UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Tuesday, September 18, 2012
SPX vs Financials vs Emerging Markets
The Daily chartgrid and the 2-day graph below of the 9 Major Sectors show that profit-taking has occurred since last Friday, particularly in the riskier Offensive Sectors, while some of the Defensives have made some gains...Technology and Industrials are in a neutral holding pattern.
A break and hold below trendline support on the SPX, XLF, and EEM may see further flight from the Offensive Sectors and into the Defensive Sectors...otherwise, I'd expect to see money flow back into the higher risk Sectors as they continue their trek upwards...ones to watch.