ECONOMIC EVENTS & NEWS
NEWS!
Markets selloff at opening bell, but once the markets in Europe closed, U.S. markets rallied steadily off their lows to close above its 200-day moving average (2,075). Thanks to the intraday recovery, seven sectors registered gains while three groups finished in the red. With all the action today, very few changes at all in the trends of the markets or sectors.
Basically one important one: the XLF now more bearish than neutral.

M- Macy’s misses earning down 5% 

CSCO – Cisco Beats earnings – up 1 pt. after hours

Link to this news click here

S&P 500 sits on 200 day moving average as support still.

Fedwatch link for rate hike predictions= Sept. 61.4%
Option volatility VIX spikes to 14.33 but closes at 13.71

This week to watch on economic calendar:  tomorrow = Retail & Natural Gas
Tuesday – Productivity numbers = slightly less than predicted
Wednesday – Dudley speaks – Oil Inventory numbers =  drawdown of -1.68 mil barrels
Thursday – Retail numbers , Natural Gas Inventory numbers
Friday – PPI , Michigan Sentiment report

Major earnings to move markets
Wed. – M (Macys), Cisco (Cisco)
Thur. – KSS (Kohls) , JWN (Nordstroms)

MARKETS
(click on symbol for chart)
SPX –  Bear – Slightly, Look for close below 200 MA then 2063
DOW–  Bear
Nasd –  Neutral to bearish almost confirmed bearish
Russ –  Bear

VIX –  13.61 (down .10) but spiked early to 16.28
Archa Hi  vs Low =  -Negative still Bearish even more than yesterday

 

SECTORS – trend on daily chart (click symbol for chart)

Materials (XLB) – Bear
Energy (XLE) –    Bear
Financials (XLF) – Neutral to bearish
Industrials (XLI) – Bear
Technology (XLK) – Bear
Staples (XLP) –   Bull
Utilities (XLU) –  Bull
Healthcare (XLV) –  Neutral
Discretionary (XLY) –  Neutral, going to be affected by retail numbers this week
Mining (XME) –    Bear
Real Estate (IYR) –  Bull – slightly
Retail (RTH) –    Neutral ( affected by retail numbers this week)
Transports (IYT) – Bull

Oil (USO) – Bear
Ag (DBA) – Bear
GLD –   Bear
SLV –    Neutral to bullish

WORLD WATCH
VEU – world markets – USA companies – BEAR
EEM – global emerging markets- BEAR big time

THE DOLLAR
UUP – USD weighted ETF – Bullish to Neutral, triple top formed, watch for breakout, just closed below the 20 ema

COACHES TRADING THOUGHTS

China is the focus with the ripple down affect of Chinese Yuan.  After hours trading bring surprises.
Therefore, take profit quickly and expect shakeouts; which means getting triggered in then stopped out quickly.  To learn more about Chinese currency war, effect click here for our video.

I’m watching the sectors that trends are in bold  above
Still like the bears team going into this week; especially in the Industrial sector. If I favor the bulls, the staples have pulled back a bit after a nice bullish run. Utilities going bullish recently could be a flight to safety. This Chinese currency war could be big to the markets.

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