2014/02/27: TrendView VIDEO: Global View (early)
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TrendView VIDEO ANALYSIS & OUTLOOK: Thursday, February 27, 2014 (early)
Even with the weakness in Europe, yesterday’s late session weakness in US equities did not seem to have any apparent driver. Yet the markets are creatures of anticipation, and it is possible they were considering the influences from this morning through tomorrow’s weekly Close. And those include a Bundesbank Financial Stability Symposium where the hosts are known to be less than friendly to accommodative central bank actions. That begins today and continues through the day tomorrow. There may also be some anticipation of the major Japanese component of typically heavy end of month data. It has disappointed of late in spite of the massive ‘Abenomics’ central bank liquidity expansion there along with some other stimulative steps.
That equities weakness yet even more so the concerns over Europe remaining weak overall is assisting the govvies for now. And especially the extensive strength in the Bund and to some degree in other govvies futures as well are very important into an expiration cycle beginning next week where the June contracts are trading at significant discounts to the March contracts (more on that in the full analysis.) The degree to which the US is also viewed as a bit better once again is assisting the US dollar once again as well, with quite a bit of the divergence noted previous still obvious in the asset class.
With March S&P 500 future overnight trade back below support in the 1,838 area, any further erosion might take it back down to 1,820 interim support that held so well last week. Of course, the more major support remains into the 1,804 Negated DOWN Break. And as noted since late last week, any push back above the old 1,846.50 all-time futures high will run into weekly oscillator resistance at 1,860-65 this week.
The video timeline begins with macro (i.e. fundamental influences) factor discussion of the influences noted above, including the beginning of the official pronouncements from that Bundesbank Symposium right around 07:00 CST with a speech by Bundesbank President and ECB Governing Council Member Jens Weidmann. It will also be important to watch the reaction to the US Durable Goods Orders economic release this morning.
It moves on from there to the March S&P 500 future short-term trend view at 02:50 and intermediate-term at 04:55, then the other equities from 06:10, with govvies analysis beginning at 09:15 (including discussion of the significant discounts in the June contracts and an expanded view of the Bund weekly chart) and short money forwards at 15:00. Foreign exchange begins with the US Dollar Index at 17:15, jumping over to Europe at 17:15 and Asia at 19:55, followed by the cross rates at 23:50 (including an expanded EUR/GBP weekly chart), and a return to the March S&P 500 future at 27:40 for a final view and additional perspective. We suggest using the timeline cursor to access the analysis most relevant for you.
[The Weekly Report & Event Calendar and last Friday’s Current Rohr Technical Projections - Key Levels & Select Comments are available via the link in the sidebar]
The TrendView VIDEO ANALYSIS & OUTLOOK is accessible below.
Authorized Gold and Platinum Subscribers Click ‘Read more’ to access TrendView Video Analysis’ General Update
2014/02/28: TrendView VIDEO: Global View (early)
2014/02/28: TrendView VIDEO: Global View (early)
© 2014 ROHR International, Inc. All International rights reserved.
The analysis videos are reserved for Gold and Platinum Subscribers
TrendView VIDEO ANALYSIS & OUTLOOK: Friday, February 28, 2014 (early)
Even with the weakness in Europe yesterday the US equities managed to push higher. That seems to highlight the Ukrainian turmoil as an influence in a significant way. This will leave the markets unsettled into the weekend even though there seems to be a bit less confrontational atmosphere. This is more so consistent with Henry Kissinger’s famous characterization of the lowering of US-Soviet tensions as a détente rather than anything resembling peace. As such, all market openings next Monday will be subject to how things go over the weekend with that volatile situation.
That said, the easing of tension there combined with the somewhat better global economic data anywhere from Japan (very important) through to Euro-zone CPI (maybe even more so) has helped the European currencies rally against the US dollar even more than it has assisted the equities this morning… and obviously weighed on the govvies that were up so smartly yesterday on the Ukrainian concerns. How that plays out over the weekend will be very interesting as well.
The video timeline begins with macro (i.e. fundamental influences) factor discussion of the influences noted above, and also the degree to which the additional US economic data today may be very interesting. That is all followed by some central banker speeches from a meeting in New York.
It moves on from there to the March S&P 500 future short-term trend view at 01:30 and intermediate-term at 03:45, then the other equities from 05:30, with govvies analysis beginning at 08:35 (including discussion of the significant discounts in the June contracts and an expanded view of the Bund weekly chart) and short money forwards at 14:05. Foreign exchange begins with the US Dollar Index at 17:40, jumping over to Europe at 19:00 (with an expanded chart of EUR/USD) and Asia at 22:20, followed by the cross rates at 24:45, and a return to the March S&P 500 future at 28:00 for a final view and additional perspective. We suggest using the timeline cursor to access the analysis most relevant for you.
[The Weekly Report & Event Calendar and last Friday’s Current Rohr Technical Projections - Key Levels & Select Comments are available via the link in the sidebar]
The TrendView VIDEO ANALYSIS & OUTLOOK is accessible below.
Authorized Gold and Platinum Subscribers Click ‘Read more’ to access TrendView Video Analysis’ General Update
Read more...