The Morning Call
9/29/21
The
Market
Technical
Tuesday in the
charts.
To add to the
above, (1) the S&P, after a one stay above the downtrend off its 9/2 all-time
high, is back below it and near to challenging its 100 DMA,
(2) the long bond
is now below [a] the lower boundary of its very short term trading range {if it
remains there through the close today, it will reset to a downtrend}, [b] its
100 DMA {if it remains there through the close on Thursday, it will revert to
resistance} and [c] its 200 DMA {if it remains there through the close on
Friday, it will revert to resistance}and
https://www.zerohedge.com/the-market-ear/c7x7le4cw2
(3) the dollar made
a ten month high yesterday.
In short,
important technical support levels are being tested across multiple markets.
October has a
history of big swings.
https://quantifiableedges.com/october-has-a-history-of-big-swings/
Fundamental
Headlines
The
Economy
US
Weekly mortgage
applications fell 1.1% while purchase applications were down 1.0%.
September consumer
confidence came in at 109.3 versus consensus of 114.5.
The September
Richmond Fed manufacturing index was reported at -3 versus +9 recorded in August.
International
August UK mortgage approvals were 74,500
versus estimates of 73,000.
The September EU
consumer confidence index was -4, in line; the economic sentiment index was
117.8 versus 116.9; the industrial sentiment index was 14.1 versus 12.5; the
services sentiment index was 15.1 versus 15.5.
Other
The trend in new home sales.
Regional Fed bank manufacturing indices overview.
Environmental demands and energy prices.
Also.
And power crisis deepens in Europe and Asia.
https://www.zerohedge.com/markets/power-crisis-deepens-asia-and-europe-what-it-means-shipping
Evergrande to default on second offshore bond
issue.
The
Fed
Are we entering a new global tightening
cycle?
https://www.zerohedge.com/markets/we-are-entering-most-aggressive-global-hiking-cycle-decade
The
coronavirus
Covid versus Spanish flu stats.
https://scottgrannis.blogspot.com/2021/09/covid-vs-spanish-flu-chart.html
Bottom line.
Estimating future
stock returns.
https://alephblog.com/2021/09/25/estimating-future-stock-returns-june-2021-update/
The delusion of
control.
https://www.evidenceinvestor.com/the-control-delusion/
News on Stocks in Our Portfolios
What
I am reading today
The
enduring relevance of Mises/Hayek’s critique of socialism.
https://www.aier.org/article/the-enduring-relevance-of-mises-and-hayeks-critique-of-socialism/
Quote
of the day.
Visit Investing
for Survival’s website (http://investingforsurvival.com/home)
to learn more about our Investment Strategy, Prices Disciplines and Subscriber
Service.
No comments:
Post a Comment