The previous week has been surprisingly bullish. I got my call wrong as market remains strong after the weak job and employment number. However it appears to me that the market is still in a sideway trend...
The Dollar Index is also on a strong rally and it is approaching $100 mark again. The Dollar Index formed a double bottom and it seems that we will be seeing more strength from it. Crude oil also stay above $50 amid the volatile week as we saw a record level of inventories last Wednesday.
The Dollar Index is also on a strong rally and it is approaching $100 mark again. The Dollar Index formed a double bottom and it seems that we will be seeing more strength from it. Crude oil also stay above $50 amid the volatile week as we saw a record level of inventories last Wednesday.
Macroeconomic Data
Preview for the week Monday 13 Apr to Friday 17 Apr, 2015
Economic DataMonday (13 Apr) :
- Treasury Budget : -$44.0B (Prior -$36.9B)
- Retail Sales : 1.0% (Prior -0.6%)
- Retail Sales ex-auto : 0.7% (Prior -0.1%)
- PPI : 0.2% (Prior -0.5%)
- Core PPI : 0.1% (Prior -0.5%)
- Business Inventories : 0.3% (Prior 0.0%)
- MBA Mortgage Index : (Prior 0.4%)
- Empire Manufacturing : 7.3 (Prior 6.9)
- Industrial Production : -0.3% (Prior 0.1)
- Capacity Utilization : 78.7% (Prior 78.9%)
- NAHB Housing Market Index : 55 (Prior 53)
- Crude Inventories : (Prior 10.949M)
- Fed's Beige Book
- Net Long-Term TIC Flows : (Prior -$27.2B)
- Initial Claims : 280K (Prior 281K)
- Continuing Claims : 2325K (Prior 2304K)
- Housing Starts : 1045K (Prior 897K)
- Building Permits : 1081K (Prior 1092K)
- Philadelphia Fed : 7.2 (Prior 5.0)
- Natural Gas Inventories : (Prior 15 bcf)
- CPI : 0.3% (Prior 0.2%)
- Core CPI : 0.1% (Prior 0.2%)
- Mich Sentiment : 94.0 (Prior 93.0)
- Leading Indicators : 0.3% (Prior 0.2%)
Earnings Highlights
Monday (13 Apr) :
BMO - CBSH
AMC - OZRK LAYN PBY PWRD TPLM
BMO - CBSH
AMC - OZRK LAYN PBY PWRD TPLM
Tuesday (14 Apr) :
BMO - FAST JBHT JNJ JPM SJR WFC
AMC - CSX DRWI HCSG INTC LLTC MRTN
Wednesday (15 Apr) :
BMO - ASML BAC SCHW DAL MEA PNC PGR TITN USB WSO WABC
AMC - ALSN CNS CUB KMI NFLX SNDK SCSS TCPI UMPQ UFPI WTFC
Thursday (16 Apr) :
BMO - ADS BLK BX C CY FCS FCFS FRC GS HOMB IIIN KEY NORD PBCT PM PPG PVTB SASR SHW SON TSM TZOO UNH GWW WBS
AMC - ACTG AMD AXP ASB CE COBZ CCK CYT EGP FFIN MAT NSR SLB NOW
Friday (17 Apr) :
BMO - CMA FHN GE HON RAI STX SYF
AMC - None Scheduled
Summary
Market is showing quite a upside in last week. However looking into the internals, I see more divergence instead. Maybe we might see some profit taking next week. I feel the big boys are not much active as well, perhaps their involvement will be a catalyst to the market (whether be it down or up).
Next week we will have more economic data releasing and Fed's Beige book too. I suppose market is going to be more volatile. That to be said, April is usually the most bullish month of the year.
Next week we will have more economic data releasing and Fed's Beige book too. I suppose market is going to be more volatile. That to be said, April is usually the most bullish month of the year.
Direction for Monday 13 Apr, 2015; Down
Direction for the week Monday 13 Apr to Friday 17 Apr, 2015; Up
Direction for the week Monday 13 Apr to Friday 17 Apr, 2015; Up
2015 Daily Directional Accuracy: 24/50 (48.00%)
2015 Weekly Directional Accuracy: 7/12 (58.33%)
2015 Weekly Directional Accuracy: 7/12 (58.33%)
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