Bulls Must Pick It Up, or……

Investor’s first readDaily edge before the open

DJIA:  17,702
S&P 500: 2,075
Nasdaq  Comp:5,067
Russell 2000: 1,178

Thursday:  Nov. 12, 2015   7:56 a.m.

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      Three Fed officials speak today – James Bullard (9:05), Jeffrey Lacker (9:45),and Charles Evans (10:15). It will be interesting what their spin will be on the possibility of  a December 16 rate increase.

      Unfortunately, the Fed has stolen the spotlight, upstaging all other considerations for determining the valuation of securities.

      As I have often said, this business is complicated by the fact there are always several balls up in the air, any one of which can come down unexpectedly to change the picture.

      Currently, those balls include 2016 earnings, a highly unpredictable Mid-East, the potential for an international monetary crisis, and something nobody has thought of yet.

TODAY:

      The market has been in a consolidation mode for six days, with the potential for a sharp move up or down at any point.

       The November – April six months period  has earned the reputation as the “Best Six Months” of the year (May 1 to August the worst six months*).  It is hard to deny consistent patterns, except to call attention to the possibility counter moves will occur, i.e. a sharp correction, or more than one, during the best six months  and a sharp rally during the worst six months.

       The Street would like to run stocks higher, but buyers are hesitant with an interest rate increase looming in mid-December.

        However, there is just enough buying to head off a major sell off (so far). 

I can see a 5-day, 500-point move in the DJIA either way this month.               

 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

SUPPORT “today”: DJIA:17,593; S&P 500:2,062; Nasdaq Comp.:5,036

RESISTANCE “today”: DJIA:17,756; S&P 500:2,081;Nasdaq Comp.:5,082

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 7, 2015,  a reasonable risk is 17,731 a more extreme risk is 17,590. Near-term upside potential is 18,237.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION: Suddenly, odds of a December bump up in interest rates has increased dramatically. Over the years, the market has sold off when it appeared that an increase was imminent.  It did not do so after the announcement Friday, but did on Monday as the Street began projecting the timing of subsequent rate increases in 2016 – 2017.
    //////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

*Stock Trader’s Almanac

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

 

Bulls Want It More ??

Investor’s first readDaily edge before the open

DJIA:  17,758
S&P 500: 2,081
Nasdaq  Comp:5,083
Russell 2000: 1,187

Wednesday:  Nov. 11, 2015   9:11 a.m.

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      The good news is, the market didn’t follow through on Monday’s decline,

The bad news is, the Fed is holding the Street captive to a decision that at the earliest will come in December, at the latest sometime in 2016.

      For better or worse, the Street should be focused on earnings Q4 and 2016,  economic developments here and abroad, Congressional dysfunction and the Mid-East, since these are issues that really determine whether a market is under or over valued.

TODAY:

      In limbo !  Bulls are afraid to get too in too deep. Bears can’t orchestrate enough fear of a Fed bump in interest rates to drive stocks lower.

      It is positive that the market closed near the highs for the day on Tuesday (a unexciting one-day reversal).  But the market closed at the highs for the day Friday only to plunge sharply Monday.

      One-day reversals up or down,  are most meaningful when they span a wide range between high and low for the day and reverse the market’s direction on heavy volume. That kind of action indicates a major change in sentiment.

      This is Veterans Day. The stock market will be open, but banks are closed.

      If you know a veteran, take a moment to ask about their service, more importantly, indicate your appreciation for the sacrifices they and their families made.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,678; S&P 500:2,071; Nasdaq Comp.:5,078

RESISTANCE “today”: DJIA:17,796; S&P 500:2,083;Nasdaq Comp.:5,083

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 7, 2015,  a reasonable risk is 17,731 a more extreme risk is 17,590. Near-term upside potential is 18,237.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION: Suddenly, odds of a December bump up in interest rates has increased dramatically. Over the years, the market has sold off when it appeared that an increase was imminent.  It did not do so after the announcement Friday, but did on Monday as the Street began projecting the timing of subsequent rate increases in 2016 – 2017.
    //////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

Market Now Needs to Find a Comfort Level

Investor’s first readDaily edge before the open

DJIA:  17,730
S&P 500: 2,078
Nasdaq  Comp:5,095
Russell 2000: 1,184

Tuesday:  Nov. 10, 2015   8:58 a.m.

