More global market on the ropes.

Tuesday, September 30, 9:25 a.m.

Hong Kong is another of the global markets that were making new highs with the S&P 500 that have taken a punch from political unrest.

It has plunged 10% in the last couple of weeks, giving back all of its gains for the year so far.

093014f

Brazil is another with political and social issue problems that was tracking with the U.S. to new highs, but has suddenly plunged 11%.

 093014g

Steven Halpern interview! 

Steven Halpern interviewed me on an interesting subject for MoneyShow.com which is on its website this morning. To hear the interview, click here:

http://moneyshow.com/articles.asp?aid=DailyGuru-41074

To read my weekend newspaper column click here:  U.S. and Global Confidence are in Divergence – So Are the Markets

To subscribe to streetsmart click here:https://streetsmart.securesites.net/order.html

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there will be an in-depth Markets Signals Update (stock, bonds, gold) tomorrow in your secure area of the Street Smart Report website.

Yesterday in the U.S. Market. 

A volatile day, with the Dow down 180 points in the first few minutes but then recovering in choppy action the rest of the day to close down only 41 points. The rest of the market indexes followed a similar pattern, down sharply at the open and then recovering during the day.  Volume was average, just over 0.6 billion shares traded on the NYSE.

The Dow closed down 41 points, or 0.3%. The S&P 500 closed down 0.3%, at 1,977. The NYSE Composite closed down 0.5%. The Nasdaq closed down 0.1%. The Nasdaq 100 closed down 0.2%. The Russell 2000 closed down 0.1%. The DJ Transportation Avg. closed up 0.2%. The DJ Utilities Avg closed up 0.5%.

Gold closed up $1 an ounce at $1,218 an ounce.

The U.S. dollar etf UUP closed down 0.1%.

Bonds (TLT) closed up 0.8%.

European Markets closed down again yesterday.

The Europe Dow closed down 0.7%.

The London FTSE closed down 0.1%. The German DAX closed down 0.7%. France’s CAC closed down 0.8%. Belgium closed down 0.3%. Denmark closed down 0.3%. Finland closed down 0.5%. Greece plunged 3.0%.  Ireland closed down 0.2%. Italy closed down 1.3%. Netherlands closed down 0.1%. Norway closed up 0.1%. Portugal closed down 0.2%. Spain closed down 1.5%. Switzerland closed up 0.1%.

Asian Markets mostly closed down last night.

The Asia Dow closed down 0.6%.

Australia closed up 0.5%. China closed up 0.3%. Hong Kong closed down 1.3%. India closed up 0.1%. Indonesia closed down 0.1%. Japan closed down 0.8%. Malaysia closed up 0.1%. New Zealand closed down 0.1%. South Korea closed down 0.3%. Singapore closed down 0.4%. Taiwan closed up 0.1%. Thailand closed unchanged.

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Markets This Morning:

European markets are up for a change this morning.

The Europe Dow is down 0.2%. But among individual countries:

The London FTSE is down 0.4%. The German DAX is up 0.2%. France’s CAC is up 1.0%. Belgium is up 0.5%. Denmark is down 0.1%. Finland is up 0.2%. Greece is up 0.3%. Ireland is up 1.3%. Italy is up 1.2%. Netherlands is up 0.7%. Norway is up 0.4%. Portugal is up 0.9%. Spain is up 1.0%. Switzerland is up 0.5%.

This Morning in the U.S. Market:

Oil is down $.43 a barrel, at $94.14

Gold is down $6 at $1,212 an ounce.

This week’s Economic Reports:

This week will be an active one for U.S. economic reports, including Pending Home Sales, Consumer Confidence, auto sales, the ISM Mfg Index, the ADP jobs report for September, Factory Orders, the Labor Department’s Employment Report, etc. To see the full list and times click here, and look at the left side of the page it takes you to.

Yesterday’s reports were that Consumer Incomes were up 0.3% in August, while Consumer Spending jumped 0.5%. And Pending Home Sales fell 1.0% in August, another disappointing report from the housing industry. But the Dallas Fed Mfg Index improved from 6.8 I August to 10.8 in September.

This morning’s report so far was that the Case-Shiller Home Price Index shows home prices were up another 0.6% in July. Still to come are the Chicago PMI Index at 9:45 am, and Consumer Confidence at 10 a.m.

