Written by Gary
US stock indexes have risen from session lows to the unchanged line (SPY -0.02%), while crude prices rose after data showed that crude supplies in the U.S. fell unexpectedly last week. Market indicators are bearish going towards Friday’s Fed rate announcement.
Here is the current market situation from CNN Money | |
 | North and South American markets are mixed. The Bovespa is higher by 0.01%, while the IPC is leading the S&P 500 lower. They are down 0.65% and 0.03% respectively. |
Traders Corner – Health of the Market
| Index | Description | Current Value |
| Investors.com Members Sentiment: | % Bullish (the balance is Bearish) | 71% |
| CNN’s Fear & Greed Index | Above 50 = greed, below 50 = fear | 47% |
| Investors Intelligence sets the breath | Above 50 bullish | 59% |
| StockChart.com Overbought / Oversold Index ($NYMO) | anything below -30 / -40 is a concern of going deeper. Oversold conditions on the NYSE McClellan Oscillator usually bounce back at anything over -50 and reverse after reaching +40 oversold. | -7.21 |
| StockChart.com NYSE % of stocks above 200 DMA Index ($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 $OEXA200R rises above 65% Secondary Bullish Indicators: a) RSI is POSITIVE (above 50) b) Slow STO is POSITIVE (black line above red line) c) MACD is POSITIVE (black line above red line) | 70% |
| StockChart.com NYSE Bullish Percent Index ($BPNYA) | Next stop down is ~57, then ~44, below that is where we will most likely see the markets crash. | 61% |
| StockChart.com S&P 500 Bullish Percent Index ($BPSPX) | In support zone and rising. ~62, ~57, ~45 at which the markets are in a full-blown correction. | 59% |
| StockChart.com 10 Year Treasury Note Yield Index ($TNX) | ten year note index value | 17.81 |
| 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 | 79.22 |
| StockChart.com NYSE Composite (Liquidity) Index ($NYA) | Markets move inverse to institutional selling and this NYA Index is followed by Institutional Investors | 10,550 |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Wall St. pares losses on oil recovery; Apple still top drag(Reuters) – Wall Street was lower on Wednesday morning as Apple’s weak results weighed on technology stocks but a sharp recovery in oil prices limited some losses. |
| U.S. new home sales rise in September; prior month revised downWASHINGTON (Reuters) – New U.S. single-family home sales unexpectedly rose in September, pointing to sustained demand for housing even as data for August was revised sharply lower. |
| Microsoft announces Windows update with 3D featuresNEW YORK (Reuters) – Microsoft Corp on Wednesday announced a free update to its Windows operating system that lets users take photos and edit content in three dimensions, in an effort to bring excitement to its declining computing business. |
| Barclays, UBS settle with bondholders over Libor manipulationNEW YORK (Reuters) – Barclays Plc and UBS AG have agreed to settle U.S. litigation by bondholders who accused the banks of conspiring with rivals to rig the Libor benchmark interest rate, lawyers for the plaintiffs said in court filings on Wednesday. |
| U.S. to secure guilty plea in case tied to JPMorgan hack probeNEW YORK (Reuters) – U.S. prosecutors are expected to obtain their second guilty plea in a case related to what they say was an illegal bitcoin exchange owned by an Israeli behind a series of hacking attacks on organizations such as JPMorgan Chase & Co. |
| Google halts Fiber rollout in some U.S. cities(Reuters) – Alphabet Inc is halting the rollout of its much-talked about high-speed internet service, Google Fiber, in some cities in the United States. |
| Exclusive: EU proposes a phasing in of some bank capital rules – documentLONDON (Reuters) – Banks in the European Union will get more time to adjust to new rules aimed at making sure that banks hold enough of a capital cushion against risky lending on their trading books, an EU document showed on Wednesday. |
| Wall Street leaders too insulated, says watchdog for U.S. rescue fundWASHINGTON (Reuters) – Wall Street executives are too shielded from prosecution and should answer for misdeeds committed by underlings, the watchdog for a multibillion-dollar bailout said on Wednesday. |