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      The chances that the Fed would bump its federal funds rate up in December  increased dramatically with the big spike in the jobs report last Friday before the open.

      The Street was stunned, but didn’t stampede for the exits when the market opened.  The market closed Friday practically unchanged.

      I offered two scenarios.

      If the Street has finally opted for a pick up in the economy vs. a continuation of low rates, stocks will edge up, especially if reports on the economy continue to improve.

      If there is a delayed reaction here, that a bump in rates is bearish, the market must sell off to a level that discounts the problems the Street believes will result from Fed action.

      Yesterday’s sell off suggests the latter, but a few more days will be needed to confirm that.

      The December FOMC meeting is two months away, a lot can happen to influence a Fed decision on rates one way or the other.

      This “will they” or “won’t they” dilemma has haunted the Street for years, creating a lot of volatility, and I imagine a lot of portfolio losses.

      The Fed doesn’t want to kill an economic recovery with an untimely rate increase, but if the wait long enough it will die on its own.

      Realistically, if the economy and stock markets cannot survive in face of one or several small rate increases, there is little hope for either.

      I do not trust the mentality of the Street. I have been writing about the stock market for many years, and this is a phony market, hanging by a thread.

      That said, the stock market is still capable of being pushed much higher  by a fixation on the Fed, and little else.

       Most  of us know, as soon as the first bump in rates is announced, the Street will begin worrying about the next with a return to the “will they/won’t they” dilemma all over again.

      Unfortunately, this is the meal investors are being served.  Eat it, or go hungry.     

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,621; S&P 500:2,066; Nasdaq Comp.:5,059

RESISTANCE “today”: DJIA:17,813; S&P 500:2,088; Nasdaq Comp.:5,109

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 7, 2015,  a reasonable risk is 17,731 a more extreme risk is 17,590. Near-term upside potential is 18,237.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION: Suddenly, odds of a December bump up in interest rates has increased dramatically. Over the years, the market has sold off when it appeared that an increase was imminent.  It did not do so after the announcement Friday, but did on Monday as the Street began projecting the timing of subsequent rate increases in 2016 – 2017.
    //////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

Change of Heart ? Street Now OK with Rate Bump ?

Investor’s first readDaily edge before the open

DJIA:  17,910
S&P 500: 2,099
Nasdaq  Comp:5,147
Russell 2000: 1,199

Monday:  Nov. 9, 2015   8:58 a.m.

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      Suddenly a trade off emerges for the Street – which is more bullish, a pick up in the economy, or no action on interest rates by the Fed ?

      Shortly after the Fed implemented its zero-based federal funds policy in 2008, maintaining rates at that level  become the Street’s lifeline.

      Over the years, speculation that the Fed would turn to higher rates turned stocks down, assurance by the Fed it wouldn’t, turned them back up.

      A huge jump in Friday’s 8:30 Employment Situation  report vastly increased the odds the Fed will announce it has raised  its fed funds rate at its FOMC meeting December 16.

      Prior to the jobs report, odds were against Fed action in December. An unexpected jump in new hires should have crushed stocks at the open Friday.

      It didn’t !  The inability of the market to tank at the open Friday, encouraged buyers to step in, heading off an ugly plunge.

      If the Street has finally opted for a pick up in the economy vs. a continuation of low rates, stocks will edge up, especially if reports on the economy continue to improve.

      If there is a delayed reaction here, that a bump in rates is bearish, the market must sell off to a level that discounts the problems the Street believes will result from Fed action.

 >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

SUPPORT “today”: DJIA:17,778; S&P 500:2,084; Nasdaq Comp.:5,111

RESISTANCE “today”: DJIA:17,973; S&P 500:2,106 ; Nasdaq Comp.:5,165  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 7, 2015,  a reasonable risk is 17,731 a more extreme risk is 17,590. Near-term upside potential is 18,237.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION: Suddenly, odds of a December bump up in interest rates has increased dramatically. Over the years, the market has sold off when it appeared that an increase was imminent.  It did not do so after the announcement Friday.  A couple days may change that as the Street begins projecting the timing of subsequent rate increases in 2016 – 2017.
    //////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

 

 

 

Odds Increase for Fed Bump in Rates

Investor’s first readDaily edge before the open

DJIA:  17,863
S&P 500: 2,099
Nasdaq  Comp:5,127
Russell 2000: 1,190

Friday:  Nov. 6, 2015   9:11 a.m.

