The Market
Technical
The indices (DJIA 13008, S&P 1379) meandered lower yesterday, but remained within their primary trends (1) short term trading ranges [12022-13302, 1266-1422] and (2) intermediate term uptrends [12075-17075, 1273-1853].
Volume improved but breadth declined. The VIX rose and remains above the lower boundary of its intermediate term trading range and within the developing head and shoulders.
GLD fell, but continues to trade above the lower boundary of its intermediate term trading range. This decline comes off the level of the last in a string of lower highs; hence the trend of downward bias continues.
Showing posts with label big four economic indicators. Show all posts
Showing posts with label big four economic indicators. Show all posts
Wednesday, August 01, 2012
Thursday, July 19, 2012
Morning Journal--The big four economic indicators
Economics
This Week’s Data
The Fed released its latest Beige Book; and the results are not unexpected nor different from anything Bernanke has been saying in his congressional testimony: retail spending is disappointing but manufacturing, housing, loan demand and sentiment are improving slowly. No hint of the need for QEIII.
Weekly jobless claims rose 36,000 versus estimates of up 15,000.
http://www.calculatedriskblog.com/2012/07/weekly-initial-unemployment-claims_19.html
This Week’s Data
The Fed released its latest Beige Book; and the results are not unexpected nor different from anything Bernanke has been saying in his congressional testimony: retail spending is disappointing but manufacturing, housing, loan demand and sentiment are improving slowly. No hint of the need for QEIII.
Weekly jobless claims rose 36,000 versus estimates of up 15,000.
http://www.calculatedriskblog.com/2012/07/weekly-initial-unemployment-claims_19.html
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