roguetrader
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SOX under a little pressure breaking below yesterdays low
COMPQ also testing y'days low
COMPQ also testing y'days low
roguetrader
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Nasdaq market internals negative and deteriorating.
NYSE internals marginally positive but deteriorating as the first hour comes to a close
NYSE internals marginally positive but deteriorating as the first hour comes to a close
roguetrader
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NYSE internals now neutral
Nasdaq internals still negative, but holding steady
Nasdaq internals still negative, but holding steady
hornblower
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Hi Joules
you should have put some fib line on the chart as well
I am unable to post a chart at the moment , must get a new computer
kind regards
H
you should have put some fib line on the chart as well
I am unable to post a chart at the moment , must get a new computer
kind regards
H
Racer
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Comments on yesterdays close from briefing.com
While the data suggested tame pre-Katrina inflation, the market remained cautious ahead of September data that will account for the hurricane's impact, the impending Sept. 20 FOMC meeting and the emergence of potential Q3 profit warnings. Disappointing reads on regional manufacturing activity further weighed on the market's attitude. At 2.2, the Sept. Philadelphia Fed Index plunged well below the 17.5 in Aug. and widely missed an expected read of 13.0. The New York Empire index, meanwhile, checked in at 17.0 (vs. 23.0 in Aug.). Specifically, the prices paid components of those reports fanned inflation fears should producers try to pass higher fuel costs on to consumers, providing the Fed with incentive to keep raising rates.
While the data suggested tame pre-Katrina inflation, the market remained cautious ahead of September data that will account for the hurricane's impact, the impending Sept. 20 FOMC meeting and the emergence of potential Q3 profit warnings. Disappointing reads on regional manufacturing activity further weighed on the market's attitude. At 2.2, the Sept. Philadelphia Fed Index plunged well below the 17.5 in Aug. and widely missed an expected read of 13.0. The New York Empire index, meanwhile, checked in at 17.0 (vs. 23.0 in Aug.). Specifically, the prices paid components of those reports fanned inflation fears should producers try to pass higher fuel costs on to consumers, providing the Fed with incentive to keep raising rates.
Racer
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The session may feature some fireworks, especially later in the day, as Standard & Poor's "full-float" conversion occurs at the end of the session amid "quadruple witching" during the day.
By going to full-float, certain stocks on S&P indexes, including the S&P 500, will see their weightings change, meaning investors who try to emulate the index's performance could, on Friday, find themselves scrambling to buy and sell the shares that are affected so that their portfolios can stay in sync with the weightings on the index.
By going to full-float, certain stocks on S&P indexes, including the S&P 500, will see their weightings change, meaning investors who try to emulate the index's performance could, on Friday, find themselves scrambling to buy and sell the shares that are affected so that their portfolios can stay in sync with the weightings on the index.
Racer
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NEW YORK (Dow Jones)--The University of Michigan's midmonth report on consumer sentiment for September was said to have shown a decrease Friday to 76.9 from 89.1 in August, according to media reports.
Economists surveyed by Dow Jones Newswires had expected to see a reading of 84.0 for preliminary September consumer sentiment.
The private research group's mid-September consumer expectations index was said to have fallen to 63.6 from 76.9 in August.
The early reading on the current conditions index was said to have shown a decrease to 97.7 from August's 108.2.
Economists surveyed by Dow Jones Newswires had expected to see a reading of 84.0 for preliminary September consumer sentiment.
The private research group's mid-September consumer expectations index was said to have fallen to 63.6 from 76.9 in August.
The early reading on the current conditions index was said to have shown a decrease to 97.7 from August's 108.2.
...and add in MI data and I wonder how much more bad news can be piled on top before it seriously crumbles. its hard to think of the markets moving up much on the data this week and the follow through from Katrina not fully accounted for yet. it was never meant to be easy, the market often moves inspite of, not because of the news.
Consumer sentiment; First Take
The University of Michigan Consumer Sentiment Index preliminary final value for September fell 12.2 points to 76.9, the largest one-month decline since December 1980. Both current conditions and expectations fell sharply from the duel hit of higher energy prices and the psychological fall-out from Hurricane Katrina.
NOTE; there is a strong correlation of this sentiment and GDP, expect a sharp drop in consumer spending that will drop GDP
The University of Michigan Consumer Sentiment Index preliminary final value for September fell 12.2 points to 76.9, the largest one-month decline since December 1980. Both current conditions and expectations fell sharply from the duel hit of higher energy prices and the psychological fall-out from Hurricane Katrina.
NOTE; there is a strong correlation of this sentiment and GDP, expect a sharp drop in consumer spending that will drop GDP
All corrective stuff until it corrects itself in to a down move 
With oil and gas surging up on the back of latest hurricane the expected move up is on hold it would seem. See how thing look at 7.30, think I'll wait for a break over 1233 before thinking of longing.
With oil and gas surging up on the back of latest hurricane the expected move up is on hold it would seem. See how thing look at 7.30, think I'll wait for a break over 1233 before thinking of longing.
Gap fully covered now but one more at 1226.5.
Natural-gas futures closed at a record $12.663 per million British thermal units, up 13.6% for the session, while October crude tacked on 7%, or $4.39, to close at a more than two-week high of $67.39 a barrel. Tropical Storm Rita "could impact 4 times as many energy rigs and platforms as Katrina and Ivan combined"
Natural-gas futures closed at a record $12.663 per million British thermal units, up 13.6% for the session, while October crude tacked on 7%, or $4.39, to close at a more than two-week high of $67.39 a barrel. Tropical Storm Rita "could impact 4 times as many energy rigs and platforms as Katrina and Ivan combined"
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