2014/07/02: TrendView VIDEO: Concise Highlights (early)
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TrendView VIDEO ANALYSIS & OUTLOOK: Wednesday, July 2, 2014 (early)
Concise Highlights
Even with the mixed international and weakish US economic data Tuesday morning, the US equities felt it was time to violate near term topping activity (more on that below) to put in another upside extension. This was likely at least partially the flows that we mentioned previous need to be put to work at the top of each quarter. Yet it was also likely at least some degree of the continued recent FED-phoria along with so many other central banks’ accommodative stances helping the equities. In any event, for right now that seems to have trumped any of the international geopolitical concerns or still weak economic readings out of Europe. More of the same was apparent in this morning’s lower than expected Euro-zone Producer Price Index. So even if Europe is so clearly lagging the outlier strong sister US, it appears that after the recent modest reactions the bulls are still in the driver’s seat… but to where?
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Video Timeline: It begins with macro (i.e. fundamental influences) discussion of some of the factors noted above and below plus revisiting our focus on the importance of the top-of-the-month investment flows from dividends and bond yields. That tends to be a constructive factor for equities as was glaringly apparent yesterday. Today also still brings the US ISM New York and Factory Orders. It also notes that the ECB meeting is not likely to be very radical after the major moves at last month’s meeting, and both that and the likely far more influential US Employment report impact the markets into an early US Fourth of July pre-holiday Close tomorrow.
It moves on to the SEPTEMBER S&P 500 FUTURE short-term trend view at 03:00 and intermediate term at 05:40, then the OTHER EQUITIES from 07:15, with GOVVIES analysis beginning at 12:00 (with an expanded view of the weekly Bund future chart) and SHORT MONEY FORWARDS at 17:00. That is followed by only mention of FOREIGN EXCHANGE at 20:35 (as it was so heavily analyzed Tuesday) but with a CROSS RATES discussion at 21:50 that includes a view of an expanded EUR/GBP weekly chart to review the critical nature of .8000-.7950, and a return to SEPTEMBER S&P 500 FUTURE at 24:00 for a final view and additional perspective. We suggest using the timeline cursor to access the analysis most relevant for you.
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Authorized Gold and Platinum Subscribers click ‘Read more…’ to access the balance of the opening discussion and TrendView Video Analysis and Brief Update. Silver and Sterling Subscribers click ‘Read more…’ to access the balance of the opening discussion.
2014/07/03: TrendView VIDEO: Concise Highlights (early)
2014/07/03: TrendView VIDEO: Concise Highlights (early)
© 2014 ROHR International, Inc. All International rights reserved.
The analysis videos are reserved for Gold and Platinum Subscribers
TrendView VIDEO ANALYSIS & OUTLOOK: Thursday, July 3, 2014 (early)
Even with the mixed international and weakish US economic data Tuesday morning, the US equities felt it was time to violate near term topping activity to put in another aggressive upside rally extension. It was most interesting that this was only followed by a modest consolidation Wednesday on what was good better data, yet holding another key elevated technical threshold (more on all that below.) This morning’s equities strength on weakish Services PMI’s out of everywhere from Asia (except Chinese HSBC Services PMI) right through Europe (except a bit of improvement in Italy) raises a classical question: Are the equities back in a bad news is good news psychology?
That would be a fairly reasonable psychology with most central banks (except the BoE) still in a very accommodative mood. Aside from any further assumptions on the degree to which that might stimulate the global economy (belied by very weak corporate capital spending plans), it does still encourage the yield chase into riskier assets. We should know more soon based on the market response to this morning’s ECB press conference and even more so the very critical US Employment report.
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Video Timeline: It begins with macro (i.e. fundamental influences) discussion of some of the factors noted above plus revisiting our focus on the importance of the US Employment report and that this morning also sees the US Non-Manufacturing PMI’s. It also reminds once again that the ECB meeting is not likely to be very radical after the major moves at last month’s meeting, and both that and the likely far more influential US Employment report impact the markets into an early US Fourth of July pre-holiday Close today.
It moves on to the SEPTEMBER S&P 500 FUTURE short-term trend view at 02:30 and intermediate term at 05:35, then the OTHER EQUITIES from 07:00, with GOVVIES analysis beginning at 10:00 (with an expanded view of the weekly Bund future chart) and SHORT MONEY FORWARDS at 15:30. That is followed by the US DOLLAR INDEX at 18:45 and only mention of most other FOREIGN EXCHANGE (so heavily analyzed Tuesday) but with a view of AUD/USD at 20:50 due to its recent sharp moves, and EUR/AUD as the only commensurately interesting CROSS RATE at 23:10, with a return to SEPTEMBER S&P 500 FUTURE at 24:00 for a final view and additional perspective. We suggest using the timeline cursor to access the analysis most relevant for you.
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Authorized Gold and Platinum Subscribers click ‘Read more…’ to access the balance of the opening discussion and TrendView Video Analysis and Brief Update. Silver and Sterling Subscribers click ‘Read more…’ to access the balance of the opening discussion.
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