| SEC to weigh ‘universal’ proxies sought by investorsBOSTON (Reuters) – U.S. securities regulators on Wednesday will consider allowing investors to pick directors from a single ballot, in what would be the latest move to open up the governance process of large corporations. |
| Trump Says He’d Love To Fight “Mr. Tough Guy” After Joe Biden’s “Behind The Gym” ThreatsJoe Biden said he wanted to take Trump behind the bleachers and beat him up. No one on Clinton’s side disavowed that call to violence because, we assume, they consider it justified hyperbole, but, as NBC News reports, it appears Donald Trump is in. While campaigning for Hillary Clinton last week in Wilkes Barre, Pennsylvania, the veep said he’s always asked by reporters if he wished he were the one debating Trump. “No,” Biden responded. “I wish we were in high school. I could take him behind the gym. That’s what I wish.” Rounding out a full day of rallies in Florida Tuesday night, the GOP nominee went off on a tangent against Biden, calling him “Mr. Tough Guy” for comments the VP made last week that if it were high school he’d take Mr. Trump “behind the gym.” Trump remembered the comments slightly differently — he said, “did you see Biden wants to take me to the back of the barn?” — but wasn’t deterred by the sentiment behind them.
“I’d love that,” he said of the idea of the two grown men tussling as if they were high … |
| Forget OPEC The Oil Market Is Rebalancing (Video)By EconMatters We keep getting surprise Oil Inventory reports each week for the last 6 weeks, it seems we are in slight deficit right now, which is unusual for this time of year. We are headed to $60 a barrel regardless of OPEC nonsense. EconMatters All Rights Reserved | Facebook | Twitter | YouTube | Email Digest | |
| The Boredom Before The StormSubmitted by John Rubino via DollarCollapse.com, With all the surprising and/or disturbing things going on – Brexit, China’s soaring debt, US/Russia/China saber rattling, the, um, unique US presidential race, the cyber attack that shut down big parts of the US Internet – you’d think that an unsettled world would be reflected in skittish financial markets. Instead we’re getting the opposite, with stock price movements becoming more and more placid as the year goes on. The following chart shows the volatility index (VIX) for the S&P 500 which, after some notable action in 2008 and 2011, has become ever-calmer, with recent readings comparable to the (in retrospect delusional) levels of 2006, just before the biggest financial crisis since the Great Depression.
And it’s not just equity risk that has been pummeled…
What’s going on? First, during credit bubbles volatility normally contracts because enough new money is being created to provide pretty much everything with a bid. In other words, all the new liquidity being created by desperate governments has to go somewhere, so dips get bought before they can become drama … |
| Apple Dials Down Modest iPhone HopesThe rally in Apple’s shares since the new iPhone was unveiled could stall, but the stock is still cheap. |
| Santander: A Rare Bank That Lives Up to Hard PromisesThe Spanish lender is exposed to a tough market in Brazil, but its loan losses remain contained. |
| China’s Latest Debt Crackdown Just Delays More Serious ActionChina faces a broad dilemma: how to manage a huge debt mound while maintaining loose monetary policy. |
| Tim Kaine says Clinton will be his first female boss, yet Americans still prefer a male bossDemocratic vice presidential candidate Tim Kaine says that if Hillary Clinton is elected president, this is the first time he will ever work for a female boss. |
| 3 reasons the cost of your mortgage can go up before you closeThe total cost of your mortgage can wind up rising before you close on the loan, especially if you don’t plan accordingly. |
| Value stocks — and patience — may be the only way to turn around bleak returnsValue stocks measured by free cash-flow yields that are held long enough for compounding do its magic are one of the few bright spots in an increasingly bleak world of investing, according to Société Générale’s head of quantitative equity research Andrew Lapthorne |
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