The FOMC minutes were not a game-changer either way.

Thursday, October 9, 9:25 a.m.

The market surged up yesterday, the Dow closing up 274 points, in reaction to the Fed’s release of the minutes of its mid-September FOMC meeting.

But were the minutes of any importance to the outlook of either bulls or bears?

At best, they changed nothing, confirming that the Fed will make its decision on when to begin raising rates based on the economy, not on any specific date target, or vague term like “for a considerable time”.

At worst, they revealed a Fed that is more uncertain and worried about the economy, the dollar, foreign markets, and the fragility of the stock market, than their official statement after that last FOMC meeting showed.

Their discussions revealed in the minutes indicated they are more concerned about weak economies overseas, and that disappointing growth in Europe, Japan, and China could negatively impact U.S. exports.

And additional dismal reports from overseas have come in since that last FOMC meeting.

The minutes also indicated they were worried about the strengthening dollar, that by reducing the cost of imported goods and services the strong dollar will keep inflation weak and not meeting the Fed’s target rate of 2%.

And the dollar has spiked up higher since that mid-September meeting.

 100814a

The minutes seemed to reveal that they wanted to remove the promise from their statement that they would keep interest rates low “for a considerable time’, but didn’t dare to for fear of spooking the market. That they left it in, which was taken as a positive by the market after that mid-September meeting, was apparently to mislead the market?

And the market took the release of those minutes as a big positive, worthy of a 274 point spike-up by the Dow?

I don’t think so.

What really caused the big market rally day? 

I bet the market would have rallied yesterday no matter what, no matter what reports might have come out, what events might have taken place, no matter what the Fed’s minutes revealed.

Because as we told our subscribers, it was short-term oversold again. Because the S&P 500 was down 3.8% and the NYSE Composite down 5.5%, and if Wall Street was going to be successful in convincing investors it would only be another 3% to 5% pullback and buying opportunity, they had to get in their and make a stand with substantial buying to squeeze the shorts.

Meanwhile, the big plunge of 272 points on Tuesday and bounce-back of 274 points yesterday has the market back exactly where it was Monday.

100914g

 

100914d

To read my weekend newspaper column, click here:   Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there is a hotline from last evening and the new issue of the newsletter from yesterday afternoon in your secure area of the Street Smart Report website.

Yesterday in the U.S. Market. 

Another volatile day, this time to the upside. The Dow was down 50 points, then up 50 points, then spiked up after the FOMC minutes to close up 274 points (exactly reversing the previous day’s decline of 272 points). Volume jumped to 0.9 billion shares traded on the NYSE.

The Dow closed up 274 points, or 1.6%. The S&P 500 closed up 1.7%. The NYSE Composite closed up 1.5%. The Nasdaq closed up 1.9%. The Nasdaq 100 closed up 2.1%. The Russell 2000 closed up 1.9%. The DJ Transportation Avg. closed up 0.9%. The DJ Utilities Avg closed up 2.3%.

Gold closed up $8 an ounce at $1,220 an ounce, on a pullback by the U.S. dollar.

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

Bonds (TLT) closed up 0.1%.

But European Markets closed down sharply again yesterday.

The Europe Dow closed down 0.5%.

The London FTSE closed down 0.2%. The German DAX down 1.0%. France’s CAC closed down 1.0%. Belgium closed down 0.7%. Denmark closed down 2.1%. Finland closed down 1.3%. Greece closed down 0.4%.  Ireland closed down 1.5%. Italy closed down 0.6%. Netherlands closed down 0.8%. Norway closed down 0.5%. Portugal closed down 2.0%. Spain closed down 0.9%. Switzerland closed down 0.5%.

Asian Markets followed the U.S. market higher last night.

The Asia Dow closed up 1.1%.

Australia closed up 1.0%. China closed up 0.3%. Hong Kong closed up 1.1%. India closed up 1.5%. Indonesia closed up 0.7%. Japan closed down 0.8%. Malaysia closed up 0.4%. New Zealand closed up 0.4%. Singapore closed up 1.0%. Taiwan closed up 0.1%. Thailand closed up 1.1%.