The pre-open indicators have been positive all morning but softening.

Our Pre-open Indicators:

Our pre-open indicators are pointing to the Dow being up 25 points or so in the early going.

I’ll be back with the next post on Thursday morning at 9:25 a.m.

To read my weekend newspaper column click here:  U.S. and Global Confidence are in Divergence – So Are the Markets

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there will be an in-depth Markets Signals Update (stock, bonds, gold) tomorrow in your secure area of the Street Smart Report website.

Non-Subscribers:

If you haven’t done so yet, check out our new bull market/bear market indicator (BBMI) by clicking here: Market Timing Strategy

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**** End of Today’s post*****

Will the real U.S. market please reveal itself?

Saturday, September 27, 12 noon.

Is it the small stock Russell 2000, in a pattern of rally attempts failing at lower highs since its March peak, bringing out scary references to ‘death crosses’ and so forth?

092714l

Or the NYSE Composite? It also saw its rally off the short-term oversold condition fail at a lower high, and pulled back to break below the short-term support at its 50-day m.a. again. 

092714m

Or is it better represented by the Dow and S&P 500, less than 1% from their all-time highs, and bouncing again off the potential support at their 50-day moving averages?

092714k

There is no shortage of opinions, ranging from predictions of another surge up to carry the S&P 500 to 2,250, or just an overdue 15% correction, to a serious bear market, even a sudden crash.

The importance of getting it right is haunted by the picture of global markets where for instance, the VanGuard All-World EX-U.S. fund has not only broken below its short-term 50-day m.a., and its intermediate-term 20-week m.a., but below its long-term 200-day m.a.

092714h

I doubt that the next direction can be determined by analysis of the fundamentals, or trying to determine from the wording of Fed statements what its next action will be. At times when there are so many contradictions, it’s usually technical indicators measuring money flow and momentum direction continuations, or reversals, that cut through the confusion.

Other Voices:

Doug Kass, President, Seabreeze Partners: “Sell into any strength. My theme for the balance of the year is to err on the side of conservatism.”

Bill Stone, chief investment strategist, PNC Wealth Management: “Investors are concerned about how much more economic pain is to come in Europe and Japan.”

Dennis Davitt, portfolio manager, Harvest Volatility Advisors: The smartest investors are buying stocks and buying insurance [put options] with them.”

Joe McNay, chief investment officer, Essex Investment Management (quoted from Barron’s interview): “The Federal Reserve appears to be leaving interest rates where they are, and that’s positive. Growth may be slow in the U.S., but it is positive on a relative basis and outstanding when compared with the European countries.”

Short-term patterns.

Another short-term pattern worked out. After the typical positive quadruple-witching expirations week, the market was down this week in the typically negative week after the options week.

The next short-term pattern is the ‘monthly strength period’, due to begin Monday and to run through Monday of the following week. And this time it’s coupled with usually positive end-of-quarter ‘window-dressing’ by mutual funds, and will encompass the Labor Department’s monthly employment report, which always manages to create volatility.

To read my weekend newspaper column click here:  U.S. and Global Confidence are in Divergence – So Are the Markets

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there is an in-depth ‘Mid-Week Markets Signals Update’ (Stock market, gold, bonds) from Wednesday in your secure area of the Street Smart Report website.

Non-Subscribers:

Check out our new bull market/bear market indicator (BBMI) by clicking here: Market Timing Strategy !

U.S. market yesterday.

A big bounce-back rally from the open. Some give-back in last hour, but the Dow closed up 167 points. Volume was just average at 0.6 billion shares trade on the NYSE.

The Dow closed up 167 points, or 1.0%. The S&P 500 closed up 0.9% at 1,982. The NYSE Composite closed up 0.7%. The Nasdaq closed up 1.0%. The Nasdaq 100 closed up 1.1%. The Russell 2000 closed up 0.8%. The DJ Transportation Avg. closed up 1.2%. The DJ Utilities Avg closed up 0.4%.

Gold closed down $6 an ounce at $1,217 an ounce.

The U.S. dollar etf UUP closed up 0.6%.

Bonds (TLT) closed down 0.2%.

Asian markets mostly closed down in their last session of the week.

