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, April 04, 2018
No Heikin Ashi Candle Reversal Yet on the US Major Indices
Nor have the DJIA, NDX, COMPQ, RUT or OEX HA candles.
Nor have the FAANGs HA candles.
However, yesterday and today's HA candles on the 10 YR T-Notes have flipped from green to red (so far). Do we have a potential reverse Head & Shoulders formation in the making?
If we see a neckline breakout soon that holds (and thwarts that scenario), further equity weakness may continue (watch for the momentum indicator to remain above zero).
Otherwise, such a formation may develop over the next couple of weeks with equities gaining some strength, albeit on elevated volatile price swings. But, first, we'd need to see a green HA reversal candle form and hold on the SPX and the other major indices.
* UPDATE after the close...
Today's HA candle closed just slightly in the green on the SPX...we'll see if that holds and whether a meaningful and sustainable upside reversal comes into play.