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FEAR NOT Brave Investors
 

Radio Tesla
 

Strange times But remember The Joker once served as the Iranian ambassador for the United Nations.

Bias - Bitcoin - Reopening

The Week That Was:

The week saw the US report the highest unemployment since the Great Depression, however stockmarkets shrugged the news off. Small cap and technology stocks push higher. The Nasdaq rose 6% recovering its losses for the year. The small cap Russell 2000 was up 5.5% and the S&P 500 up 3.5% with tech up 6.6% and consumer discretionary stocks up 4.4%. Oil continued to regain prices after being under siege with the COVID Demand destruction since coronavirus fears hit stock investors mid-February. We saw US oil drilling rigs conrinue to plummet to lows not seen since over 15 years ago.

The backdrop of the Covid-19 crisis. Despite that the stockmarket is up over 30% from lows and stubborn bears and bulls alike are frustrated based on cognitive biases. We continually focus on overcoming our biases and as the accompnaying chart highlights stocks and the economy are NOT the same thing despite what we are told by our influencers and biased or selective recalls.

Dissconnected Economy and Stocks May 2020

In todays sound bite, partisan world achieving full self-awareness has many roadblocks. Constantly we are faced by new biases from everything from the economy, geopolitics and the pandemic. We are trading in a fluid, constantly evolving world. Understand and admit you have biases is step one, with that be aware of mental obstacles that can be triggered. Remember we can't fix what we don’t know. We aren't all doctors when it comes to cures, sources and pandemics for one. We know we are living in a brutally divided political world and the upcoming presidential election will trigger biases. For your investing (and mental health) maintaining an open mindset, diversify your influener and media sources so you can not get caught with bias inertia or blindness.

Despite Bankruptcy filings picking up, we have J.C. Penney (NYSE:JCP) and Hertz Global (NYSE:HTZ) on death watch and all the uncertainty that persists regarding the coronavirus, optimism is growing that the virus may be peaking in major global hot spots. Have the Fed and Government delivered enough stimulus to provide a safety-net for corporate America?

The reality is we are experiencing unprecedented levels of unemployment claims. The US Labor Department reported the jobless claims of over 30 million in just six weeks as the Coronavirus hits the economy. This sends the unemployment rate soaring towards 13 to 15%.

The Fed left rates unchanged as expected and Fed Chairman Jerome Powell continuing on low rates and QE forever for struggling businesses and governments to take the edge off the economic damage.  The Fed QE infinity programme is a yield curve control policy with long government bond yields coming down. Bond supply and continued central bank resistance to more negative policy rates limits the move.

Central banks have been cutting rates and adding liquidity to avoid systematic failure. Where to from here?  The world isolates with added financial, fear and psychological damage escalating. Investors will continue to monitor updates related to COVID-19  in the face of depression. The virus and unexpected consequences keep “fat tail risk”, in both directions alive. 

Historically bear market rallies are fast and furious, and we are at the beginning of an economic recession (depression). In 2008 we had a 20% and 25% bounce in the S&P 500 during the total 57% top to bottom price fall. For the virus we have the great unknown with medical expertise not at a consensus how the virus destruction and recovery will play out.

Will virus cases level off in late spring and vanish so things can get back to some sort of normality by late summer? Or will there be a second wave of cases during the autumn/winter, forcing new lockdowns or leading to fear and voluntary social distancing (a W-recession scenario). For how long are you immune after having had the virus, a long time or a couple of months? Will there be a vaccine and when?

What will right the ship? At this point people seek comfort, nothing short of massive fiscal responses will gve that until the disease fear factor is reduced. Forward two weeks and we have warmer climates in the Northern hemisphere and with that hope, but then there is the Southern hemisphere.Meantime be smart and self isolate and stay in contact with loved ones.