The Asia Dow closed down 1.0%. Among individual countries:

Australia closed down 1.2%. China closed up 0.2%. Hong Kong closed down 0.4%. India closed up 0.6%. Indonesia closed down 1.3%. Japan closed down 1.0%. Malaysia closed down 0.2%. New Zealand closed down 0.5%. South Korea closed down 0.1%. Singapore closed up 0.1%. Taiwan closed down 0.1%. Thailand closed up 0.5%.

European markets closed mixed yesterday.

The Europe Dow closed down 0.3%.

The London FTSE closed up 0.2%. The German DAX closed down 0.2%. France’s CAC closed up 0.9%. Belgium closed up 0.3%. Denmark closed up 0.7%. Finland closed up 0.1%. Greece closed down 0.1%. Ireland closed unchanged. Italy closed up 1.9%. Netherlands closed up 0.3%. Norway closed up 0.3%. Portugal closed up 0.7%. Spain closed up 0.6%. Switzerland closed up 0.1%.

Global markets for the week. 

A negative week pretty much everywhere. Global declines mostly more than U.S. China about the only winner, closing at a new high.

THIS WEEK (Sept. 26)
DJIA 17,113 -1.0%
S&P 500 1,982 -1.4%
NYSE 10798 -1.7%
NASDAQ 4512 -1.5%
NASD 100 4053 -1.2%
Russ 2000 1119 -2.4%
DJTransprts 8484 -1.7%
DJ Utilities 548 -1.6%
XOI Oils 1,583 -2.2%
Gold bull. 1,217 +0.1%
GoldStcks 83.92 -3.5%
Canada 15026 -1.6%
London 6649 -2.8%
Germany 9490 -3.2%
France 4394 -1.5%
Hong Kong 23,678 -2.6%
Japan 16229 -0.6%
Australia 5316 -2.2%
S. Korea 2031 -1.1%
India 26626 -1.7%
Indonesia 5132 -1.8%
Brazil 57201 -1.0%
Mexico 44884 -1.9%
China 2457 +0.8%
LAST WEEK (Sept. 19)
DJIA 17,279 +1.7%
S&P 500 2,010 +1.3%
NYSE 10989 +0.7%
NASDAQ 4579 +0.3%
NASD 100 4100 +0.8%
Russ 2000 1146 -1.2%
DJTransprts 8633 +1.0%
DJ Utilities 557 +1.3%
XOI Oils 1,618 +1.0%
Gold bull. 1,216 -1.1%
GoldStcks 86.93 -5.2%
Canada 15265 -1.7%
London 6837 +0.5%
Germany 9799 +1.5%
France 4461 +0.5%
Hong Kong 24306 -1.2%
Japan 16321 +2.3%
Australia 5437 -1.7%
S. Korea 2053 +0.6%
India 27090 +0.1%
Indonesia 5227 +1.6%
Brazil 57788 +1.4%
Mexico 45761 -0.1%
China 2438 -0.1%
PREVIOUS WEEK (Sept. 12)
DJIA 16987 -0.9%
S&P 500 1,985 - 1.1%
NYSE 10911 -1.5%
NASDAQ 4567 -0.3%
NASD 100 4069 -0.5%
Russ 2000 1160 -0.9%
DJTransprts 8552 -0.6%
DJ Utilities 550 -3.3%
XOI Oils 1,602 -4.0%
Gold bull. 1,230 -3.0%
GoldStcks 91.66 -3.8%
Canada 15531 -0.2%
London 6806 -0.7%
Germany 9651 -1.0%
France 4441 -1.0%
Hong Kong 24595 -2.6%
Japan 15948 +1.8%
Australia 5532 -1.2%
S. Korea 2041 -0.4%
India 27061 +0.1%
Indonesia 5143 -1.4%
Brazil 56927 -6.2%
Mexico 45799 -0.9%
China 2441 +0.3%

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NOTE: To gain access subscribe online click here: https://streetsmart.securesites.net/order.html or call our subscription office at 1-386-943-4081 (week-days only). If you can afford two cups of coffee a week you can afford the cost of 25.95 a month ($6.50 a week). For that you also receive the full Street Smart Report advisory service (newsletter, hotlines, in depth mid-week reports on stocks, gold ,bonds, etc.).