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      This bull market is 6 ½ years old. In that time, the S&P 500 has risen 220%, the Nasdaq Composite 313%. This is the second longest bull market, the 1990 – 1998 bull lasted 93 months and rose 304% (S&P 500).

      That’s powerful stuff ! 

      What is missing ?

      Rank speculation – over-the-top urgency to own stocks by savvy investors, more so, un-savvy investors, most new to the scene.  People are not leaving good jobs to trade the market for a living.  People are not talking stocks on the golf course, beauty solons, locker rooms, water coolers, church, airports, household, etc.

      This has been a private party – moneyed investors and the “pros.” The public is mostly absent.

      That may not happen in this bull market. The Silent Gen (87 – 70) is hunkered down and boomers (69 – 51) easing into a change in lifestyle leaving Gen “X” (50 – 35) and the Millennials (34 – 26) to run stocks of good and dubious value into the stratosphere.

      If by chance it does, this will become the grandest bull market of all time, followed by a monstrous crash.

TODAY:

      The Fed is leaning toward a December 16 bump up in interest rates, the first change since 2008.

       This bull market (March 9, 2009 – present) has gotten its legs from the likelihood of a zero-based interest rate policy continuing indefinitely.

       With the October jobs report at 271,000 new hires exceeding all projections, the odds of a Fed bump in rates increases dramatically.

       The Street will now have to decide if “good is good,” a stronger economy but the trade-off being slightly higher interest rates, vs the long-standing belief and driver of the bull market that “bad is good” since it ensured  no-action by the Fed.                                                                                                                                  >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

SUPPORT “today”: DJIA:17,687; S&P 500:2,076; Nasdaq Comp.:5,071

A one-day reversal to the upside here would of course be very bullish. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 2, 2015,  a reasonable risk is 17,450 a more extreme risk is 17,364. Near-term upside potential is 17,878.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

 

 

December Rate Hike Back in News

Investor’s first readDaily edge before the open

DJIA: 17,867
S&P 500: 2,106
Nasdaq  Comp:5,142
Russell 2000: 1,190

Thursday:  Nov. 5, 2015   8:46 a.m.

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      At 10 o’clock yesterday, Fed Chief Janet Yellen said an improving economy sets the stage for a December interest-rate hike, if the economy continues to improve. “A rate hike would be a   live possibility,” she said.  New York Fed President William Dudley agreed.

      To its credit, the stock market did not fall apart

      The market has momentum. Each time it pulls back, buyers step in. The DJIA, S&P 500 and Nasdaq Comp. are chewing through levels that produced sellers over the last six months without much trouble even with increasing prospects that the Fed will announce its first bump in interest rates since it implemented its zero-based fed funds policy in 2008 to head off a global meltdown.

      News on the economy is mixed, the international scene is getting more precarious. Q3 earnings are a bit better than expected, but @4 looks worse.

      Risk increases with each move up in prices after a 12.6% surge in the S&P 500 in a month. Yet, each uptick seems to convince the Street the market is going higher.

      The fact the market had a mini crash in August and can recoup that loss in two months without any significant change in the underlying fundamentals is a warning that conventional methods of valuing securities is of little value.   

      Timing for buys and sells is critical, yet conventional timing parameters are inconsistent at times. There is little correlation between moves in the market and fundamentals, except for perceptions of what the Fed will do on interest rates.                                                                                                                                       >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

SUPPORT “today”: DJIA:17,791; S&P 500:2,093; Nasdaq Comp.:5,121

RESISTANCE “today”: DJIA:18,007; S&P 500:2,118; Nasdaq Comp.:5,189

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 2, 2015,  a reasonable risk is 17,450 a more extreme risk is 17,364. Near-term upside potential is 17,878.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

 

Fed-speak to Turn Hawkish ?