Our best advice is stay rational and be prepared for many alternatives, either way. With crisis comes opportunity. From a market point of view this is not unprecedented, many other bubbles have popped with similar results. What is unprecedented is the pandemic, the mass media and social media fear mongering, the massive QE and printing and the strange era of entitlement and no responsibilty fed down from politicians to the youth of today for electoral purproses. Put all that together and we see the result.  Again this isn't unprecendented just a different catalyst and fuel. Stay tuned. take a breath and think clearly.

I Wonder To Myself

This maybe one of the wizard's greatest moments of redirection. "The same extreme bulls are now extreme bears, what did we tell you about the madness of crowds?"

For now the focus is that the virus incubates for around 2 weeks so how many  carriers is an exponential number. Patient zero was from Wuhan, a city of over 11 million. (Yet the infections have slowed dramatically) With this knowledge shrewd investors are looking past past earnings rebound and focusing on the spillover impact from the coronavirus on U.S. corporations.

Remember. nothing is as it seems.

Stay alert to the political and geopolitical shifts with the world in flux. Government policies related to the environment, trade and tech sit high on the watch list.  Political and economic agendas that Influence policy-making is top of the list. For the US it is not just external threats, including increased political tensions between countries but also internal threats highlighted by the partisan impeachment devide. 

Politics influence all, directly or indirectly.  The virus and psychological affect on domestic and trade relationships have the potential to impact growth strategies with unexpected consequences with this markets are also vulnerable.  In a  fully fledged stock mania, nothing matters until it does. That is the feral nature of greed. Is Coronavirus that dreaded black swan?

Behind it all is world wide low interest rates and QE pump priming by the world's major central banks,  the Federal Reserve, Swiss National Bank and ECB all preached more of the same. This has just been ramped up a notch.

Meanwhile tje Fed is committed to about 50 Billion a day in repo, funds  into the system to maintain liquidity, in its not QE4 repo program.The consumer has been keeping the economy robust. How will they act to alleviate the panic of the market drop, this is essential given the security of the repos they have out.

The fear of missing out and blind partisan politics creates intertesting bed fellows. Be alert and put your ear plugs in and watch the whole spectrum its all related, geopolitical, debt markets, commodities, stocks, herds, greed and entitlement,

The spectre of Deutschbank overhangs Europe as does the new British PM, Boris Johnson, who was released from ICU after catching the Coronavirus himself.  Their are other spectres out their we just don't know it, or want to.

"Negative yields on long-dated government securities are more reflective of distorted market conditions than of stronger sovereign credit profiles, Fitch Ratings says. Lower interest service costs support sovereign creditworthiness, but this must be weighed against the impact of the economic conditions leading to lower yields and historically high government debt levels in a number of countries.- Fitch"

We remind you to stay on your toes, ad nauseum we repeat; In this surreal world that market prices can only go up, with bizzare acceptance that we can't go down and you are a fool if you think otherwise. In saying that the old saying, the trend is your friend rings true.

Akio Morita mistakes

The Week Ahead

This week we expect continued volatility with the engulfing uncertainty of the Coronavirus and in commodity markets, particularly in oil and other commodities, not to mention unrest in Iran, Libya and Iraq.  

Geopolitical risk is on high alert with President Trump under pressure at home and abroad. There are a few American economic reports  The biggest risk alert remains valuation, the stock market’s record highs and price earnings ratio of more than 18.5 have still not been rinsed. That has obviously being adjusted after this month's crash and mass stimulus distortion.

The markets are fixated on the COVID-19 news such as the infections count update. On the data front, regional surveys will draw some attention, but most of the focus will remain on jobless claims. Job losses are expected to continue to be steep and it seems at one point that may have to tilt the risk scales. Watch for how much the data indicates further economic destruction after the surge in initial claims already means substantially higher unemployment. We saw record US unemployment, the Department of Labor reported a 20m surge in the number of unemployed people in April. We will get Apri reports on retail sales, industrial production and inflation from April,all expected to be brutal after being under lockdown. Economists polled by Reuters expect retail sales to tumble 10% in April, surpassing the record drop of 8.4% in March. Industrial production, which slipped 5.4% in March, is forecast to fall 11.6%.