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


*Premium Content*

Please Login or Subscribe to view this content.

Markets This Morning:

European markets are mixed this morning.

The London FTSE is down 0.3%. The German DAX is up 0.3%. France’s CAC is down 0.3%. Belgium is up 0.1%. Denmark is up 0.3%. Finland is up 0.5%. Greece is up 1.0%. Ireland is down 0.2%. Italy is down 0.6%. Netherlands is up 0.1%. Norway is down 0.4%. Portugal is down 0.9%. Spain is down 0.4%. Switzerland is up 0.1%.

This Morning in the U.S. Market:

Oil is down $.72 a barrel, at $86.59

Gold is up $8 an ounce at $1,228 an ounce.

This week’s Economic Reports:

This week is a very quiet week for U.S. economic reports, not much except the minutes of the Fed’s last FOMC meeting, and weekly unemployment claims. To see the full list and times click here, and look at the left side of the page it takes you to.

There were no reports Monday.

Tuesday’s only report was the JOLTS report (The Labor Department’s Job Openings and Labor Turnover Survey), which showed an increase of available jobs from 4.61 million in July, to 4.84 million in August, another positive report for the jobs picture.

Yesterday’s only report was the Fed’s release of the minutes of its last FOMC meeting. The stock market, already positive, spiked significantly higher after the release.

This morning’s only report is that new weekly unemployment claims were unchanged last week at 287,000. The four-week m.a. declined by 7,250 to 287,750.

The pre-open indicators have been somewhat negative but worsening some.

Our Pre-open Indicators:

Our pre-open indicators are now pointing to the Dow being down 60 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:   Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, there is a hotline from last evening and the new issue of the newsletter from yesterday afternoon 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*****

European economies and markets cannot catch a break.

Tuesday, October 6, 9:25 a.m.

The economic news out of Europe continues to be dismal.

Germany’s economy, the largest in Europe, is not bouncing back as expected in the third quarter from its dismal showing in the first half of the year.

The 4% plunge in its industrial output in August was much worse than the consensus forecast of a 1.5% decline, and its sharpest drop since early 2009. It follows a number of dismal reports: a 5.7% decline in factory orders in August, falling demand for Germany’s exports, and a sharp drop in business confidence indices.

That does not bode well for the 18-nation euro-zone, where the unemployment rate remains in double-digits, 11.5% in August for the third straight month.

The J.P. Morgan global manufacturing index declined to a four-month low in September, the rate of expansion the weakest since April. J.P. Morgan said, "Growth was near-stagnant in the eurozone and Asia. The global index is being propped by growth in the United States.

And Europe’s stock markets reflect the problem, their markets not only broken under short-term support levels, but under the long-term 200-day m.a.

100714f

 

Other Voices. 

The International Monetary Fund: “There are concerns that markets are underpricing risk, not fully internalizing the uncertainties surrounding the macroeconomic outlook and their implications for the pace of withdrawal of monetary stimulus in some major advanced economies.”

To read my weekend newspaper column, click here:   Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the new issue of the newsletter will be out tomorrow in your secure area of the Street Smart Report website.

Yesterday in the U.S. Market. 

Another volatile day. The Dow was up 90 points in the first half hour, then sold off the rest of the day, down 80 points by early afternoon, then rallied back to close down 17 points, or 0.1%. Most of the rest of the market closed more negative than the Dow, particularly the DJ Transportation Avg. and Russell 2000. Volume was average, just short of 0.7 billion shares traded on the NYSE.

The Dow closed down 17 points, or 0.1%. The S&P 500 closed down 0.2%. The NYSE Composite closed up 0.1%. The Nasdaq closed down 0.5%. The Nasdaq 100 closed down 0.3%. The Russell 2000 closed down 0.9%. The DJ Transportation Avg. closed down 1.2%. The DJ Utilities Avg closed down 0.1%.

Gold closed up $14 an ounce at $1,207 an ounce on a sharp pullback by the U.S. dollar.

The U.S. dollar etf UUP closed down 1.1%.

Bonds (TLT) closed up 0.1%.

European Markets closed mixed and well off early highs.