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Next week’s Economic Reports:

Next week will be an active one for U.S. economic reports, including Pending Home Sales, Consumer Confidence, auto sales, the ISM Mfg Index, the ADP jobs report for September, Factory Orders, the Labor Department’s Employment Report, etc. To see the full list and times click here, and look at the left side of the page it takes you to.

To read my weekend newspaper column click here:  U.S. and Global Confidence are in Divergence – So Are the Markets

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there is an in-depth ‘Mid-Week Markets Signals Update’ (Stock market, gold, bonds) from Wednesday in your secure area of the Street Smart Report website.

I’ll be back with the next blog post Tuesday morning at 9:25 a.m.

Non-Subscribers:

SUBSCRIBE NOW! To get all of this:

(The equivalent of four or five normal newsletters at the cost of one)

  • Access to Premium Content area of this Blog, Tuesday, Thursday, and Saturday a.m.
  • A 6-page Mid-Week Markets Report every week.
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  • A 4 to 6 page Global Market Report every three weeks.
  • The 8-page Street Smart Report newsletter every 3 weeks.
  • Hotline Updates whenever signals or recommendations change.
  • Two specific portfolios (Seasonal Timing & Technical Analysis Timing)
  • Sy’s weekly column on markets and the economy every Friday.

Market, sector, stock, gold, bond, and dollar buy and sell signals, short-sales, long-side and ‘inverse’ etf’s, mutual funds. Highly regarded and in our 26th year. As a bonus for a one-year subscription you will also receive my latest book Beat the Market the Easy Way- Proven Seasonal Strategies That Double the Market’s Performance. Click here for subscription information.

This blog appears every Tuesday, Thursday, and Saturday morning and at occasional times in between! Follow it via the RSS feed or follow it in Twitter (the ‘handle’ is @streetsmartpost) so you won’t miss any posts.

**** End of Today’s post*****

Struggling housing sector has some positives.

Thursday, September 25, 9:30 a.m.

The housing industry continues to be a problem for the Fed’s hopes that the economy is strong enough to withstand the removal of QE stimulus, and its plan to begin raising interest rates next year.

Existing home sales fell 1.8% in August for the first time in five months, and at a lower high, versus the consensus forecast that they would be up 1.0%.

clip_image002

New housing starts plunged 14.4% in August, and permits for future starts fell 5.6%.

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And mortgage applications fell again last week, and are now down 16% from a year ago.

But yesterday it was reported that new home sales surged up 18.5% in August.

And this morning CoreLogic reported that the number of homeowners underwater on their mortgages continues to decline, as many got out from under by selling at a loss, and others recovered thanks to rising home prices.

As a result there were 946,000 fewer underwater mortgages in the second quarter, the largest quarterly decline since the 2nd quarter of 2013.

It leaves only 10.7% of mortgaged property still underwater, or about 5.31 million households.

The disappointing news is that it may take longer for properties still underwater to recover since the rate of home price rises has cooled off significantly, the FHFA reporting Tuesday that its Home Price Index rose only 0.1% in July.

But still, new home sales up 18.5% and fewer homeowners underwater is good news amidst the troubling reports.  

To subscribe to streetsmart click here:https://streetsmart.securesites.net/order.html

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there is an in-depth Markets Signals Update (stock, bonds, gold) from yesterday in your secure area of the Street Smart Report website.

Yesterday in the U.S. Market. 

A very positive day. The Dow was down 22 points at its low, started rising and kept going,  closing up 154 points, or 0.9%. Volume was just above 0.7 billion shares traded on the NYSE.

The Dow closed up 154 points, or 0.9%. The S&P 500 closed up 0.8% at 1,998. The NYSE Composite closed up 0.7%. The Nasdaq closed up 1.0%. The Nasdaq 100 closed up 1.0%. The Russell 2000 closed up 0.9%. The DJ Transportation Avg. closed up 0.7%. The DJ Utilities Avg closed down 0.2%.

Gold closed down $4 an ounce at $1,219.

The U.S. dollar etf UUP closed up 0.4%.

Bonds (TLT) closed down 0.6%.

European Markets closed up yesterday.

The Europe Dow closed up 0.5%.

