Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: Decision Point
After Friday’s gap down and grind higher, U. S. equity markets are in a spot where they need to turn back down near current levels or expectations will have us looking for at least one more new high. The number of economic reports drops off this week, but bond traders will likely focus on […]
Squawk Morning Briefing: State of Play
Many things are in play this morning. The Euro made new lows we’ve been waiting for yesterday and is starting to bounce, bond futures are testing cited resistance levels and equity futures are continuing to sell off. All of these actions have multiple possible interpretations which we cover in today’s videos.
Squawk Morning Briefing: Looking Ahead to BLS Report
While we have a busy news day today, perhaps the biggest report on the horizon is Friday’s non-farm payroll numbers from the BLS. As we discuss in both the DJIA and YM videos, it looks as if we’ve seen a five-wave decline in U. S. equities which suggests that we are likely to see […]
Squawk Morning Briefing: Event Risk Ahead
We continue to wait for clear signs of a top. In the mean time we can look forward to a fairly full schedule of planned events with market moving potential in the coming days and weeks. This is “jobs week” so we’ll see the ADP report this morning in advance of Friday’s monthly […]
Squawk Morning Briefing: Not Done Yet
It was only a few weeks ago that we were waiting for a retracement that was large enough to appear as a fourth wave in the advance from late February lows in U. S. equities. While we finally saw enough sideways action to qualify it did leave us with uncertainty about where the fourth wave […]
Squawk Morning Briefing: April Fools
On this first day of the fourth month we know that pranksters are more likely than usual to play tricks on us. Yet those of us watching U. S. equity markets should be used to this by now. After all, most of February was spend going sideways with moves that whipped traders […]
Squawk Morning Briefing: A Little Light News
In addition to weekly jobless claims and Chicago PMI today’s data docket includes the “final” revision to 4th quarter GDP. Usually this third estimate of GDP sees little change from the prior two reports and, therefore, doesn’t move markets too much. However, Q3 saw a large, unanticipated downward adjustment so we’ll just need […]
Squawk Morning Briefing: In Limbo
This morning we could almost repeat our comments from yesterday. We are in the middle of recent consolidation range with plausible interpretations which would allow the top to be in and others which would propel us yet higher before a turn. The dramatic overnight move in risk assets has the smell of something […]
Squawk Morning Briefing: Broken Record
Once again we have a plausibly complete five-wave move up at Monday’s high. However there are enough reasonable alternate interpretations to be wary of calling the high in. Those alternate interpretations would see prices continue somewhat higher before any turn down. Therefore, without further evidence that a turn is in place we […]
Squawk Morning Briefing: Seasonal Markups
With Friday being the last trading day of the first quarter of 2013 one would expect to see markups through most of the week. We all hear this seasonal phenomenon talked about often enough, but it’s important to remember that there are generally two components to it:
A general upward bias as funds try to push […]