The London FTSE closed up 0.6%. The German DAX up 1.2% early on, pulled back to close up only 0.1%. France’s CAC likewise pulled back to close up only 0.1%. Belgium closed up 0.1%. Denmark closed down 0.7%. Finland closed up 1.0%. Greece closed down 1.4%.  Ireland closed up 0.6%. Italy closed down 0.4%. Netherlands closed up 0.3%. Norway closed down 0.2%. Portugal closed down 0.3%. Spain closed up 0.7%. Switzerland closed up 0.5%.

Asian Markets mostly closed down last night.

China’s markets remained closed for the Golden Week holidays. They reopen tonight. Among markets that were open:

Australia closed down 0.2%. Hong Kong closed up 0.5%. India closed down 1.1%. Indonesia closed up 0.7%. Japan closed down 0.6%. Malaysia closed down 0.6%. New Zealand closed down 0.1%. South Korea closed up 0.2%. Singapore closed down 0.3%. Taiwan closed down 0.6%. Thailand closed down 0.2%.

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


*Premium Content*

Please Login or Subscribe to view this content.

Markets This Morning:

European markets are down sharply this morning.

The London FTSE is down 0.6%. The German DAX is down 0.8%. France’s CAC is down 1.1%. Belgium is down 0.9%. Denmark is down 1.7%. Finland is down 1.3%. Greece is down 1.6%. Ireland is down 1.6%. Italy is down 1.1%. Netherlands is down 0.9%. Norway is down 1.7%. Portugal is down 0.5%. Spain is down 1.6%. Switzerland is down 1.5.

This Morning in the U.S. Market:

Oil is down $.55 a barrel, at $89.79

Gold is up $3 an ounce at $1,210 an ounce.

This week’s Economic Reports:

This week is a very quiet week for U.S. economic reports, not much except the minutes of the Fed’s last FOMC meeting, and weekly unemployment claims. To see the full list and times click here, and look at the left side of the page it takes you to.

There were no reports yesterday.

This morning’s only report will be the JOLTS report (The Labor Department’s Job Openings and Labor Turnover Survey), which will be released at 10 a.m.).

The pre-open indicators have been negative all night and worsening this morning.

Our Pre-open Indicators:

Our pre-open indicators are pointing to the Dow being down 80 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:   Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the new issue of the newsletter will be out 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*****

Will Surging Dollar Become a Negative?

Saturday, October 4, 12 noon.

The U.S. dollar is the currency of international trade and the pricing of commodities. Therefore, a fluctuation in its value relative to other currencies has a significant effect (on all nations).

A rising dollar poses potential problems for the U.S. economy and corporate earnings because a stronger dollar makes U.S. exports more expensive in other countries, and makes imports from other countries less expensive, unfavorable to U.S. countries.

A strong dollar also lowers the prices of commodities, and the U.S. is the largest global exporter of agricultural commodities.

A strong dollar is also detrimental for U.S. corporations with international operations. Profits earned in other countries are discounted when they are converted back to U.S. dollars.

And the dollar has certainly been surging higher since July.

100414k

Just something else to think about at some point down the road.

You gotta love the banks.

The examples never end.

J.P. Morgan Chase experienced a security breach this summer in which it says an estimated 76 million households and 7 million small businesses were affected, compromising their names, addresses, phone numbers, email addresses, and “internal JP Morgan Chase information related to them”

The firm says it does not intend to notify the customers who have been affected, estimated at two-thirds of U.S. households. Market Watch reports that when asked why, a bank spokesman said, “That’s just what we’re doing.”

Steven Halpern interview.

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

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

To read my weekend newspaper column click here:  Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the next issue of the newsletter will be out on 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.

Just like last Friday, a big rally from the open. Last Friday the Dow closed up 167 points going into the weekend, but was down 1% for the week. This week it closed up 208 points going into the weekend. Volume was 0.8 billion shares trade on the NYSE.

The Dow closed up 208 points, or 1.2%. The S&P 500 closed up 1.1% at 1,967. The NYSE Composite closed up 0.8%. The Nasdaq closed up 1.0%. The Nasdaq 100 closed up 1.0%. The Russell 2000 closed up 0.8%. The DJ Transportation Avg. closed up 2.1%. The DJ Utilities Avg closed up 0.5%.

