Macro Week in Review Preview November 9, 2012
- Posted by Greg Harmon
- on November 9th, 2012
Last week’s review of the macro market indicators suggested, heading into next week there was continued weakness. Gold and Crude Oil looked better to the downside while the US Dollar Index seemed to be turning up and US Treasuries were biased lower within the Uptrend. The Shanghai Composite and Emerging Markets were poised to continue consolidation, Chinese markets within the downtrend. Volatility looked to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the Dollar Index and Treasuries undercutting it. The Indexes themselves all looked biased to the downside with a chance of consolidation within the longer term uptrends.
The election was the pivot point for the week. It played out with Gold ripping higher while Crude Oil jumped only to fall back at resistance. The US Dollar broke higher and Treasuries followed along after the election. The Shanghai Composite rolled back lower while Emerging Markets remained in their recent range. Volatility remained subdued but an uptrend is building. The Equity Index ETF’s SPY, IWM and QQQ held early in the week but dumped hard after the election results. What does this mean for the coming week? Lets look at some charts.
If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.)
Subscribe to read the rest of this article.
Already a member? Sign in here.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Top Trade Ideas for the Week of March 30, 2015: The Rest
- Top Trade Ideas for the Week of March 30, 2015: The Rest Premium
- Top Trade Ideas for the Week of March 30, 2015: The Best
- SPY Trends and Influencers March 28, 2015
- Macro Week in Review/Preview March 27, 2015
- Trading the Ratio of Oil Servicers to Oil
- Trading 3 Black Crows, A Hammer and On Semiconductor
- Premium Earnings 3-26-15
- Crabs and Sharks in the Gold Chart: Update
- Designing a Spring portfolio improvement trade in Home Depot