WELCOME

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.

Dots

...If the dots don't connect, gather more dots until they do...

Crocuses

Crocuses

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. Feb. 19 ~ U.S. markets closed for Presidents Day Holiday
* Wed. Feb. 21 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 7 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 9 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. May 2 @ 2:00 pm ET ~ FOMC Announcement
*** Click here for link to Economic Calendars for all upcoming events

Friday, February 09, 2018

Brief Government Shutdown Ends as 2-Year Budget Deal Reached

In the early hours of Friday, Congress passed a 2-year budget that boosts spending by $300 Billion and suspends the debt ceiling for a year, which President Trump has signed. So, after a short government shutdown at midnight on Thursday, the government has re-opened for business.


As of 12:55 pm ET, this news hasn't had a positive impact on equities, as Major Indices are down again, so far, today, as shown on the 2-month daily charts below.


And, the heat map below shows overnight percentage losses in other world markets, as well as current losses in North and South America.

Source: CNBC.com

* UPDATE @ 2:20 pm ET...

The SPX nearly tagged its near-term major support level of 2500 today (as I described here). However, the following daily comparison chart shows that 10-YR rates have held near their recent highs, during the recent correction of the SPX.

Whether rates continue to hold or push higher on any recovery in equities, and whether they will materially impact the extent of such recovery, remains to be seen. I should be able to provide further commentary about that by Monday.