Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: Peking Goose
China started this morning’s move up when it goosed the market by relaxing bank reserve requirements. The big six central banks continued the push by announcing special programs to make U. S. Dollars available and then a positive ADP report added a last push. There is plenty more economic data on tap for today and […]
Squawk Morning Briefing: Year-End Games
As we approach the end of the year, there are many factors which can affect markets other than pure perceptions of value. For 2011, major indices are roughly flat, but some individual stocks have performed quite well while others haven’t. This can often lead to tax-related selling as underperforming names are thrown overboard so that […]
Squawk Morning Briefing: Worst Thanksgiving Meets Best Black Friday
U. S. equity markets shrugged off the positive bias associated with Thanksgiving week and fell each day of the holiday-shortened week. While that was evidence of negative sentiment, it also may have completed a small-degree five wave move down while leaving markets short-term oversold. In this environment, reports of the best black Friday sales results […]
Squawk Morning Briefing: Happy Thanksgiving
With overnight drops in U. S. equity futures and the Euro, as well as gains in Treasury futures, market action remains aligned with our outlook. With prospects for rather light trading on Wednesday and Friday, we don’t anticipate any action which would alter our outlook. If there is, we will send a brief note. It […]
Squawk Morning Briefing: Flip Flop
The recent back and forth in markets seems to have pundits switching sides faster than we can track. Those who are bullish on improvements in the U. S. economy one day suggest that it could all fall apart on European worries the next. Meanwhile, those who were worried about Europe last week are relieved to […]
Squawk Morning Briefing: A Bear’s Thanksgiving?
Overnight selling of U. S. Equity futures reveals an intent to sell stocks at the open, likely taking out last Thursday’s lows and testing lows from November 1st. This is consistent with the bearish view that a corrective top is in place from October 27th.
We don’t want to put too many impediments in […]
Squawk Morning Briefing: Need Follow-Through
Thursday’s action in U. S. equities demonstrated intent to head downward. The next important action will be follow-through to confirm that intent, even if we see a corrective bounce first.
Squawk Morning Briefing: Patience
The 11,862 number cited in last night’s DJIA video is incorrect. The index would have to print below 11,737 in order to invalidate the triangle as it is currently drawn. Until we get a break below that level, a push to new highs, or some other clear indication that one of […]
Squawk Morning Briefing: Test Ranges and Patience
The Euro seems to be breaking down, but equity markets are not committing to a direction and leaving the door open to new highs before a drop. This forces us to remain patient. We want the market to commit to a direction before we do.
Squawk Morning Briefing: Pump Up The Volume
Equity market volume continues to be anemic; combine that with impressive swings in both directions and it becomes clear that the market is struggling to find a direction. This could just be a pause before a turn down, or sideways consolidation indicating the possibility of ongoing correction. We continue to address these possibilities in today’s […]