The London FTSE closed up 0.4%. The German DAX closed up 0.7%. France’s CAC closed up 1.2%. Belgium closed up 0.6%. Denmark closed down 0.3%. Finland closed up 0.4%. Greece closed up 0.2%.  Ireland closed up 0.1%. Italy closed up 1.7%. Netherlands closed up 0.6%. Norway closed up 0.1%. Portugal closed down 0.8%. Spain closed up 0.5%. Switzerland closed up 0.4%.

Asian Markets mostly closed down last night.

The Asia Dow closed down 0.3%.

Australia closed up 0.1%. China closed up 0.1%. Hong Kong closed down 0.6%. India closed down 1.0%. Indonesia closed up 0.5%. Japan closed up 1.5%. Malaysia closed up 0.2%. New Zealand closed up 0.4%. South Korea closed down 0.3%. Singapore closed down 0.1%. Taiwan closed down 1.0%. Thailand closed unchanged.

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Markets This Morning:

European markets are mixed to down this morning.

The Europe Dow is down 0.9%. Among individual countries:

The London FTSE is down 0.4%. The German DAX is down 0.1%. France’s CAC is down 0.2%. Belgium is up 0.3%. Denmark is up 0.8%. Finland is up 0.6%. Greece is down 1.1%. Ireland is up 0.5%. Italy is down 0.8%. Netherlands is down 0.2%. Norway is down 0.1%. Portugal is up 0.1%. Spain is up 0.1%. Switzerland is up 0.1%.

This Morning in the U.S. Market:

Oil is up $.41 a barrel, at $93.21.

Gold is down $10 an ounce at $1,209 an ounce.

This week’s Economic Reports:

This week will be an active one for U.S. economic reports, including Existing Home Sales, New Home Sales, Durable Goods Orders, the next revision to 2nd qtr GDP, etc. To see the full list and times click here, and look at the left side of the page it takes you to.

Monday’s reports were that the Fed’s National Activity Index (CFNAI) plunged into negative territory in August, dropping from +0.26 in July to –0.21 in August. The three-month moving average fell from +0.20 in July to +0.07. The biggest drag came from manufacturing. And Existing Home Sales fell 1.8% in August, versus the consensus forecast that they would be up 1.0%.

Tuesday’s reports were; the FHFA Home Price Index showed home prices were up 0.1% in July. The U.S. PMI Mfg Index remained flat, unchanged at 57.9 in September. And the Richmond Fed Mfg Index improved from 12 in August to 14 in September.

Yesterday’s report was that New Home Sales surged up 18% in August.

This morning’s reports are that new weekly unemployment claims were up some last week, by 12,000, to 293,000. The four-week m.a. fell by 1,250 to 298,500. And Durable Goods Orders plunged 18.2% in August, a record size monthly plunge. But that comes after the record 22.5% record gain in July. And as with the July gain, the August decline was entirely due to aircraft orders. Stripping out the drop in aircraft orders, core durable goods orders were up 0.7%. Still to come is the PMI Services Index, which will be released at 9:45 am.

The pre-open indicators have been hovering around unchanged, but weakened some after the economic reports.

Our Pre-open Indicators:

Our pre-open indicators are pointing to the Dow being down 15 points or so in the early going.

I’ll be back with the next post on Saturday morning, as usual later than on the weekdays, probably around 12 noon.

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there will be an in-depth Markets Signals Update (stock, bonds, gold) tomorrow in your secure area of the Street Smart Report website.

Non-Subscribers:

If you haven’t done so yet, check out our new bull market/bear market indicator (BBMI) by clicking here: Market Timing Strategy

SUBSCRIBE NOW! To get all of this:

(The equivalent of four or five normal newsletters at the cost of one)

  • Access to Premium Content area of this Blog, Tuesday, Thursday, and Saturday a.m.
  • A 6-page Mid-Week Markets Report every week.
  • A 4 to 6 page Gold, Bonds, U.S. Dollar Report every three weeks.
  • A 4 to 6 page Global Market Report every three weeks.
  • The 8-page Street Smart Report newsletter every 3 weeks.
  • Hotline Updates whenever signals or recommendations change.
  • Two specific portfolios (Seasonal Timing & Technical Analysis Timing)
  • Sy’s weekly column on markets and the economy every Friday.

