Macro Month in Review/Preview December into January 2013
- Posted by Greg Harmon
- on January 1st, 2013
Last month in this space my Monthly Macro Review/Preview had the monthly outlook suggesting continued consolidation in their ranges for the metals Gold and Copper, along with Crude Oil. Natural Gas retained the bullish bias but with topping signs. The US Dollar Index and US Treasuries both looked to continue a pause in their long term uptrends, with the Dollar biased lower. Foreign markets were mixed with the Shanghai Composite looking horrible and the German DAX very good, but Emerging Markets in consolidation. Volatility could go either way but looked to remain above the lower range experienced in the last six months with the VIX in a narrow range between 15 and the low 20′s. With low volatility, the Equity Index ETF’s SPY, IWM and QQQ were set up to continue higher in the coming months, but the current consolidation might continue for a little first. A major move by the Dollar or Treasuries lower or the Shanghai Composite higher could boost US Equities, whereas renewed strength in the Dollar or Treasuries could create a pullback. How does an additional month impact the longer term picture? Let’s look at some charts.
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)
- I Love US Steel, So I’m Getting Short It
- Only Practice Risk Management Part Time?
- Premium Earnings 8-21-14
- Buying Some Energy
- You’ve Got Mail – Reopening AOL Long or Short
- Premium Earnings 8-20-14
- The Sneaky Dollar Breakout
- 3 Reasons to Buy H&R Block Outside of Tax Season
- Premium Earnings 8-19-14
- The Nasdaq 100 – What If?…..