Investor’s first readDaily edge before the open

DJIA:  17,918
S&P 500: 2,109
Nasdaq  Comp:5,145
Russell 2000: 1191

Wednesday:  Nov. 4, 2015   9:03 a.m.

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      Gary Shilling, widely respected economist and publisher of INSIGHT, does not expect a rate increase in December, in fact he sees its “zero-rate policy in place well into next year and even beyond in the face of tepid economic growth and inflation rates well below the central bank’s  2% target.”

      We may find out today if the Fed agrees with Shilling, who has been spot-on with economic issues going back for years, having called the great recession  and its fallout well ahead of the crunch.

      Fed Chief Janet Yellen speaks at 10:00 a.m., today followed on Thursday by  the Fed’s  William Dudley and Stanley Fischer at 8:30 a.m. and 9:10 a.m. respectively.

      Yellen, Dudley and Fischer are heavy hitters and there is no FOMC meeting scheduled for this month, so they may feel a need to bridge the gap.

      Right now, the Street is not expecting a rate increase this year, as evidenced by the surge in stock prices in recent weeks.

      Do not be surprised if the Fed trio is now more hawkish on a rate increase in December when they speak today and tomorrow.  

      Granted the FOMC voted 9-1 last month to hold rates at present levels, but

 the U.S. and global economies are looking a bit more upbeat than a month ago.

      China is determined to recoup a slumping growth rate, and suddenly the major economies in Europe are perking up per the latest Eurozone PMI report released today.   

      While some economic reports have really been positive, certain factors portray them as  negative.  While the annual growth rate of Q3 GDP came in at 1.5% vs, 3.9% in Q2, it would have been higher if it weren’t for a big reduction in inventories. That bodes well for future quarters if businesses rebuild to accommodate increasing demand. 

       September’s retail sales (0.1%) would have been higher if it weren’t for a 3.2% drop in service station  revenues as a result of plunging gas prices.  Apparently, the consumer  savings on gas haven’t found their way back into the economy (yet).

       Motor vehicles sales continue to track a banner year, though  Factory Orders continue to suffer from a slump in exports, down 1.0% for the 11th decline in 14 months.

       At 8:30 today the ADP Employment Report for October came in at 182,000 jobs added, a good showing, but the big report comes at 8:30 a.m. Friday with the Employment Situation report.

      

     

     

     

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,786; S&P 500: 2,093; Nasdaq Comp.:5,101

RESISTANCE “today”: DJIA:18,087; S&P 500:2,129; Nasdaq Comp.:5,193

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 2, 2015,  a reasonable risk is 17,450 a more extreme risk is 17,364. Near-term upside potential is 17,878.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

Best of All Worlds ?

Investor’s first readDaily edge before the open

DJIA:  17,828
S&P 500: 2,104
Nasdaq  Comp:5,127
Russell 2000: 1,186

Tuesday:  Nov. 3, 2015   9:09 a.m.

///////////////////////////////////////////////////////////////////////////////////////////////////////// 

      What could be better than an economy that is holding its ground, but not so strong the Fed can justify an bump in interest rates ?

      We may have just that, clearly the market is acting like it.

       While the DJIA, S&P 500 and Nasdaq Comp. have not hit new all-time highs they have recouped most of their losses from highs posted earlier in the year. The Russell 2000 lags.

        From the close yesterday, a new all-time high would only take a move of  2.9% for the DJIA, 1.5% the S&P 500 and 2.0% for the Nasdaq Comp.. The smaller company Russell 2000 needs a move of 9.3% to hit its all-time high.

      The market in deep into resistance territory where sellers would be expected.  After all, these are levels where the market ran into a wall between March and June with persistent selling continuing at lower prices in July and August when stock prices plunged precipitously to the August 24 lows.

      So far, there has not been enough resistance to slow the surge starting in early October.

      Yesterday’s economic reports were upbeat with the PMI manufacturing report  for October at a 6-month high, Construction spending for September beating projections, and the ISM manufacturing Index holding at the same level as in the last two months. Today we get Factory Orders at 10 o’clock.