Bitcoin Halving

Bitcoin has staged a huge recovery, tripling in price off it's lows:  Much has been due to the  price of Bitcoin (BTC-USD) being 'halved'. The cryptocurrency is preprogrammed to cut the reward per block mined by 50% in a halving action that occurs every four years.  This  halving means the profitability of mining bitcoin is also halved and will need to double in order to achieve the same reward as before.

 In 2012, the price of Bitcoin fell sharply after the halving day, while in 2016, it went up before falling back down in a few months. On both prior halving occasions, the long-term trend was higher prices. The halving action is expected to fire off around May 12 based on Bitcoin mining activity at which time a Bitcoin block reward will decrease from 12.5 to 6.25 coins.

 There is some important data in the week ahead,

  • Monday 
    EU Italian Industrial Production, US CB Employment Trends Index AUD Home Loans, NAB Business Confidence China CPI and PPI
  • Tuesday
    US NFIB small business survey, CPI, St. Louis Fed President James Bullard, Philadelphia Fed President Patrick Harker, Federal budget, Cleveland Fed President Loretta Mester and API Oil Inventories
  • Wednesday:
    US Mortgage Applications, PPI, Fed Chair Jerome Powell and EIA Crude Oil Invemtories
  • Thursday US Weekly Jobless Claims, Import prices, Fed vice chairman Randal Quarles testifies before Senate Banking Committee, EIA Natural Gas Storage and Minneapolis Fed president Neel Kashkari
  • Friday US Retail sales, Empire state manufacturing,Industrial production, JOLTS, Business inventories, Consumer sentiment, Baker Hughes Oil Rig Count, TIC data and CFTC Speculative net positions

For emerging markets the high US dollar means the Fragile 5 continue to shake. Argentina and Turkey are red letter risks. Voters will also be going to the polls in Poland, Indonesia, the Philippines and Thailand this year.

Over $4 trillion of EM debt matures by the end of 2020, of which around a third is denominated in foreign currency, according to the Institute of International Finance. Nevertheless Banks are telling investors to buy, buy, buy, who is selling you should ask? 

If you wanted to play in the big room at Vegas, you are living it. Understand risk and the madness of crowds for your own sanity and wealth.

Focus on yourself and what YOU CAN INFLUENCE, set your trading plan and goals in be set for 2019. One suspects it will be a year long Groundhog day for Trump, the GOP and the Democrats. We still have trade wars.

Earnings 

Analysts expect overall S&P 500 profits to drop by 12.8%, according to IBES data from Refinitiv,  a far steeper decline than the 4.7% drop projected as of April 1. Given that is a known investors (and algos) will focus pn the conference calls and outlooks.  Everyone is expecting the worse. We will see critical updates on production in coronavirus impacted regions and if there is extended halting of operations weighing on multi-nationals.

Last week we heard from Diamond Back Energy, Viper Energy, Parsely Energy, Tyson Foods, Skyworks Solutions & Shake Shack,  Etsy,  Newmont mining, Regeneron Pharmaceuticals, Walt Disney, Occidental Petroleum, CVS Health, General Motors, Twilio, Waste Management, Shopify,Moderna, Bristol-Myers Squibb and Ventas.

We start off on Monday with earnings from: AutoNation, Under Armour, Marriott, Cardinal Health, Choice Hotels, Cleveland-Cliffs, Mylan, ON Semiconductor, Zimmer Biomet, Simon Property Group, Ambac Financial, Datadog, Cabot, Caesars Entertainment, Tilray

Tuesday Earnings Include: Toyota, Allianz, Duke Energy, Vodafone, Honda Motor, Ingersoll Rand, Casper Sleep

Wednesday Earnings Include: Cisco, Jack in the Box, Tencent, Sony, Flowers Foods and Dillard's

Thursday Earnings Include: Brookfield Asset Management, Applied Materials, NortonLifeLock, Petrobras, Aurora Cannabis

