Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

$DIA, $SPY, $QQQ, $RUTX

Q-2 earnings is coming to a close, just as Key economic data coming up.

This week we have: retail sales, Empire manufacturing and Philly Fed, industrial production and
capacity, housing starts, leading indicators, and MSI.

Data is important as it is important the US economy remain strong as it tackles the trade and other issues from the rivals such as China, the EU, Canada and Mexico.

President Trump’s Peace through strength, and a strong economy policies are paying off; America First.

The Fed wanted to create inflation, and now it has it but is acting to prevent what it wanted to the point it will stall out the
expansion, Wild!

Shocks like the Turkish lira dive should be temporary as it underscores US strength Vs other countries. The .DXY is showing that too in here.

The stock market should hold in here and move further North if the economy does the same. And the Fed stays clear.

The market is a forecaster.

The trend is still up, but as it want to marke new highs it suggest strong economic issues ahead thanks to the Fed  tightening yields into a flat curve; it always does.

Last week was challenging, but the leaders are not hammered, but many are at support where they ave to hold and bounce if the Northside actio is to continue.

Approach the all time highs means caution moving into Northside.

Many analyst I read at the weekend are dismissing the trouble at new highs, letting moves by AAPL cover the weaklings, they may be right.

If the big dogs roll over other stocks can come in and take their lead, new leadership is normal as the money rotates

We have to be cautious in here, but not try to call a Top, only fools try that. That said, look at possible upside
from leaders still leaders and in great patterns, and watching for falling stars.

Remember, pay attention, as it is your money, your responsibility and always take what the market gives.

 

The Bulls Vs The Bears

Sentiment Indicators

VIX: 13.16; +1.89
VXN: 16.22; +1.31
VXO: 11.85; +1.72

Put/Call Ratio (PCR) CBOE: 1.20; +0.35

The Bulls and The Bears:  Market is in a positive consolation mode, and the Bulls recovered some, and The Bears fell some on the week sans Friday’s action.

The Bulls are at: 54.9 Vs 54.5 last

The Bears are at 18.6 Vs 18.8 last

 

Support and Resistance

HeffX-LTNs Major US Stock Market Indexe’s Support and Resistance for the Week Ended 10 August 2018

Date Symbol Price Technical Analysis Support Resistance
10 August 2018 QQQ 180.52 Bullish (0.26) 179.56 181.38
10 August 2018 DIA 253.3 Neutral (0.19) 252.94 254.36
10 August 2018 SPY 283.16 Bullish (0.27) 282.50 284.05

Have a terrific week

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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