The Morning Call
3/8/22
The
Market
Technical
Monday in the
charts.
https://www.zerohedge.com/markets/carnage-everywhere-market-begins-break
Note: the S&P,
having made a fifth lower high, is now challenging the lower boundary of its
short term trading range. If it remains
there through the close on Wednesday, it will reset to a downtrend. It also finished near, though still above, the
23.6% Fibonacci retracement level.
More bears than
bulls.
https://allstarcharts.com/morebears22/
Volatility in
everything is spiking.
https://sentimentrader.com/blog/the-volatility-of-everything-is-spiking--7-3-2022/
Bond volatility is
spiking.
https://www.zerohedge.com/the-market-ear/cq-g2os5zj
Nickle trading is
halted after 250% surge.
Fundamental
Headlines
The
Economy
US
The February small
business optimism index was reported at 95.7 versus expectations of 97.0.
The January trade balance
was -$89.7 billion versus forecasts of -$87.1 billion.
International
Q4 EU GDP grew 0.3%,
in line.
The
preliminary January Japanese leading economic indicators came in at 103.7
versus consensus of 104.2.
The
January/February Chinese trade balance was +$94.9 billion versus estimates of
+$99.5 billion.
January
German factory orders rose 1.8% versus predictions of +1.0%; January retail
sales were up 2% versus 1.8%; January industrial production was up 2.7% versus
+0.5%.
Other
Fiscal
Policy
Greedy corporations are not the cause of
inflation.
Just what the doctor ordered---more debt.
Geopolitics
The US is not trying high level diplomacy to end
conflict in Ukraine.
https://www.zerohedge.com/geopolitical/us-not-trying-high-level-diplomacy-end-fighting-ukraine
Bottom line.
Update on the
Buffett indicator.
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