Market, sector, stock, gold, bond, and dollar buy and sell signals, short-sales, long-side and ‘inverse’ etf’s, mutual funds. Highly regarded and in our 26th year. As a bonus for a one-year subscription you will also receive my latest book Beat the Market the Easy Way- Proven Seasonal Strategies That Double the Market’s Performance. Click here for subscription information.

This blog appears every Tuesday, Thursday, and Saturday morning!

**** End of Today’s post*****

A divergent market.

Tuesday, September 23, 9:35 a.m.

The blue chips of the Dow and S&P 500 are within a fraction of new highs.

092314g

The small stocks are in a divergent correction.

092314b

Will the generals determine which way the market marches or will the troops lead the generals in retreat?

To subscribe to streetsmart click here:https://streetsmart.securesites.net/order.html

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there will be an in-depth Markets Signals Update (stock, bonds, gold) tomorrow in your secure area of the Street Smart Report website.

Yesterday in the U.S. Market. 

A down day on somewhat elevated volume. The Dow closed down 107 points, or 0.6%. Volume was almost 0.7 billion shares traded on the NYSE. But once again the main negative was market breadth. There were only 510 stocks up on the NYSE, and 2,565 down, five times as many, considerably worse than a Dow down only 0.6%. Breadth was four to one negative on the Nasdaq.

The Dow closed down 107 points, or 0.6%. The S&P 500 closed down 0.8%, at 1,984. The NYSE Composite closed down 0.9%. The Nasdaq closed down 1.1%. The Nasdaq 100 closed down 1.0%. The Russell 2000 closed down 1.5%. The DJ Transportation Avg. closed down 1.4%. The DJ Utilities Avg closed down 0.8%.

Gold closed unchanged at $1,216 an ounce.

The U.S. dollar etf UUP closed down 0.1%.

Bonds (TLT) closed up 0.1%.

European Markets closed down yesterday.

The Europe Dow closed down 0.9%.

The London FTSE closed down 0.9%. The German DAX closed down 0.5%. France’s CAC closed down 0.4%. Belgium closed unchanged. Denmark closed down 0.1%. Finland closed down 0.1%. Greece closed down 1.4%.  Ireland closed down 0.1%. Italy closed down 1.4%. Netherlands closed down 0.9%. Norway closed down 0.3%. Portugal closed down 0.4%. Spain closed down 0.5%. Switzerland closed down 0.3%.

Asian Markets closed mixed last night.

The Asia Dow closed down 0.5%.

Australia closed up 0.9%. China closed up 0.9%. Hong Kong closed down 0.5%. India closed down 1.6%. Indonesia closed down 0.6%. Japan closed down 0.7%. Malaysia closed down 0.3%. New Zealand closed up 0.1%. South Korea closed down 0.5%. Singapore closed up 0.1%. Taiwan closed down 0.5%. Thailand closed up 0.1%.

Subscribers Premium Content Area.

For Street Smart Report subscribers only, used to provide additional info to that provided in the newsletter, mid-week reports, and hotlines.

NOTE: To gain access call our subscription office at 1-386-943-4081 (week-days only). If you can afford two cups of coffee a week you can afford the cost of 25.95 a month ($6.50 a week). For that you also receive the full Street Smart Report advisory service (newsletter, hotlines, in depth mid-week reports on stocks, gold ,bonds, etc.). Or to subscribe online click here:https://streetsmart.securesites.net/order.html


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Markets This Morning:

European markets are down again this morning.

The Europe Dow is down 0.8%. Among individual countries:

The London FTSE is down 1.4%. The German DAX is down 1.4%. France’s CAC is down 1.9%. Belgium is down 1.2%. Denmark is down 1.1%. Finland is down 0.6%. Greece is down 1.7%. Ireland is down 1.2%. Italy is down 1.5%. Netherlands is down 0.9%. Norway is down 1.0%. Portugal is down 1.4%. Spain is down 1.4%. Switzerland is down 0.7%.

This Morning in the U.S. Market:

Oil is up $.22 a barrel, at $91.09

Gold is up $10 at $1,228 an ounce.

This week’s Economic Reports:

This week will be an active one for U.S. economic reports, including Existing Home Sales, New Home Sales, Durable Goods Orders, the next revision to 2nd qtr GDP, etc. To see the full list and times click here, and look at the left side of the page it takes you to.

