ECONOMIC EVENTS & NEWS
NEWS!
Very little change in markets. July PPI beats expectations slightly; .2% versus .1% expected.
Michigan Sentiment report- declined very little. No big impact on markets.
JWN- Nordstroms Beats earnings – up 5% after hours, then maintained gap up today and is trying to fill gap.
S&P 500 sits on 200 day moving average as support still.
Fedwatch link for rate hike predictions= Sept. 55%
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 – No impact on markets – boring!
MARKETS
(click on symbol for chart)
SPX – Bear – Slightly. Look for close below 200 MA then 2063
DOW– Bear – (The almighty Death Cross Looms)
Nasd – Neutral to bearish almost confirmed bearish
Russ – Bear
VIX – 13.49 (down .12) but spiked early to 14.33
Archa Hi vs Low = -Negative; still bearish
SECTORS – trend on daily chart (click symbol for chart)
Materials (XLB) – Bear
Energy (XLE) – Bear- WATCH for swing hi trigger here on friday
Financials (XLF) – Neutral
Industrials (XLI) – Bear
Technology (XLK) – Bear
Staples (XLP) – Bull
Utilities (XLU) – Bull
Healthcare (XLV) – Neutral
Discretionary (XLY) – Neutral to bearish, going to be affected by retail numbers this week
Mining (XME) – Bear
Real Estate (IYR) – Bull
Retail (RTH) – Neutral to Bull – look for triggers here for calls on stock in this sector
Transports (IYT) – Bull
Oil (USO) – Bear
Ag (DBA) – Bear
GLD – Bear
SLV – Neutral to bullish, watch for support to hold on 20 ema to go bullish
WORLD WATCH
VEU – world markets – USA companies – BEAR
EEM – global emerging markets- BEAR big time
THE DOLLAR
UUP – USD weighted ETF – Bearish , watch 25.03 as support.
COACHES TRADING THOUGHTS
China is the focus with the ripple down affect of Chinese Yuan. To learn more about Chinese currency war, effect click here for our video.
Next week brings Housing starts, CPI, Philly fed and Leading indicators. The main focus is global, the Dollar, Greece, & China.
I’m watching the sectors that trends are in bold above
Still like the bears team going into next week; especially in the Industrial & energy sector. If I favor the bulls, the staples have pulled back a bit after a nice bullish run
and Retail is setting up looking fo triggers on those stocks. Utilities going bullish recently could be a flight to safety. This Chinese currency war could be big to the markets.
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