Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: When Will it End?
Weekly charts from last week tell the story: we haven’t moved very much lately. Choppy movement in a tight range is a hallmark of corrective waves. What remains unclear is whether those corrective waves are over and we’re starting to enter trend again, or whether the chop will continue. We continue to be able to […]
Squawk Morning Briefing: Little Change in Markets or Outlook
Yesterday we mentioned that it looked like corrections were incomplete and that led to a choppy, sideways day. We still haven’t seen a sign that the correction is over and until it does, we’ll continue to be prepared for chop. While we might see a larger range within the correction or a larger net change […]
Squawk Morning Briefing: Waiting for Pattern Completion
Most all markets are in corrective patterns or are beginning to emerge from them. The structure of corrections can often be complex and by their very nature they are choppy so it can be dangerous to anticipate their end prior to seeing some confirmation of a return to trend or an extremely clear and precise […]
Squawk Morning Briefing:
Our Fibonacci time projection date of December 8th has come and passed. Whatever predictive power these time relationships have is also qualified by the fact that they’re rarely exact so we can give a few days leeway, but we didn’t put much stock into it to begin with. The DJIA did not put in a […]
Squawk Morning Briefing: The Public Rally
Fifth waves are also sometimes referred to as the public phase of a rally. Once confidence grows in a trend direction, the broad public can provide the fifth and final push as those who saw the early stages of a move close out their positions. Media and social mood seem to reinforce the notion that […]
Squawk Morning Briefing: Starting Target Search
With the pattern on the DJIA more like it favors a fourth wave correction we’re starting to analyze where we might see upside targets taking us in a fifth wave. And with the Euro possibly nearing the end of a smaller degree second wave correction, we want to find targets for the end of that […]
Squawk Morning Briefing: Approaching Labor Numbers on Friday
Nearly 250 points up on the DJIA on Monday certainly trumps a series of 100 point swings that have caused chop over the past several weeks. However, it doesn’t yet do anything to convincingly say that we’re out of a protracted corrective pattern. Currencies seem to be more definitive about their direction, but even there […]
Squawk Morning Briefing: Little New For Equities; Euro Bounce
Even with the Dow futures predicting a 100+ point opening gap that will still leave the cash index inside our recent chop range. We need to break previously cited levels to have confidence that we know the upcoming direction. Failure to see that leaves us open to the sort of whipsaw action that has been […]
Squawk Morning Briefing: Still Chopping
For some time now we’ve been saying that the DJIA needs to break below 10,720 or above 11,452 to establish a clear direction. It has failed to do either for several weeks now. And what we’ve seen has been markets in chop with little memory of direction from one day to the next. Until we […]
Squawk Morning Briefing: Everyone Is Back To Work
Everyone is getting back to work today with lots of questions hanging over the market from a fundamental perspective. How will Black Friday sales come in? How will they be received? What about the Ireland bailout? Toss in questions about tax-related buying or selling going into the year and it’s quite a mess if you’re […]