Trend Analyzer – 12/17/18 – Few Positives

Following Friday’s steep declines, our Trend Analyzer shows that every major index ETF is now oversold just like they were at this time last week.  Some of these, such as the Russell 2000 (IWM) and Core S&P Small-Cap (IJR), are deeply oversold.  Losses from last week also eliminated … [Read More...]

This Week’s Economic Indicators – 12/17/18

Last week’s economic data came in somewhat disappointing with a little less than half of the 30 releases below estimates or the previous period’s reading.  JOLTS kicked off the week still strong and higher than the September reading, but below estimates.  Small business optimism saw a decline for November.  … [Read More...]

Jobless Claims Beat Estimates By 20K

After nearly two months of trending upwards, initial jobless claims fell dramatically this week to 206K versus last week’s 231K on a seasonally adjusted basis.  This low reading is only 4K off of the multi-decade low of 202K from mid-September, and at 40 year lows for all but … [Read More...]

Trend Analyzer – 12/14/18 – More of the Same

This morning our Trend Analyzer is largely unchanged as the major indices closed flat yesterday. Whereas headed into the end of last week most of the major index ETFs had moved out of oversold to neutral, this week only the Nasdaq (QQQ) has remained neutral. All other ETFs are oversold … [Read More...]

The Closer: End of Week Charts — 12/14/18

Looking for deeper insight on global markets and economics?  In tonight’s Closer sent to Bespoke clients, we recap weekly price action in major asset classes, update economic surprise index data for major economies, chart the weekly Commitment of Traders report from the CFTC, and provide our normal nightly update … [Read More...]

Twitter (TWTR) Takes Out Resistance

Social media giant Twitter (TWTR) has been on an absolute tear this week.  Since Monday’s open, the stock has risen over 12% as of this writing.  Half of this comes from today alone as the stock broke out above a key resistance level of $35/$36.  This has been … [Read More...]

Next Week’s Economic Indicators

It was a busy week in economic data with 33 releases out of the US.  Of these 33, only 10 beat estimates or the previous period’s reading while about half came in worse than expected.  Manufacturing data kicked this week off with Markit Manufacturing PMI coming in slightly below estimates and the ISM … [Read More...]

The Closer: End of Week Charts — 12/7/18

Looking for deeper insight on global markets and economics?  In tonight’s Closer sent to Bespoke clients, we recap weekly price action in major asset classes, update economic surprise index data for major economies, chart the weekly Commitment of Traders report from the CFTC, and provide our normal nightly update … [Read More...]