sp'60min
Summary
It is Friday the 13th, and for those who get easily spooked.... perhaps its best to stay in bed all day, with all windows/doors locked.
Seriously though, market still looks a little shaky... although I'm guessing today will end broadly flat.
VIX daily cycle though is still arguing for 20s... and that will equate to sp'2020s... but more viable... next Mon/Tuesday.
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notable early movers
Nordstrom (JWN) -21%.. after lousy earnings
Cisco Systems (CSCO) -5.9%.... post earnings upset
BAC -1.1%. as threat of rate hike lessens.
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Update from Oscar
I have followed Oscar since late 2008, and I certainly do respect his view. His comments in this video are somewhat spooky.
*the US market achieved a VERY powerful close last month, above the key 10MA. Yet... other world markets are yet to achieve that.
Certainly, I want to see NEW highs before year end in some indexes (Dow, sp, Nasdaq), along with other world markets also closing above their respective 10MAs. If not.... its a very serious problem.
For now.... I'm still guessing we battle broadly upward... helped by low rates and continuing QE (such as from the ECB and BoJ).
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Doomer chat with Hunter
I'll periodically slate Hunter for going soft on the Gold bugs (like the recent Hemke interview), but his end week news roundups are pretty good.
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Overnight Asia action
Japan: -0.5% @ 19596... a little weak into the weekend
China: -1.4% @ 3580. It will be VERY important for the Shanghai comp' to hold the 3400s.
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Have a good Friday.
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8.31am.. retail sales, m/m +0.1%.... weak.
PPI, -0.4%... pretty sig', not great for the macro-bulls.
Its not inspiring those seeking a rate hike.... BAC -1.4%