Macro Week in Review/Preview December 14, 2012
- Posted by Greg Harmon
- on December 14th, 2012
Last week’s review of the macro market indicators suggested, heading into the week that the markets were slowing but positive. Gold looked to consolidate the latest move lower while Crude Oil joined it to the downside. The US Dollar Index was bouncing higher while US Treasuries were set up to move lower or consolidate. The Shanghai Composite and Emerging Markets were biased to the upside with the Chinese market doing so in a downtrend while Emerging Markets were gaining strength. Volatility looked to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. The SPY and IWM seemed strong while the QQQ was the weakest of the 3 and should be the one to watch on a rollover.
The week played out with Gold trading in a tight range around 1700 while Crude Oil held its recent range. The US Dollar found a top and pulled back while Treasuries moved lower. The Shanghai Composite continued its move higher putting an exclamation point on the end of the week with Emerging Markets continuing their gains. Volatility remained subdued and in a tight range. The Equity Index ETF’s peaked with the SPY and QQQ probed higher before pulling back form their midweek highs. 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)
- Looking at Home Depot to remodel my portfolio
- Premium Earnings 7-27-15
- Top Trade Ideas for the Week July 27, 2015: Bonus Idea
- Top Trade Ideas for the Week of July 27, 2015: The Rest
- Top Trade Ideas for the Week of July 27, 2015: The Rest Premium
- Top Trade Ideas for the Week of July 27, 2015: The Best
- SPY Trends and Influencers July 25, 2015
- Macro Week in Review/Preview July 24, 2015
- How This Week’s Premium Top 10 Performed
- Global Macro Backdrop, its all about the Dollar