Gold closed down $22 an ounce at $1,191 an ounce.

The U.S. dollar etf UUP closed up 1.3%.

Bonds (TLT) closed up 0.4%.

Asian markets were mixed after previous session’s brutal declines.

The Asia Dow closed up 0.1%. Markets in China and Korea were closed for holidays. Among those that were open:

Australia closed up 0.3%. Hong Kong closed up 0.6%. India closed down 0.2%. Indonesia closed down 1.0%. Japan closed up 0.3%. Malaysia closed up 0.8%. New Zealand closed down 0.2%. Singapore closed up 0.8%. Taiwan closed up 1.5%. Thailand closed up 0.1%.

European markets closed up yesterday for a change.

The Europe Dow closed down 0.4%. The German market was closed for a holiday.

The London FTSE closed up 1.3%. France’s CAC closed up 0.9%. Belgium closed up 1.2%. Denmark closed up 1.1%. Finland closed up 1.0%. Greece closed down 0.8%. Ireland closed up 1.3%. Italy closed up 1.5%. Netherlands closed up 1.2%. Norway closed down 0.3%. Portugal closed up 1.0%. Spain closed up 1.4%. Switzerland closed up 0.3%.

Global markets for the week. 

A negative week pretty much everywhere. Global declines once again more than in the U.S.

THIS WEEK (Oct. 3)
DJIA 17,009 -0.6%
S&P 500 1,967 -0.8%
NYSE 10635 -1.5%
NASDAQ 4475 -0.8%
NASD 100 4027 -0.6%
Russ 2000 1104 -1.3%
DJTransprts 8481 -0.1%
DJ Utilities 555 +1.4%
XOI Oils 1,511 -4.6%
Gold bull. 1,191 -2.1%
GoldStcks 78.42 -6.6%
Canada 14789 -1.6%
London 6527 -1.8%
Germany 9195 -3.1%
France 4281 -2.6%
Hong Kong 23,064 -2.6%
Japan 15,708 -3.2%
Australia 5315 -0.1%
S. Korea 1976 -2.7%
India 26567 -0.2%
Indonesia 4949 -3.6%
Brazil 54297 -5.1%
Mexico 44689 -0.4%
China 2474 +0.7%
LAST 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%
PREVIOUS 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%

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 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.).

In the premium content area this morning: Charts and signals on the U.S. stock market, gold, and bonds, signals (long-term, intermediate-term, and short-term), and analysis of each.


*Premium Content*

Please Login or Subscribe to view this content.

 

Next week’s Economic Reports:

Next week will be a very quiet week for U.S. economic reports, not much except the minutes of the Fed’s last FOMC meeting, and weekly unemployment claims. 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:  Look Out Below for Gold

Subscribers to Street Smart Report:

In addition to the charts and signals in the ‘premium content’ area of this blog, the next issue of the newsletter will be out on 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.

**** End of Today’s post*****

Is it another pullback buying opportunity?

Thursday, October 1, 9:25 a.m.

The S&P 500 and Dow are down 3% from their previous peaks and at potential short-term support levels. Previous such pullbacks were ‘buy the dip’ opportunities.

And we are in October, getting close to the November-May season when the market tends to make most of its gains each year.

100214b

Or are the collapses in so many global markets saying it might be different this time? After all the market topped out on October 9 in 2007 into what became the 2007-2009 bear market.

100214c

100214d

For our opinion and our intermediate-term signals and recommendations, subscribe to streetsmart: Click here:https://streetsmart.securesites.net/order.html

Will Seasonal Timing Prevent a Bear Market? 

An interesting question asked by Mark Hulbert in an article on MarketWatch yesterday. Mark refers to the Sell in May and Go Away pattern as the Halloween Indicator since its re-entry day is at the end of October. Click on this link to read it: Will the Halloween Indicator keep a bear market at bay-? The article also provides a link to one of the academic studies on annual seasonality that you can download.

Steven Halpern interview! 