Friday Earnings Include: DraftKings, VF Corp and JD.com (NASDAQ:JD)

-coment section below data-

Geopolitical Tinderbox Radar

Trade Imbalances IMF

Italy CDS
Turkey Geopolitical

Last Week's Big Stories

The Week That Was - Last Weeks Recap

Stocks

 

Stock Markets

US Major Stock Indices

Biggest Stock Winners and Losers Last Week*

SPX W Top 5 5 8 2020

 Which Stocks Moved US ETF's Last Week

 SPX W ETF Top 5 8 2020


 US Stock Indices Performance

US Indices W 5 8 2020
 

S&P 500

The S&P 500 continued its sharp reversal after the initial 3 wave down from the SPX wave 5 extension as Covid19 fed impulse accelerating under the tenkan. From there we have seen the ABC or 1-2-3. Support began at the October 2019 lows  A manic wave 5 or 3 of some degree resolution for the ages.  Recall all hallmarks of a mania, +5/8 Daily MM over the chikou in 5 violent waves.  Note the 100% extension from the emotive element and MM levels when the spit kicks in.

 SPX D 5 8 2020

The violent rebalance in the SPX is mellowing as the market seeks harmony. The spit per channel fractal and Adams rule launched back over the cloud.  Watch Chickou rebalance  off the 3 waves post spit.  Weekly tenkan key, Kijun and tenkan kisses to be watched. Watch if a spit or clear break support as chickou rebalances

SPX W 5 8 2020
 

Semiconductors ETF - SMH


 SMH W 5 8 2020

Apple $AAPL

( Leading underlying strength of US Indices)

AAPL W 5 8 2020
 

Amazon $AMZN


AMZN W 5 8 2020
 

CBOE VIX INDEX - A Reminder of RIsk Ahead of Time

Data via Ole S Hansen @Ole_S_Hansen

VIX caution: Not only did the net-short hit a record but so did the percentage of total open interest which reached 50%. History tells us that positions this elevated could leave the short side very vulnerable to a sudden change in direction $SPX $SVXY $XIV

Image

Speculators increased their VIX futures net-short by 17k lots to a RECORD 188k lots in the wk to Oct. 29. During the past month the #SPX rally has helped widen the contango thereby fueling short-selling strategies though futures and inverse ETFs $SVXY and $XIV.

 Image

Fixed Interest

10 Year Treasury Note

TNX W 5 8 2020
 

Energy and Commodities

US Crude Oil (WTI)

After WTI workied off the chikou with the outside trend line under $20 in 5 waves it quickly reversed in 3 this week to then collapse to negative -40 for May. For a reversal we need sustained impulse from here. VEry completitive for a major 5. Recall the initial collpase where math and crowd behavior tell the story right to the +2/8 and collapsed back to the break up and now through the channel, accelerating when Tenkan and 50 dma crossed.  Note 1.618 extension of previous emotive wave.

WTI D 5 8 2020

WTI has been a series of fractals. expected in algorithm dominated price action From the larger acceleration lower after broke the weekly uptrend, a fractal of the sharp and all the way to ATL lows to negative pricing we have seen mirror replications. From here we see need traction to work out from 5 waves. Key resistance is Kijun and 50wma confluence (green) which all failed after the violent spike up. Support channel and fib conflageration with MM 0 -8 and -2-8

WTI W 5 8 2020
 

 US Natural Gas (Henry Hub)

Natural Gas is nothing if consistent, another failed break despite the strength of spitting the previous low and -2/8 with an island reversal to test the Kijun and downtrend line but fell back to Tanken The big question is was that a completed move down there or a 3?   Support on downtrend Tenkan.

 NG D 5 8 2020

Natty got above the weekly tenkan but failed to hold it at week's end after the weekly Kijun and 50wma kissed above..  Talking fractals, remember the tenkan/kijun kiss of death.brought it down from the md $2 range  Much work to do here through channels.

