Tag: DOW (INDEX:DJI)

Fed Rate Anxiety Fades As Existing Home Sales Rise

Posted on by The INO.com Team

Stocks are on the rise Friday, with the S&P 500 bouncing from a seven-week low. The rise has been led by the technology sector with the NASDAQ gaining 1.35 percent. It also seems that anxiety over the potential interest rate hike by the Federal Reserve as early as next month is starting to wain a bit.

MarketClub's Mid-day Market Report

Sales of existing U.S. homes rose more than expected in April, suggesting the economy continues to gather pace during the second quarter. The National Association of REALTORS said on Friday that existing home sales increased 1.7 percent to an annual rate of 5.45 million units. March's sales pace was revised slightly higher to 5.36 million units from the previously reported 5.33 million units.

Key levels to watch this week: Continue reading "Fed Rate Anxiety Fades As Existing Home Sales Rise" →

Stocks Bounce Ahead Of Fed Minutes

Posted on by The INO.com Team

The stock market has headed higher after a sluggish start this morning. All three major averages have bounced back into green territory late this morning, with financial shares leading the way as investors are awaiting the release of the Fed minutes this afternoon and looking for any clues of a June interest rate hike.

MarketClub's Mid-day Market Report

Gold (FOREX:XAUUSDO) has pulled back and is trading lower coming under pressure from a U.S. Dollar (NYBOT:DX.M16.E) rally that has pushed it to a new 2 week high.

Key levels to watch this week: Continue reading "Stocks Bounce Ahead Of Fed Minutes" →

Dollar Jumps After Retail Sales Report

Posted on by The INO.com Team

Hello MarketClub members everywhere. The Dollar has rallied while U.S. stocks have fluctuated this morning. The reason for the jump is retail sales; retail purchase jumped in April to the highest levels in a year. This indicates that consumer spending could help the U.S. economy recover from its early-year slowdown and possibly give the Fed a reason to raise rates next month.

MarketClub's Mid-day Market Report

Purchases climbed 1.3 percent last month, beating the economists estimates of a 0.8 percent gain. It's the biggest gain since March 2015 and comes after a 0.3 percent March drop that was smaller than previously reported, Commerce Department figures showed Friday in Washington. Continue reading "Dollar Jumps After Retail Sales Report" →

The Next Big Swing In Stocks

Posted on by The INO.com Team

Over the weekend I was analyzing the charts and it appeared to me that with Friday's red Trade Triangle on the S&P 500 that stocks have topped out. The similarity between August and September and this January and February is quite startling. If the same pattern holds true then the next big swing in the stock market will be to the downside.

Already we have seen weekly Trade Triangles in the NASDAQ (NASDAQ:COMP) and just recently in the S&P 500 (CME:SP500). These weekly red Trade Triangles many times act as early warning system and are a strong indicator to move to the sidelines in the case of the Indices.

I would not be surprised to see more back-and-forth choppy trading action before the market eventually falls under its own weight.

I am looking for stocks to make a cyclical low sometime in June if the same cycle holds true.

Daily Chart S&P 500 (CME:SP500)

S&P 500 Chart Legend

1. First Low
2. Pivot Point
3. Second Low
4. Cyclic High
Continue reading "The Next Big Swing In Stocks" →

U.S. Job Growth Misses Estimates

Posted on by The INO.com Team

Hello MarketClub members everywhere. The U.S. economy created 160,000 jobs in April vs. the estimated 202,000 that economist were expecting, However, the unemployment rate held steady at 5 percent.

On a brighter note, wages rose during the month, with average hourly earnings up 8 cents an hour, representing a 2.5% annualized gain. The average work week also edged higher to 34.5 hours, according to the Bureau of Labor Statistics.

MarketClub's Mid-day Market Report

The indexes fell briefly after the report was announced this morning, but have since regained some ground and are currently trading close to their market open.

Key levels to watch this week:
S&P 500 (CME:SP500): 2,111.05
Dow (INDEX:DJI): 17,580.38
NASDAQ (NASDAQ:COMP): 4,969.32
Gold (FOREX:XAUUSDO): 1,294.11
Crude Oil (NYMEX:CL.M16.E): 46.07

Every Success,
Jeremy Lutz
INO.com and MarketClub.com