Macro Week in Review/Preview November 16, 2012
- Posted by Greg Harmon
- on November 16th, 2012
Last week’s review of the macro market indicators suggested, as we shifted focus from the election to the fiscal cliff, that the market was revolting. Gold looked to continue in its uptrend while Crude Oil consolidated with a bias lower. The US Dollar Index and US Treasuries were set to move higher. The Shanghai Composite and Emerging Markets looked to consolidate, with the Shanghai Composite doing so in a downtrend. Volatility looked to remain low but slowly trending higher making a hard way for the equity index ETF’s SPY, IWM and QQQ, which all looked better to the downside, despite some signs of possible reversals.
The week played out with Gold consolidating before leaking lower towards the end of the week while Crude Oil drifted higher in a tight range. The US Dollar held a tight consolidation week before moving higher Friday while Treasuries held at the highs. The Shanghai Composite continued its move lower with Emerging Markets following lower as well. Volatility held in a tight range, arresting the uptrend. These influencers did nothing to stop the trend lower in the Equity Index ETF’s, with the SPY, IWM and QQQ all continuing lower. 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)
- 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
- Premium Earnings 3-25-15
- First is the Worst, Second is the Best….
- Container Ship Stocks are Sailing Higher