.NG W 5 8 2020

  Baltic Dry Index (BDI)


BDI W 5 8 2020
 

Precious Metals

Gold

Gold exuded strength after it back tested the previous wave 3 after finally cracked the Tenkan after correcting in 3 waves from 1556 to Murrey Math +3/8. Concern is the negative divergence between the weekly chikou and the recent highs. Support is Kijun while market decides. From there does the 5 play out?  Watch Fibs and chikou.
 Gold W 5 8 2020

Silver

Earlier Silver diverged further from gold not breaking the previous iii or C as Gold did.  Silver reversed with much more violent impulse than gold after correcting the 3 or C. Given that we have to repsect this is a IV  but  here is also a chance this is an X.

 Silver W 5 8 2020

Currency Markets

Australian Dollar - AUDUSD

Aussie dollar competed 5 waves in emotive balance with vigor spitting the 100% panic muster. It has stalled at the 50 Wma in 5 waves Resistance with the cloud is a long way off. We watch the panic wave fibs for clues. From here we watch for 2 or X

AUD W 5 8 2020

 New Zealand Dollar - NZDUSD

The Kiwi mirrored the AUD spit with a stronger bounce correcting all of the panic muster wave. We are now above the Tenkan, which is pivotal. The Chikou is re balancing. ;

NZD W 5 8 2020
 

Canadian Dollar - USDCAD

The Loonie after spitting the 261% Fib & Weekly 8/8 has formed a flag on the old swing line - watch the MM grid and old Fib ext lvls

CAD W 5 8 2020
 

Euro - EURUSD

A lesson in channel spits (false breaks) - spat cloud to collapse, back thru top of channel in classic ABC & then accelerated after held tenkan Kijun kiss of death in 5 waves. Spat bottom and now back mid channel - watch for impulse off Chikou rebalance and Kijun above. Again governed by EURGBP and Bund volatility. 

EUR W 5 8 2020


 EuroPound - EURGBP

Back testing after its classic ABC out of failure following the X wave. Tenkan will give us a clue if normalcy is returning to the channel trade.

EURGBP W 5 8 2020
 

Japanese Yen - USDJPY

Classic channel trade, has been a series of failures and sharp bounces after X led 3 wave panic. Any change will come from the weekly Kijun. Use your Murrey 6/8 0/8 grid for now. #EURJPY #AUDJPY will determine risk on/off

JPY W 5 8 2020

 Mexican Peso USDMXN

The Peso collpased with a 261%  move after it broe the weekly bear flag. We have seen violent moves with outisde uncertainty from oil and COVID19. Use the Gann octave and the extension fibs to help measure the noise.  


MXN W 5 8 2020 


 Turkish Lire USDTRY

USDTRY impulse higher continued after weekly  Kijun and Tenkan support back above cloud  Impulse is needed to pull away from here. Support is the previous break up and tenkan and Kijun. Keep an eye on geopolitical risk factors.

 TRY W 5 8 2020

Bitcoin

Nothing new for Bitcoin, more of the same as it continues to falter after 61.8% spit. Well under the tenkan and kijun. Needs to test downtrend for higher correction. Use your MM rules as algos control the herd here, support is the cloud - we said be wary of sharp ABC, 1-2 moves.

BTC W 5 8 2020
 

The Week Ahead

Key US Economic and Central Bank Events This Week

Sunday, May 10, 2020

  • 18:45 NZD Electronic Card Retail Sales (MoM) (Apr)
  • 18:45 NZD Electronic Card Retail Sales (YoY) (Apr)
  • 19:50 JPY BoJ Summary of Opinions

