Category: Financial Markets Update

FOR TUESDAY: (10/2) Usually the week of the employment report in congestive in wide ranges and not a great week to play. We’ll continue to try to peel off profits and not get greedy.Continue reading

FOR MONDAY: (10/1) First of the month fund buying should start. Research on the 12-year cycle that kicks in mid-October suggests lower dollars for a year and higher metals, and we’re starting to sense that the Oct. seasonals for stocks may fail unless 2950 isn’t taken out early in the week. Lot of turns coming on the weekly chart in the next few weeks, and we’ll continue to report as we complete more research.Continue reading

FOR THURSDAY: (9/27) Not sure we learned much from the FOMC meeting except that the market was overbought and end of the month profit-taking is needed. Still, Oct. seasonal buying isn’t far away and they will jump on buying the corrections over the next few days. Doubt that the political circus on Thursday will have any impact on the confirmation and we can all wait on the next scandal to keep us entertained and keep CNN ratings up. Where is Walter Cronkite when you need him?Continue reading

FOR WEDNESDAY: (9/26) Another FOMC meeting. They usually buy them, and that should be the case overnight and into before the announcement but starting to sense a fall after the announcement into Thursday. We do favor higher dollars into Friday, and that should mean we have to sell gold in the morning and silver despite heroics today.Continue reading

FOR TUESDAY: (9/25) The Tuesday before FOMC is often higher although a rate hike is already priced in so it shouldn’t have much impact. The issue will be how many more rate hikes they project, with Deutsche Bank seeing 5 more by the end of 2019. There are a lot of cross currents out there but not sure politics means much, and the Chinese tensions are rather old news these days. The issue will be how much you want to bet on reactions to the rate hike on Wednesday and as away we play key number and pattern completions but there are always surprises.Continue reading

FOR MONDAY: (9/24) Cycles into the weekend are wild and the political background noise is a huge circus that the market barely cares about. Other countries are also very vulnerable. We’re looking for lower action on stocks for Sunday night into part of Monday but then that may be it. Any falls on the dollar will set up a 2-week rally, and gold is failing and any 2-day bounce needs to be sold for the rest of the week and probably the next 2 weeks. Crude is on the edge with OPEC news but it could come back from the dead.Continue reading

FOR FRIDAY: (9/21) Quadruple Witch can be a big sideways nothing after an early spurt and isn’t a great trading day. Markets in paralysis before FOMC and while we still have a bias toward higher gold and silver and lower dollars, not much happening yet without much more of a crisis. Going to leave it alone before the weekend break.Continue reading

FOR THURSDAY: (9/20) Not sure we learned much on Wednesday but global rates are in a bit of a crisis and dragging US notes lower. Stocks are still in Lala land and some minor flight to quality. Cycles are volatile on Thursday and not sure we have anything definitive to do and expect more range trading than anything.Continue reading

FOR WEDNESDAY: (9/19) Usually a week before FOMC we get congestive whippy ranges and we are starting to set up for that. Not seeing S & P much above 2921 on Wednesday but starting to look like stocks, gold and crude and T-notes are higher into Friday and dollar lower.Continue reading

FOR TUESDAY: (9/18) Stocks down a bunch in the night session as the reality of the tariffs sets in. Should at least spill into Tuesday and maybe Wednesday. Cycles are volatile and something unexpected involving the military or natural disasters around earthquakes could develop within the next few days, and it has been tense with hurricane and tornadoes.Continue reading