More weak data released today (Wednesday) shows a big drop in Durable Goods Orders and Mortgage Purchase Applications, as shown below.
All of this weakening data this year points to a slowing economy, not an expanding one. Perhaps at some point, the markets will reflect this. Until then, they remain (in "The Twilight Zone") pushed up against 4-year highs (and all-time highs in some cases)...the result of the Fed's influence (and other Central Banks around the world, particularly Japan), and not the normal laws of market supply and demand. This reminds me of the story, "The Emperor Wears No Clothes"...at some point, the public will wake up (and admit) to reality, and Ben (and his cohorts) will be looking for a new tailor (and possibly updating their Linkedin profiles). ;-)
Data Sources: Nasdaq and ForexFactory
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Aug. 16 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Fri. Sept. 1 @ 8:30 am ET ~ Employment Data
* Wed. Sept. 6 @ 2:00 pm ET ~ Beige Book Report
* Tues. Sept. 19 ~ 2-day FOMC Meeting Begins
* Wed. Sept. 20 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Tues. Oct. 31 ~ 2-day FOMC Meeting Begins
* Wed. Nov. 1 @ 2:00 pm ET ~ FOMC Announcement
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference