This morning’s release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 150.0, down 0.4 from the previous week. Year-over-year the four-week moving average of the indicator is now at 3.56%, up from 3.08% last week. The WLI Growth indicator is now at 4.1, up from the previous week. The…
This week’s Sentiment Survey report from the American Association of Individual Investors continues to show a falling trend in the level of bullishness of individual investors. This week’s bullishness reading was reported at 28.4% and down from 36.9% in the prior week. The current bullishness reading is near the minus 1 standard deviation level and these sentiment…
The BLS reports March jobs as +164K with the unemployment rate falling to 3.9%. Revisions were positive, wages anemic. Initial Reaction Today’s establishment survey shows jobs rose by 164,000. The household survey (Table A) shows employment rose by a mere 3,000. Once again there are wild swings and divergences between the two surveys. The Econoday consensus…
Gold short-term Elliott Wave view suggests that the rally to 4/11 high at 1365.24 ended Minor wave B. Below from there, the decline is unfolding as an impulse Elliott wave structure in Minor wave C of (B) lower. This structure forms a bigger FLAT Elliott Wave structure which starts from 1/25 peak. Internals of each leg to the downside,…
My Swing Trading Approach Similar to yesterday, I will take a very cautious approach with this market. Less is more in this market and I do not want to rapidly increase my long exposure with such incredible uncertainty. Only under very bullish circumstances today, will I add additional long exposure to my portfolio. Indicators VIX –…
NFP DISAPPOINTS, USD BULLS RESPOND TO QUICK PULLBACK TO BRING FRESH HIGHS April Non-Farm Payrolls data was released out of the United States this morning, and the headline number came-in with disappointment as the +163k print was unable to match the expectation of +191k. On the bright side, the unemployment rate did drop to a fresh…
Cloud-based enterprise applications provider ServiceNow (NYSE: NOW) recently announced its first quarter results. As usual, the company continued to outpace market expectations. In fact, given ServiceNow’s performance, the company was recently qualified as one of the “cloud kings” by analyst Jim Cramer. It has been one of my favorites as well. ServiceNow’s Financials ServiceNow saw…
Cloud-based enterprise applications provider ServiceNow (NYSE: NOW) recently announced its first quarter results. As usual, the company continued to outpace market expectations. In fact, given ServiceNow’s performance, the company was recently qualified as one of the “cloud kings” by analyst Jim Cramer. It has been one of my favorites as well. ServiceNow’s Financials ServiceNow saw…
US companies added 168,000 workers in April, moderately more than the 138,000 gain in the previous month, which marked the softest increase since last September, the Labor Department reports. The advance kept the annual trend steady, which suggests that moderate growth for the labor market overall remains a reasonable forecast for the near term. Private employment increased…
What will Housing Bubble 2 do when mortgage rates hit 6%? Wow, this was fast. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances – $453,100 or less with 20% down) jumped to 4.80% for the week ending April 27, from 4.73% in the prior week, and from 4.66% two weeks ago,…