Monday, May 11, 2020

  • 02:45 EUR French Reserve Assets Total (Apr)
  • 04:00 EUR Italian Industrial Production (MoM) (Mar)
  • 10:00 USD CB Employment Trends Index (Apr)
  • 11:30 USD 3-Month Bill Auction
  • 11:30 USD 6-Month Bill Auction
  • 13:00 USD 3-Year Note Auction
  • 19:50 JPY Foreign Reserves (USD) (Apr)
  • 21:30 AUD Home Loans (MoM)
  • 21:30 AUD Invest Housing Finance (MoM)
  • 21:30 AUD NAB Business Confidence (Apr)
  • 21:30 AUD NAB Business Survey (Apr
  • ) 21:30 CNY CPI (MoM) (Apr)
  • 21:30 CNY PPI (YoY) (Apr)

Tuesday, May 12 2020

  • 01:00 JPY Coincident Indicator (MoM) (Mar)
  • 01:00 JPY Leading Index (MoM) (Mar)
  • 06:00 USD NFIB Small Business Optimism
  • 08:30 USD CPI (MoM) (Apr)
  • 08:30 USD Real Earnings (MoM) (Apr)
  • 08:55 USD Redbook (MoM)
  • 10:00 USD FOMC Member Harker Speaks
  • 10:00 USD FOMC Member Quarles Speaks
  • 11:00 USD Cleveland CPI (MoM) (Apr)
  • 12:00 USD WASDE Report
  • 13:01 USD 10-Year Note Auction
  • 14:00 USD Federal Budget Balance (Apr)
  • 16:30 USD API Weekly Crude Oil Stock
  • 17:00 USD FOMC Member Mester Speaks
  • 18:45 NZD FPI (MoM) (Apr)
  • 19:00 KRW Unemployment Rate (Apr)
  • 19:01 GBP BRC Retail Sales Monitor (YoY) (Apr)
  • 19:50 JPY Current Account n.s.a. (Mar)
  • 20:30 AUD Westpac Consumer Sentiment (May)
  • 21:30 AUD Wage Price Index (QoQ) (Q1)
  • 22:00 NZD RBNZ Interest Rate Decision
  • 22:00 NZD RBNZ Monetary Policy Statement
  • 22:00 NZD RBNZ Rate Statement
  • 23:00 NZD RBNZ Press Conference

Wednesday, May 12, 2020

  • 01:00 JPY Economy Watchers Current Index (Apr)
  • 02:00 GBP Business Investment (QoQ) (Q1)
  • 02:00 GBP Construction Output (MoM) (Mar)
  • 02:00 GBP GDP (MoM)
  • 02:00 GBP Index of Services
  • 02:00 GBP Industrial Production (MoM) (Mar)
  • 02:00 GBP Manufacturing Production (MoM) (Mar)
  • 02:00 GBP Trade Balance (Mar)
  • 05:00 EUR Industrial Production (MoM) (Mar)
  • 07:00 USD MBA 30-Year Mortgage Rate
  • 07:00 USD MBA Mortgage Applications (WoW)
  • 07:00 USD MBA Purchase Index
  • 07:00 USD Mortgage Refinance Index
  • 07:00 USD OPEC Monthly Report
  • 08:30 USD PPI (MoM) (Apr)
  • Tentative GBP NIESR GDP Estimate
  • 10:30 USD Crude Oil Inventories
  • 13:00 USD 30-Year Bond Auction
  • 19:01 GBP RICS House Price Balance (Apr)
  • 21:00 AUD MI Inflation Expectations
  • 21:00 NZD Budget Balance (Jan)
  • 21:00 NZD Net Debt Forecast (Jan)
  • 21:00 NZD Economic Forecast (Jan)
  • 21:30 AUD Employment Change (Apr)
  • 21:30 AUD Full Employment Change (Apr)
  • 21:30 AUD Participation Rate (Apr)
  • 21:30 AUD Unemployment Rate (Apr)
  • 22:00 NZD Annual Budget Release

