a couple of serious down session would mark a good point for a reversal.

Investing.com members’ sentiments are 41 % Bearish (falling from 70%) and it seems to be a good sign for being bearish. The ‘Sheeples’ always seem to get it wrong.

Investors Intelligence sets the breath at 37.6 % bullish with the status at Bear Confirmed. (Chart Here ) I expect a market reversal at or before ~25.0.

StockChart.com NYSE Bullish Percent Index ($BPNYA) is at 39.28. (Chart Here) Below support zone and apparently going further down. Next stop was ~57 and now it is ~44, below that is where we will most likely see the markets crash. We are seriously below 44 and need a reversal pronto as it looks like there is nothing to stop the fall until 25 and taking the markets with it.

StockChart.com S&P 500 Bullish Percent Index ($BPSPX) is at 41.20. (Chart Here) In support zone and falling – doesn’t look good. ~62, ~57, ~45 at which the markets are in a full-blown correction. The next stop now is ~37.00.

StockChart.com 10 Year Treasury Note Yield Index ($TNX) is at 22.11. (Chart Here) Treasury Yield Curve Approaches Flattest Since 2009.

StockChart.com Overbought / Oversold Index ($NYMO) is at -9.67. (Chart Here) But 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. Today’s reading indicates we are ripe for another dip.

StockChart.com Consumer Discretionary ETF (XLY) is at 64.34. (Chart Here)

Chris Ciovacco says, “As long as the consumer discretionary ETF (NYSEARCA:XLY) holds above [66.88], all things being equal, it is a good sign for stocks and the U.S. economy.” This chart clearly shows that dropping below 65.00 / 62.75 (and staying there) should be of a great concern to bullish investors.

This $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%. Dropping below 40%-35% signals serious continuing weakness and falling averages.

Today it represents the lowest levels seen since the beginning of the October, 2011 rally. Eric Parnell says, ‘ If nothing else, given that relatively fewer stocks are trading above their 200-day moving average at a time when the market is just off of its all-time highs suggests that an increasingly narrowing group of stocks is driving the rally at this stage, which does not bode well for the future sustainability of the uptrend.” It also strongly suggests there has been a ‘stealth bear market’ underway in recent months.

StockChart.com NYSE % of stocks above 200 DMA Index ($NYA200R) is at 32.01 %. (Chart Here) Unless this downward trend reverses itself soon, we are going to see further downside. The next support is ~37.00, ~25.00 and ~15.00 below that. December, 20012 was the last time we saw numbers this low.

The Most Important Chart On Wall Street (NYA)

The arrows in the chart below show levels that have acted as support and resistance since 2006. The two blue lines intersect near 10,301. As long as 10,301 holds, the odds of a rally taking place will be higher. If 10,301 fails to attract support from buyers, then the bullish push higher in early 2014 could be classified as a “failed breakout”, which would increase the odds of bad things happening in the weeks ahead.

StockChart.com NYSE Composite (Liquidity) Index ($NYA) is at 10293. (Chart Here) Next stop is 9750, then 9250, and 8500.

The DOW at 12:00 is at 16421 up 304 or 1.89%.

The SP500 is at 1896 up 33 or 1.79%.

SPY is at 189.50 up 3 or 1.72%.

The $RUT is at 1091 up 5 or 0.43%.

NASDAQ is at 4288 up 71 or 1.69%.

NASDAQ 100 is at 3842 up 76 or 2.03%.

How the Popular ‘VIX’ Gauge Works

$VIX ‘Fear Index’ is at 20.46 down 4.74 or -18.77%. Neutral Movement

(Follow Real Time Market Averages at end of this article)

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

How Oil Really Gets Priced

Saudi Arabia has reportedly been telling oil-market investors and analysts that it is ready to accept oil prices below $90 per barrel, and even as low as $80, for up to a year or two. If true, it would represent a major change in policy for Riyadh, which may be looking to slow the expansion of rivals such as the U.S.

WTI oil is trading between 84.42 (resistance) and 82.53 (support) today. The session bias is neutral, trending down and is currently trading down at 83.11. (Chart Here)

Brent Crude is trading between 87.19 (resistance) and 85.49 (support) today. The session bias is neutral, trending down and is currently trading down at 85.91. (Chart Here)

Why Gold Will Rise When The Dollar Falls

– and –

The general consensus is that gold prices will actually fall in the next twelve months (Sept to Aug. 2015). Goldman Sachs estimates that gold will fall to $1,050 an ounce, a drop of nearly 19%.

Gold fell from 1242.16 earlier to 1232.53 and is currently trading down at 1233.70. The current intra-session trend is negative. (Chart Here)

Currency Corruption Weighs on Copper

Dr. Copper is at 3.004 rising from 2.951 earlier. (Chart Here)

The US dollar is trading between 85.34 and 84.85 and is currently trading down at 85.26, the bias is currently positive. (Chart Here) Resistance made in Aug., 2013 (~85.00) has been broken and now is support. Support has been tested several times and has held.

 

The markets are still susceptible to climbing on ‘Bernankellen’ vapor, use caution!

“Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation inequities, they should try to be fearful when others are greedy and greedy only when others are fearful.” – Warren Buffett

If you would like to get advanced buy/sell tweets, sign-up in the column to the right of this post by clicking on the ‘Follow‘ button. Write me with suggestions and I promise not to bite.

Real Time Market Numbers

Leading Stock Quotes powered by Investing.com

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

[email protected]

Written by Gary

 

Previous Post

Residential Building Sector Near Expectations in September 2014, But Still a Mixed Bag

Next Post

Preliminary October 2014 Michigan Consumer Sentiment at Highest Level Since July 2007

Related Posts

Is Deflation Good For Crypto?
Uncategorized

Is Deflation Good For Crypto?

by John Wanguba
March 24, 2023
TikTok Hits 150M U.S. Monthly Users, A Spike From 100M In 2020
Business

TikTok Hits 150M U.S. Monthly Users, A Spike From 100M In 2020

by John Wanguba
March 24, 2023
SpaceX, Boeing, Netflix To Join "Biggest-Ever" US Business Mission To Vietnam
Business

SpaceX, Boeing, Netflix To Join “Biggest-Ever” US Business Mission To Vietnam

by John Wanguba
March 24, 2023
Do Kwon Faces Fraud Charges From US Authorities Hours After Arrest
Econ Intersect News

Do Kwon Faces Fraud Charges From US Authorities Hours After Arrest

by John Wanguba
March 23, 2023
Bank Profits At Risk From Possible CBDC Transformation OF Global Economy – Moody’s
Business

Bank Profits At Risk From Possible CBDC Transformation OF Global Economy – Moody’s

by John Wanguba
March 23, 2023
Next Post

Preliminary October 2014 Michigan Consumer Sentiment at Highest Level Since July 2007

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 bank banking banks Binance Bitcoin Bitcoin market Bitcoin mining blockchain BTC business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe finance FTX inflation investment market analysis Metaverse mining NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • 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

  • Is Deflation Good For Crypto?
  • TikTok Hits 150M U.S. Monthly Users, A Spike From 100M In 2020
  • SpaceX, Boeing, Netflix To Join “Biggest-Ever” US Business Mission To Vietnam

© 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