Monday’s reports were that the Fed’s National Activity Index (CFNAI) plunged into negative territory in August, dropping from +0.26 in July to –0.21 in August. The three-month moving average fell from +0.20 in July to +0.07. The biggest drag came from manufacturing. And Existing Home Sales fell 1.8% in August, versus the consensus forecast that they would be up 1.0%.

This morning’s report was that the FHFA Home Price Index showed home prices were up 0.1% in July.

Still to come are the PMI Mfg Index at 9:45 a,m., and the Richmond Fed Mfg Index at 10 a.m.

The pre-open indicators have been weakening all morning.

Our Pre-open Indicators:

Our pre-open indicators are pointing to the Dow being down 50 points or so in the early going.

I’ll be back with the next post on Thursday morning at 9:25 a.m.

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there will be an in-depth Markets Signals Update (stock, bonds, gold) tomorrow in your secure area of the Street Smart Report website.

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If you haven’t done so yet, check out our new bull market/bear market indicator (BBMI) by clicking here: Market Timing Strategy

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Headlines say there is nothing to worry about.

Saturday, September 20, 12 noon.

It’s not just investors and newsletter writers that have no concerns, their bullish sentiment at very high readings. The financial media seems to have the same confidence if this morning’s headlines are any indication.

From Barron’s:

‘Bank of America Could Rise 50% or More’

‘Genworth Shares Could Surge 80%’

‘Finding Value in Developed Markets’

‘How to Get Shares in Hot IPO’s’

‘Finding Attractive Stocks Amid Europe’s Malaise’

From MarketWatch:

‘Why Energy Stocks are Set For a Second Rally.’

‘Sony Worth More Than the Market Realizes’

Still looking, but nothing negative so far. Just reasons to buy.

The bears seem to have backed away, not willing to have their views exposed to the ridicule of those that know the market can only move ever higher.

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the latest issue of the newsletter from Wednesday in your secure area of the Street Smart Report website.

Non-Subscribers:

Check out our new bull market/bear market indicator (BBMI) by clicking here: Market Timing Strategy !

U.S. market yesterday.

A spike up at the open on the Alibaba excitement, and then a sell-off reversal to a mixed and mostly negative close. The Dow was up 85 points in the first minutes, sold off to fractionally negative before they rallied it back to close up 13 points, less than 0.1% going into the weekend. The rest of the market reversed from positive into negative territory. Typical of a quadruple-witching expirations day, volume was very heavy at 1.8 billion shares traded, most of it in the first few minutes of the day, and the last few minutes.

The Dow closed up 13 points, or 0.1%. The S&P 500 closed down 0.1%. The NYSE Composite closed down 0.3%. The Nasdaq closed down 0.3%. The Nasdaq 100 closed down 0.1%. The Russell 2000 closed down 1.1%. The DJ Transportation Avg. closed down 0.5%. The DJ Utilities Avg closed up 0.7%.

Gold closed down $9 an ounce at $1,216 an ounce.

The U.S. dollar etf UUP closed up 0.5%.

Asian markets closed up in their last session of the week.

Australia closed up 0.3%. China closed up 0.6%. Hong Kong closed up 0.6%. India closed down 0.1%. Indonesia closed up 0.4%. Japan closed up 1.6%. Malaysia closed up 0.5%. New Zealand closed up 0.5%. South Korea closed up 0.3%. Singapore closed up 0.2%. Taiwan closed up 0.1%. Thailand closed up 0.1%.

European markets closed mixed yesterday.

The Europe Dow closed down 0.6%.

The London FTSE closed up 0.3%. The German DAX closed unchanged. France’s CAC closed down 0.1%. Belgium closed up 0.4%. Denmark closed up 0.4%. Finland closed up 1.1%. Greece closed up 3.7%. Ireland closed down 1.0%. Italy closed down 0.7%. Netherlands closed up 0.9%. Norway closed down 0.1%. Portugal closed up 0.1%. Spain closed up 0.1%. Switzerland closed up 0.1%.

Global markets for the week. 

A mixed week but positive in the majority of markets. Another bad week for gold.

