Macro Week in Review/Preview January 11, 2013
- Posted by Greg Harmon
- on January 11th, 2013
Last week’s review of the macro market indicators suggested, as the financial markets got back to full strength to look for Gold to continue lower while Crude Oil continued higher. The US Dollar Index seemed ready to continue higher while US Treasuries headed lower, with a chance that each may consolidate. The Shanghai Composite and Emerging Markets were biased to the upside with the possibility that each may also rest. Volatility looked to remain low and may continue lower keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite the big moves higher last week. Their charts all looked higher as well with the IWM the strongest followed by the SPY and the QQQ pulling back or possibly consolidating.
The week played out with Gold mocking the charts and moving higher only to give it back Friday while Crude Oil basically consolidated. The US Dollar held higher until a crash down late in the week while Treasuries held lower. The Shanghai Composite consolidated its gains while Emerging Markets gave up some of their gains, and tested support. Volatility continued at unusually lower levels for recent history. The Equity Index ETF’s continued higher with the SPY, IWM and QQQ all finishing near the highs of the week. 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)
- Top Trade Ideas for the Week of October 5, 2015: The Best
- SPY Trends and Influencers October 3, 2015
- Macro Week in Review/Preview October 2, 2015
- How This Week’s Top 10 Performed, October 2, 2015
- The US and China living in Harmony
- Picking up a seasonal bargain in Tractor Supply
- Premium Earnings 10-1-15
- I still like the US Dollar
- Going Shopping for Ascena Retail Group
- Waiting for the Right Moment to Buy?