Charts I’m Watching: Oct 15, 2019

It was a mixed morning for banks.  JPM beat on the top and bottom line due primarily to fixed income, currencies and commodities.  But, Jamie Dimon sounded downbeat, referring to “weakening business sentiment and capital expenditures mostly driven by increasingly complex geopolitical risks, including tensions in global trade.” GS and WFC both missed on the … continue reading →

Sell the Rumor?

Once again, we reach an upper target for our analog without having tagged the downside target. It’s not that there weren’t opportunities. But, the cheerleading has been loud and long, with winks and nods over the last 12 hours as to how well both the Brexit and China trade deal negotiations are going. Then, of … continue reading →

Market in Maintenance Mode

The market remains in maintenance mode — meaning only positive headlines are permitted to register. Futures plunged 48 points from yesterday’s highs on news from the South China Morning Post that talks weren’t going well and the Chinese delegation would be leaving Thursday. They rebounded on a CNBC report that talks would continue through Friday.  … continue reading →

Seen This Movie Before

Another day, another China trade deal rally. Futures are up about 21 points but the ramp job really started shortly after 7pm last night and peaked on “news” of a supposedly more conciliatory attitude on the part of the Chinese. Wasn’t it Trump who wasn’t previously open to a “partial deal?” continued for members… … continue reading →

Rolling Over

Futures were already off 20+ points even before the big miss in PPI: -0.3% vs +0.1% expected.  This is the worst print since Sep 2015.The YoY picture continues to look bleak, with PPI and Core continuing to roll over. It’s an excellent metaphor for the overall market — which makes me wonder when the next … continue reading →

Saved by the Bell

Members and lurkers…I’m going to take a break from accepting new members beginning this weekend.  Monthly and quarterly subscriptions are available HERE.  Those who wish to convert to an annual membership at a discount (a year for the price of 3 quarters, a $399 savings) should CONTACT ME directly.   *  *  * ES came … continue reading →

Why Worry Now?

Members and lurkers…I’m going to take a break from accepting new members beginning this weekend.  Monthly and quarterly subscriptions are available HERE.  Those who wish to convert to an annual membership at a discount (a year for the price of 3 quarters, a $399 savings) should CONTACT ME directly.  *  *  * Why worry? There … continue reading →