      Tomorrow, Fed Chief Janet Yellen speaks at 10:00 a.m., with  the Fed’s  William Dudley and Stanley Fischer speaking at *:30 a.m. and 9:10 a.m. respectively on Thursday.  All three are heavy hitters.

      So, do we get some clarity on when the Fed will bump rates ?

      It would be the first.

      The Fed may have raised rates at its September meeting had it not have been concerned for global economics.  Those concerns appear to have lifted, so a Fed decision depends on reports on the U.S. economy over the next six weeks.

      Be prepared for an impact on the stock and bond markets in coming days as a result of comments from these three.

     

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,773 ; S&P 500: 2,097; Nasdaq Comp.:5,111

RESISTANCE “today”: DJIA:17,956; S&P 500:2,117; Nasdaq Comp.:5,156

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 2, 2015,  a reasonable risk is 17,450 a more extreme risk is 17,364. Near-term upside potential is 17,878.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

Probing High Resistance Zone

Investor’s first readDaily edge before the open

DJIA:  17,663
S&P 500: 2,079
Nasdaq  Comp:5,053
Russell 2000: 1,161

Monday:  Nov. 2, 2015   8:49 a.m.

///////////////////////////////////////////////////////////////////////////////////////////////////////// 

 FOMC (Fed Open Market Committee)  voted 9 – 1 last month to stand pat on current policy.

      Economic indicators which would justify a rate increase at its December 16 meeting are mixed.  While Q3 GDP came in at an annualized rate gain of 1.5 pct., it would have been higher if inventory build hadn’t eased in face of uncertainties.

      Firming in the quarter-to-quarter Employment Cost Index (ECI) suggests some wage pressure.

      Household spending remains firm on a quarterly basis. Durables, especially vehicles, and “service” spending, has been good.

      Unfortunately, one of the economy’s strongest sectors, housing, has turned down. Pending Home Sales  dropped due to a lack of low-priced houses for sale discouraging first-time buyers, even with rents soaring. New Home Sales  are soft, as well.

      The consumer sentiment index and Bloomberg consumer comfort index are easing.

      The Chicago PMI (purchasing manufacturers index) jumped in October, the best reading since January.

      The Fed’s pet indicator, the Personal Consumption Price Index (PCE), rose 0.2 percent, smallest since April. The core index remains flat  and below the Fed’s 2 pct. trigger.

Q3 earnings are only a tiny bit better than expected, with guidance going forward tracking lower.

      This week will yield a host of important economic reports with PMI Mfg. coming at 9:45 today, ISM Mfg. and Construction Spending at 10 a.m.. Of major importance will be the ADP Employment report at 8:15 a.m. Wednesday  and the Employment Situation report at 8:30 Friday.

      It’s much too early to speculate of what the Fed will do in December, though the Street and pundits will.

BOTTOM LINE:

      Mixed !  Could go either way.  Monthly data gives a different picture than quarter-to-quarter data.  If the Fed doesn’t bump interest rates with an unpredictable reaction in the securities markets and economy, they have to do it in an presidential election year.

      So far, the Street is getting its marching orders from the Fed, with little impact from corporate earnings and risks of an economic downturn after six years of expansion, however modest.

      The markets ability to bounce back after a sell off suggests there is no risk in owning stocks.  This will lead investors (pros included) to some major losses when the market tops out. Investors will see the initial decline as an opportunity to buy more. That will be followed by another leg down, and so on.  Support levels where the market is expected to turn back up give way. By the time investors realize it’s a bear market, they are down 20% – 30% or more.

      That will happen, the only defense is to have a cash reserve in line with your tolerance for risk and be aware of the risk, no matter how exciting and invulnerable the market acts.

      We do not yet see over-the-top speculation, where easy money is made in undeserving stocks, and investors who have no reason to be making easy money are raking it in (and talking about it).

      The biggest hurdle will be how the market digests a Fed rate hike. We may see a brief, but sharp, sell off, followed by a surge in prices.

