Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: Indecision 2010
Markets remain indecisive. We see this demonstrated by the difficulty extending to from three waves to five waves either up or down. Weakness in the futures overnight suggests we might take out some support levels, but the current levels aren’t low enough to predict we’ll extend to five waves. For that, traders will need to […]
Squawk Morning Briefing: Old, Bold Traders
Markets were mostly flat overnight but started to move as we were writing this morning. Continued weakness in equity futures and the Euro suggest that we might open below recent support levels. It is possible that we have seen tops in both these markets, and establishing and holding underneath resistance is the first step toward […]
Squawk Morning Briefing: Special Coverage of GS
The G20 meeting is now over so a low range day on Friday with few new significant waves to count may give way to more motion today. With uncertainty of those finance discussions removed, traders have decided to sell the Dollar and equity futures are also getting a lift. The overnight high in U. S. […]
Squawk Morning Briefing: Heads or Tails
Action in U. S. equity indices looks toppy. Five waves up suggests either a correction or a turn, but so far the move back down doesn’t look like more than a correction. Topping action can get a little crazy so we won’t rule out a pop to a minor new high before a turn, but […]
Squawk Morning briefing: Watch Currencies During G20
The Euro is the story this morning. Its wave structure seems to suggest it will make new highs and that may be the thing that pulls equity prices up over their prior highs. Economic data out this morning includes weekly jobless claims, leading economic indicators, and the Philly Fed report. We also are anticipating earnings […]
Squawk Morning Briefing: Need Confirmation
Tuesday’s impressive decline in equities and the Euro has only extended to three waves so far. This leaves markets at a critical point where they could have experienced little more than a downward correction, or the move could evolve further downward, but won’t get too far unless the move first extends to five waves. We […]
Squawk Morning Briefing: No Excuses
The Elliott Wave apologists and complainers are starting to emerge. Other advisory services that were regularly tracking the DJIA have shifted their emphasis to other indices that are not so close to their April highs. We are hearing excuses about index composition; how if AAPL has been added to last year instead of CSCO that […]
Squawk Morning Briefing: Parameters Remain Clear; Price Action Murky
Futures prices weakened overnight but have mostly recovered. In equities and forex, we are still in an ambiguous place where prices could go either way. The Monday after options expiration often sees prices remain relatively stable and then prices can move again on Tuesday. Who knows if that will remain the case this time around. […]
Squawk Morning Briefing: Goldilocks and the 3% Bears
It seems that whenever Fed Chairman Bernanke is scheduled to speak, the market stalls until he does. Perhaps the best fundamental explanation to account for the very narrow trading range this week. At 8:15 this morning Ben is scheduled to speak at a Fed conference in Boston and all are watching […]
Squawk Morning Briefing: Conflicting Signals
The Euro put in a new high overnight. While the currency may be at some possible Fibonacci resistance levels, it looks like it could have further upside potential. If so, it could give a continued lift to equities which are already stretched to the upside and continue to have the DJIA near a the April […]