Macro Week in Review/Preview January 4, 2013
- Posted by Greg Harmon
- on January 4th, 2013
Last week’s review of the macro market indicators suggested, as the last day of 2012 approached Gold continued to look lower while Crude Oil showed an upside trend continuing. The US Dollar Index and US Treasuries seemed content to move sideways with US Treasuries biased higher and the Dollar Index lower. The Shanghai Composite and Emerging Markets were both biased to the upside with risk of Emerging Markets consolidating further first. Volatility jumped and was looking to be relatively higher than recently switching the bias for the equity index ETF’s SPY, IWM and QQQ, lower, with the QQQ looking the worst and IWM the strongest.
The week played out with Gold moving higher before getting shellacked late in the week while Crude Oil moved up to short term resistance. The US Dollar broke higher and Treasuries lower, the opposite of the chart set ups. The Shanghai Composite continued to to move higher in a very short week while Emerging Markets gave up some of their gains, after making new highs. Volatility dropped off giving back all of the up move and some from last week. The Equity Index ETF’s jolted higher on the New Years Eve session and followed that with a gap and hold the rest of the week, strong. 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)
- VMWare shows real and relative strength
- Premium Earnings 8-3-15
- Top Trade Ideas for the Week August 3, 2015: Bonus Idea
- Top Trade Ideas for the Week of August 3, 2015: The Rest
- Top Trade Ideas for the Week of August 3, 2015: The Rest Premium
- Top Trade Ideas for the Week of August 3, 2015: The Best
- SPY Trends and Influencers August 1, 2015
- Macro Week in Review/Preview July 31, 2015
- How This Week’s Premium Top 10 Performed
- Premium Earnings 7-31-15