       Then too, the Street may see the hike, however small, to be just one of a series of hikes, and stampede for the exits.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,595; S&P 500:2,071; Nasdaq Comp.:5,033

RESISTANCE “today”: DJIA:17,727; S&P 500:2,086; Nasdaq Comp.:5,071

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  November 2, 2015,  a reasonable risk is 17,450 a more extreme risk is 17,364. Near-term upside potential is 17,878.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk

 

 

 

 

 

 

 

A “Single-Issue” Stock Market – The Fed

Investor’s first readDaily edge before the open

DJIA:  17,755
S&P 500: 2,089
Nasdaq  Comp:5,074
Russell 2000: 1,165

Friday:  Oct. 30, 2015   9:04 a.m.

///////////////////////////////////////////////////////////////////////////////////////////////////////// 

 Expect the market to keep probing into increased overhead supply, investors selling now that prices have returned to levels from which they plunged in August, as well as profit takers who bought in after the August 24 flash crash.

      Fed policy on interest rates is off the table for now. With no FOMC meeting in November, the Street won’t be worrying about a bump in rates until December.

      That paves the way for the Street to worry about the prospect for the economy and earnings going forward.

      Bottom line: this is a “single-issue” stock market and the driver is Fed policy on interest rates. It has been for many years.

      At some point that will become a problem, since the Street has not a do-or-die mentality about survival after any increase in interest rates, even a tiny one. As you would suspect, once the first rate increase is implemented, the Street will worry about the next increase and so on.  That’s the kind of stuff that  triggers, and sustains a bear market.

       For some time, I felt the Street could shake off a bump in rates. After all, economies and stock markets in the past were able to co-exist with higher rates, at least up to a point.

      But the Fed had stretched  its zero-based policy out for so long as to condition the Street to believe this bull market couldn’t continue without it. The market notches higher every time the Street’s fears are relieved by assurance a rate increase is not imminent.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

SUPPORT “today”: DJIA:17,706; S&P 500:2,083; Nasdaq Comp.:5,060

RESISTANCE “today”: DJIA: 17,884; S&P 500:2,104; Nasdaq Comp.:5,110

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>.     

NOTE: Support and resistance levels are where I expect the intraday prices of the DJIA, S&P 500 and Nasdaq Comp. to reverse or close. Buyers should be cautious when a resistance level is reached but consider buying when support levels are reached. Sellers should consider taking action when resistance levels are reached and defer selling when support levels are reached. These levels are picked daily and based on my application of technical analysis.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

MY TECHNICAL ANALYSIS  of the 30 DJIA Companies

 On occasion, I technically analyze each of the 30 DJIA stocks  for a reasonable risk, a more extreme risk, and an upside potential over the near-term. I add the results of each, then divide by the DJIA “divisor” (0.149677) to get the DJIA for those levels. This gives me an internal check on the DJIA itself, especially if certain higher priced stocks are distorting the averages,
     As of  October 14, 2015,  a reasonable risk is 17,510 a more extreme risk is 17,430. Near-term upside potential is 18,045.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

  • STATUS OF MARKET: Bullish but “at risk” of  a correction, especially Fed-based
  • OPPORTUNITY: RISK: Risk increases with higher market, but light on the Street is GREEN in spite of negatives.
  • CASH RESERVE: 25% – 45% depends on tolerance for risk.
  • KEY FACTORS:  Fed decision on rates; strength of economic rebound; Outlook for Q3/Q4 earnings; Stimulus Europe/China a catalyst !!
  • CONCLUSION:  Encouraged by the prospect the Fed won’t raise interest rates this year due to softness in the economy, the stock market has exploded from a consolidation area established after the August 24 “flash crash” and has penetrated deep into a resistance area developed when the market broke down  in August.

//////////////////////////////////////////////////////////////////////////////////////////////////////////

Note: Source of economic data

For a weekly economic calendar and good recap of  indicators, go to mam.econoday.com.

…………………………………………………………

George Brooks
Investor’s first read
A Game-On Analysis, LLC publication

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 

Investor’s first read, is a Game-On Analysis, LLC publication for which George Brooks is sole owner, manager and writer.  Neither Game-On Analysis, LLC, nor George  Brooks  is  registered as an investment advisor.  Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. References to specific securities should not be construed  as particularized or as investment advice as recommendations that you or any investors purchase or sell these securities on their own account. Readers are expected to assume full responsibility for conducting their own research pursuant to investment in keeping with their tolerance for risk