Macro Week in Review/Preview January 19, 2013
- Posted by Greg Harmon
- on January 19th, 2013
Last week’s review of the macro market indicators suggested, heading into the week that the broad markets continued to look good but with some caution creeping in. Gold might be bottoming but needed to prove it while Crude Oil continued the trend higher. The US Dollar Index looked to move in a tight range with a downside bias while US Treasuries were biased higher in the downtrend. The Shanghai Composite was finally taking a breather and looked better lower with Emerging Markets consolidating but biased to the upside. Volatility looked to remain subdued and maybe even move lower keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts agreed with the SPY and IWM the strongest and the QQQ’s lagging a bit.
The week played out with Gold continuing along with Crude Oil. The US Dollar started lower but bounced, although remaining in the tight range while the Treasury move higher got kicked back later in the week. The Shanghai Composite consolidated its gains while Emerging Markets did the same. Volatility managed to head lower breaking the recent lows. These allowed the Equity Index ETF’s to continue their slow grind higher led by the SPY and IWM, making new multi-year highs, with the QQQ moving sideways. 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 March 28, 2015
- Macro Week in Review/Preview March 27, 2015
- Trading the Ratio of Oil Servicers to Oil
- Trading 3 Black Crows, A Hammer and On Semiconductor
- Premium Earnings 3-26-15
- Crabs and Sharks in the Gold Chart: Update
- Designing a Spring portfolio improvement trade in Home Depot
- Premium Earnings 3-25-15
- First is the Worst, Second is the Best….
- Container Ship Stocks are Sailing Higher