Steven Halpern interviewed me on an interesting subject for MoneyShow.com last week, which which is still on its website. 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

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. 

An ugly day, with the Dow down as much as 260 points, and closing almost on its low, down 238 points. On a second day of high volume, with almost 0.9 billion shares traded on the NYSE.

The Dow closed down 238 points, or 1.4%. The S&P 500 closed down 1.3%. The NYSE Composite closed down 1.2%. The Nasdaq closed down 1.6%. The Nasdaq 100 closed down 1.6%. The Russell 2000 closed down 1.5%. The DJ Transportation Avg. closed down 2.5%. The DJ Utilities Avg closed up 0.4%.

Gold closed up $4 an ounce at $1,215 an ounce.

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

Bonds (TLT) closed up 1.9%.

European Markets closed down sharply again yesterday.

The Europe Dow closed down 0.9%.

The London FTSE closed down 1.0%. The German DAX closed down 1.0%. France’s CAC closed down 1.1%. Belgium closed down 0.7%. Denmark closed up 0.1%. Finland closed down 1.4%. Greece closed down 0.3%.  Ireland closed down 0.7%. Italy closed down 0.9%. Netherlands closed down 1.0%. Norway closed down 1.0%. Portugal closed down 1.0%. Spain closed down 0.7%. Switzerland closed down 0.5%.

Asian Markets closed down sharply last night.

The Asia Dow closed down 1.1%. Markets in Hong Kong and Mainland China remained closed for National Day holiday. Among markets that were open:

Australia closed down 0.7%. India closed down 0.2%. Indonesia closed down 2.7%. Japan closed down 2.6%. Malaysia closed down 0.6%. New Zealand closed down 0.6%. South Korea closed down 1.1%. Singapore closed down 1.1%. Taiwan closed down 0.2%. Thailand closed down 1.1%.

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


*Premium Content*

Please Login or Subscribe to view this content.

Markets This Morning:

European markets have come off earlier mixed conditions, now negative.

The Europe Dow is now down 0.5%. Among individual countries:

The London FTSE is down 0.5%. The German DAX is down 0.6%. France’s CAC is down 0.5%. Belgium is down 0.7%. Denmark is down 1.1%. Finland is down 0.4%. Greece is up 1.5%. Ireland is down 1.1%. Italy is down 2.1%. Netherlands is down 0.8%. Norway is down 2.0%. Portugal is down 1.2%. Spain is down 1.3%. Switzerland is down 0.6%.

This Morning in the U.S. Market:

Oil is down $1.06 a barrel, at $89.67

Gold is up $1 at $1,216 an ounce.

This week’s Economic Reports:

This week is 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.

Monday’s reports were that Consumer Incomes were up 0.3% in August, while Consumer Spending jumped 0.5%. 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.

Tuesday’s reports were that the Case-Shiller Home Price Index shows home prices were up another 0.6% in July. The Chicago PMI Index fell from 64.3 in August to 60.5 in September. It showed that manufacturers added inventory at the fastest pace in 41 years. And the Conference Board’s Consumer Confidence Index fell from 93.4 in August to 86.0 in September.

Yesterday’s reports were the ADP jobs report, which showed that 213,000 new jobs were created in the private sector in September, slightly more than the consensus forecast of 209,000. The ISM Mfg Index fell from 59.0 in August to 56.6 in September. Construction Spending was down 0.8% in August, worse than the consensus forecast of an increase of 0.5%. And auto sales remained strong in September, but slowed from their August pace, with annualized sales of 16.43 million units, down 6.2% from 17.53 million in August. 

This morning’s only report so far is that new weekly unemployment claims fell 8,000 to 287,000 last week. The four-week moving average declined by 4,240 to 294,750.

Still to come is the Factory Orders report, which will be released at 10 a.m.

The pre-open indicators were somewhat positive earlier but have turned negative along with markets in Europe.

Our Pre-open Indicators:

Our pre-open indicators are now pointing to the Dow being down 40 points or so in the early going.

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

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

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*****

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.

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


*Premium Content*

Please Login or Subscribe to view this content.

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

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*****

Login