Thursday, May 14, 2020

  • 01:30 EUR French Unemployment Rate (Q1)
  • 02:00 EUR German CPI (MoM) (Apr)
  • 02:00 EUR German HICP (MoM) (Apr)
  • 02:00 EUR German WPI (MoM) (Apr)
  • 02:00 JPY Machine Tool Orders (YoY)
  • 02:30 CHF PPI (MoM) (Apr)
  • 03:00 EUR Spanish CPI (MoM) (Apr)
  • 03:00 EUR Spanish HICP (MoM) (Apr)
  • 04:00 EUR Italian Trade Balance (Mar)
  • 04:00 EUR ECB Economic Bulletin
  • 05:30 ZAR Mining Production (Feb)
  • 08:30 USD Export Price Index (MoM) (Apr)
  • 08:30 USD Import Price Index (MoM) (Apr)
  • 08:30 USD Continuing Jobless Claims
  • 08:30 USD Initial Jobless Claims
  • 08:30 USD Jobless Claims 4-Week Avg.
  • 08:30 CAD Manufacturing Sales (MoM) (Mar)
  • 10:30 USD Natural Gas Storage
  • 10:30 CAD BoC Financial System Review
  • 11:15 CAD BoC Gov Poloz Speaks
  • 11:30 USD 4-Week Bill Auction
  • 11:30 USD 8-Week Bill Auction
  • 17:00 KRW Export Price Index (YoY) (Apr)
  • 17:00 KRW Import Price Index (YoY) (Apr)
  • 18:30 NZD Business NZ PMI (Apr)
  • 19:50 JPY PPI (MoM) (Apr)
  • 22:00 KRW Trade Balance (Apr)
  • 22:00 CNY Fixed Asset Investment (YoY) (Apr)
  • 22:00 CNY Industrial Production (YoY) (Apr) .
  • 22:00 CNY Retail Sales (YoY) (Apr)
  • 22:00 CNY Chinese Unemployment Rate
  • 22:00 CNY NBS Press Conference

Friday, May 15, 2020

  • 02:00 EUR German GDP (QoQ) (Q1)
  • 02:00 EUR German PPI (MoM) (Apr)
  • 02:45 EUR French CPI (MoM) (Apr)
  • 02:45 EUR French HICP (MoM) (Apr)
  • 04:00 EUR Italian Industrial New Orders (MoM) (Mar)
  • 04:00 EUR Italian Industrial Sales (MoM) (Mar)
  • 04:30 HKD GDP (QoQ) (Q1)
  • 05:00 EUR Italian CPI (MoM) (Apr)
  • 05:00 EUR Italian HICP (MoM) (Apr)
  • 05:00 EUR Employment Change (QoQ)
  • 05:00 EUR Employment Overall (Q1)
  • 05:00 EUR GDP (QoQ) (Q1)
  • 805:00 EUR Trade Balance (Mar)
  • 06:00 EUR Reserve Assets Total (Apr)
  • 08:30 USD NY Empire State Manufacturing Index (May)
  • 08:30 USD Retail Sales (MoM) (Apr)
  • 08:30 CAD Foreign Securities Purchases (Mar)
  • 08:30 CAD Foreign Securities Purchases by Canadians (Mar)
  • 09:15 USD Capacity Utilization Rate (Apr)
  • 09:15 USD Industrial Production (MoM) (Apr)
  • 09:15 USD Manufacturing Production (MoM) (Apr)
  • 10:00 USD Business Inventories (MoM) (Mar)
  • 10:00 USD JOLTs Job Openings (Mar)
  • 10:00 USD Michigan Consumer Sentiment (May)
  • 13:00 USD U.S. Baker Hughes Oil Rig Count
  • 15:30 USD CFTC speculative net positions
  • 16:00 USD US Foreign Buying, T-bonds (Mar)
  • 16:00 USD Overall Net Capital Flow (Mar)
  • 16:00 USD TIC Net Long-Term Transactions (Mar)
  • 16:00 USD TIC Net Long-Term Transactions including Swaps (Mar)

Saturday, May 16, 2020

Stock Buyback Watch

 

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Note these charts, opinons news and estimates and times are subject to change and for indication only. Trade and invest at your own risk.

Trade Smart!

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