UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
* Tues. Oct. 26 @ 10:00 am ET - CB Consumer Confidence
* Fri. Oct. 29 @ 8:30 am ET - Core PCE Price Index m/m Data
* Wed. Nov. 3 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Nov. 5 @ 8:30 am ET - Employment Data
* Tues. Nov. 9 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Wed. Nov. 10 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Nov. 12 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Tues. Nov. 16 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Wed. Nov. 24 @ 2:00 pm ET - FOMC Meeting Minutes
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Wednesday, January 06, 2016
New "Sell" Signals on the World Market Index
It would appear that the World Market Index is heading towards 1600 or lower, as we now have new "sell" signals on all 3 indicators on the Daily chart below.
As I mentioned in my post of June 8, 2015, the Shanghai and Nikkei Indices likely hold the key to its fate.
* UPDATE Jan. 7th: 1600, essentially, reached today...price closed at its low of the day. A drop and hold below that level would likely spark U.S. markets to accelerate this week's plunge.
We'll see what Asian markets do over the next few days...Japan's Nikkei Index is -6.65% and China's Shanghai Index is -11.7%, so far, this week, while the S&P 500 Index is -4.93%.
* UPDATE Jan. 8th: 1600 was breached today...price closed below at its low of the day.
The following 5-day comparison chart shows the Dow 30 as the black line at 0.0% (the baseline)...we can see from this that the SPX outperformed the Dow this week. while the NDX underperformed, and the RUT performed the worst. Even if Small-caps continue their weakness next week, we'll need to see weakness ramp up in Large-caps and continue in Technology, if markets are truly in trouble at this point. Otherwise, we may see a dead-cat bounce for awhile, until the plug is pulled in China, once and for all.