Bullish S&P 500 DeMark Signal Seen Only 5 Times Since 1982
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Posted 18 November 2019 - 09:05 AM
The economic calendar:
Monday - NAHB Housing Market Index, 3-Month and 6-Month Bill Auction, Total Net TIC Flows
Tuesday - Housing Starts (MoM), Building Permits (MoM), Housing Starts Change, Building Permits Change, Redbook Index (YoY), Redbook Index (MoM), API Weekly Crude Oil Stock
Wednesday - MBA Mortgage Applications, EIA Crude Oil Stocks, FOMC Minutes
Thursday - Initial Jobless Claims, Initial Jobless Claims 4-week average, Continuing Jobless Claims, Philadelphia Fed Manufacturing Survey, Existing Home Sales (MoM), Existing Home Sales Change (MoM), EIA Natural Gas Storage Change, 4-Week Bill Auction, 10-Year Note Auction
Friday - Markit Manufacturing PMI, Markit Services PMI, Markit PMI Composite, Michigan Consumer Sentiment Index, Kansas Fed Manufacturing Activity, Baker Hughes US Oil Rig Count, CFTC Net Positions
What to watch in markets:
Equity -The U.S. equity rally seems a little too ‘euphoric.’ The Dow Jones Industrial Average rallied just above 28,000. For some context, Dow futures rallied over 1500 points higher since Trump said ‘phase one’ deal was complete. Most traders are feeling we moved higher too fast. Do we sell the news? Is 'phase one' deal at risk from not being completed? Will it be a 'no substance phase one' trade deal?
S&P 500 and Nasdaq 100 futures remained strong and were up 1.8% and 1.94% last week.
Posted 18 November 2019 - 09:09 AM
Great news d thanks!! Always love the reads assortment!!
Posted 18 November 2019 - 09:55 AM
The leader SOX looking like potential breakout/fakeout action...
a move back under 1730 could seal it in....
In any event, diverging wildly from Dow here...worth keeping an eye on...
Posted 18 November 2019 - 10:23 AM
Posted 18 November 2019 - 10:24 AM
Watch Dec 3 for an important top and after that, Dec 9th for a secondary peak. A quick 7.8% shakeout is coming, I believe into Dec 11th. I'm bullish after that into March 2020 above 3200 SPX. I'm now keying in on Oct 2020-March 2021 for a giant bear, like perhaps 40%. Benner's Cycle 2018 early top to 2021 low in March like 2000-2003. Looks like a broadening top formation, so higher prices into 2023 expected to near 3500. 2023-25 like 2007-09.
Edited by blustar, 18 November 2019 - 10:25 AM.
Posted 18 November 2019 - 10:28 AM
RUT a bit sickly here...wasn't even able to make the fake breakout on Friday......1590 area look key....
Posted 18 November 2019 - 10:41 AM
SOX holding the line thus far....1735 now the stop...