Macro Week in Review/Preview December 28, 2012
- Posted by Greg Harmon
- on December 28th, 2012
Last week’s review of the macro market indicators suggested, heading into the last week of the year there was a positive tone in the price action of equities. That said Gold looked to continue lower while Crude Oil rose. The US Dollar Index seemed content to move sideways with a downside bias while US Treasuries were biased lower. The Shanghai Composite and Emerging Markets were biased to the upside with risk of the Chinese market reversing. Volatility looked to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the moves lower to end last week.
The week played out with Gold finding some footing at the 1640 level while Crude Oil did continue higher. The US Dollar moved sideways printing a series of doji candles while Treasuries moved higher to the confluence of the Simple Moving Averages (SMA). The Shanghai Composite consolidated in a tight range before gapping higher again and Emerging Markets held at their higher levels. Volatility continued higher but remained subdued. The Equity Index ETF’s fell back all week moving here and there with the news. 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: Monthly Edition August into September 2014
- SPY Trends and Influencers August 30, 2014
- Macro Month in Review/Preview August into September 2014
- Macro Week in Review/Preview August 29, 2014
- Premium Earnings 8-29-14
- Stocks and Bonds Rising Together – Its Not So Strange
- Keep It Simple: Ford Stock Is Rising So Buy It
- Premium Earnings 8-28-14
- The Relative Weakness in Gold Aint Over Yet
- Eyeing a Meal and a Trade in Buffalo Wild Wings