THIS WEEK (Sept. 19)
DJIA 17,279 +1.7%
S&P 500 2,010 +1.3%
NYSE 10989 +0.7%
NASDAQ 4579 +0.3%
NASD 100 4100 +0.8%
Russ 2000 1146 -1.2%
DJTransprts 8633 +1.0%
DJ Utilities 557 +1.3%
XOI Oils 1,618 +1.0%
Gold bull. 1,216 -1.1%
GoldStcks 86.93 -5.2%
Canada 15265 -1.7%
London 6837 +0.5%
Germany 9799 +1.5%
France 4461 +0.5%
Hong Kong 24306 -1.2%
Japan 16321 +2.3%
Australia 5437 -1.7%
S. Korea 2053 +0.6%
India 27090 +0.1%
Indonesia 5227 +1.6%
Brazil 57788 +1.4%
Mexico 45761 -0.1%
China 2438 -0.1%
LAST WEEK (Sept. 12)
DJIA 16987 -0.9%
S&P 500 1,985 - 1.1%
NYSE 10911 -1.5%
NASDAQ 4567 -0.3%
NASD 100 4069 -0.5%
Russ 2000 1160 -0.9%
DJTransprts 8552 -0.6%
DJ Utilities 550 -3.3%
XOI Oils 1,602 -4.0%
Gold bull. 1,230 -3.0%
GoldStcks 91.66 -3.8%
Canada 15531 -0.2%
London 6806 -0.7%
Germany 9651 -1.0%
France 4441 -1.0%
Hong Kong 24595 -2.6%
Japan 15948 +1.8%
Australia 5532 -1.2%
S. Korea 2041 -0.4%
India 27061 +0.1%
Indonesia 5143 -1.4%
Brazil 56927 -6.2%
Mexico 45799 -0.9%
China 2441 +0.3%
PREVIOUS WEEK (Sept. 5)
DJIA 17,137 +0.6%
S&P 500 2006 + 0.8%
NYSE 11073 +0.9%
NASDAQ 4582 +0.9%
NASD 100 4089 +0.7%
Russ 2000 1170 +1.2%
DJTransprts 8601 -0.3%
DJ Utilities 568 +1.6%
XOI Oils 1,689 +2.0%
Gold bull. 1,287 +0.6%
GoldStcks 102.27 +2.8%
Canada 15625 +0.6%
London 6855 +0.7%
Germany 9747 +1.4%
France 4486 +3.0%
Hong Kong 25240 -1.5%
Japan 15668 -0.7%
Australia 5664 -0.3%
S. Korea 2049 +0.6%
India 26387 +0.8%
Indonesia 5136 -1.2%
Brazil 66681 +4.9%
Mexico 45928 +0.6%
China 2320 -1.1%

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Next week’s Economic Reports:

Next week will be an active one for U.S. economic reports, including the Existing Home Sales, New Home Sales, Durable Goods Orders, the next revision to 2nd qtr GDP, etc. To see the full list and times click here, and look at the left side of the page it takes you to.

To read my weekend newspaper column click here: Can the Economy Withstand Another Housing Breakdown

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the latest issue of the newsletter from Wednesday in your secure area of the Street Smart Report website.

I’ll be back with the next blog post Tuesday morning at 9:25 a.m.

Non-Subscribers:

SUBSCRIBE NOW! To get all of this:

(The equivalent of four or five normal newsletters at the cost of one)

  • Access to Premium Content area of this Blog, Tuesday, Thursday, and Saturday a.m.
  • A 6-page Mid-Week Markets Report every week.
  • A 4 to 6 page Gold, Bonds, U.S. Dollar Report every three weeks.
  • A 4 to 6 page Global Market Report every three weeks.
  • The 8-page Street Smart Report newsletter every 3 weeks.
  • Hotline Updates whenever signals or recommendations change.
  • Two specific portfolios (Seasonal Timing & Technical Analysis Timing)
  • Sy’s weekly column on markets and the economy every Friday.

Market, sector, stock, gold, bond, and dollar buy and sell signals, short-sales, long-side and ‘inverse’ etf’s, mutual funds. Highly regarded and in our 26th year. As a bonus for a one-year subscription you will also receive my latest book Beat the Market the Easy Way- Proven Seasonal Strategies That Double the Market’s Performance. Click here for subscription information.

This blog appears every Tuesday, Thursday, and Saturday morning and at occasional times in between! Follow it via the RSS feed or follow it in Twitter (the ‘handle’ is @streetsmartpost) so you won’t miss any posts.

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