19 Mar
Pre-open eMini S&P 500 Morning Report for March 19, 2010
Posted in Pre-open Analysis by Bob English at 7:58:14 6 CommentsThe Precise Take – Equities maintaining amidst Dollar rally
Leaders Analysis: The US Dollar Index has surged further to strong trend line resistance, and the EuroYen is just barely holding on to support. Equities have held their ground, however, and for the same reason as yesterday (leaders at inflection points), the leaders are equities neutral.
Medium Term Analysis: Not much to add from previous days’ commentary. Equities are at highs, a bit overbought and today is opex. Next week is quiet until GDP on Friday. The Treasury auctions could depress equities a bit. Monday will be a big test. With no news, will traders…
Pre-open eMini SP 500 Morning Report 3.19.10 | Wall St. Cheat Sheet
on March 19 2010 at 08:01:24
[...] This is a guest post from Precision Capital Management [...]
spainconsultant
on March 19 2010 at 09:31:57
Low swinging this week seems to me, less than usual, much less than a opex week, weird. That´s in USA, Europe was more choppy. Lots or GIPSIS (my word for Greece, Italy, Portugal, Spain, Irland and So….im spanish and they really hate the acronim PIGS there) for next weeks I think . Here barring an afternoon sell-off or rally seems that bulls and bears settle and armistice this 2 last days.
Interesting your call for next week light news and treasury auctions. For the future, if traders are buying no more unemployment, no more employment news………what they´re going to do when jobs growth? Not easy answer for me
Have great weekend everybody
Thanks Bob
Bob English
on March 19 2010 at 09:37:16
How about the “Club Med States”? I expect April’s Employment Situation to be strongly positive and trend up for a few months, then head down later in the year. Should be in double dip recession some time in H2.
spainconsultant
on March 19 2010 at 09:56:30
That´s a great name Bob!. We spanish would love it we are 2nd tourist country in the world probably first as income % of GDP . Only but Club Med is a french conmpany, everybody loves France, but we spanish don´t love french……well nobody does
I also think good employment news are coming, crisis had a good point for USA….. so many envy and bad looks to you all world around, and suddenly everybody is hoping America economy growths again and you lead the way.
Strange think yesterday I was watching CNBC and one job trader was asked: if you buy these employment numbers and FED decisions based in no job no rate hike, with the economy not growing what are you going to do when the jobs growth?. Answer was I know better than buying stocks based in economy, it´s all about liquidity ……… when jobs growth I´ll sell of course It´s a weird world
sledbug
on March 19 2010 at 10:09:11
Bob what is H2?
Thanks
Bob English
on March 19 2010 at 10:11:19
Second half of year.