The global markets were anxious by the action of the 200-day moving averages and their reference points to the global equity markets. As of writing, the DAX, SPOOS and CAC have joined the others that began the week below their 200-days. The NASDAQ 100 futures index is struggling to hold support on the vaunted moving average, currently at 4381.01 on the CQG daily continuation chart. While equity markets have swooned, gold and silver found buyers as investors have momentarily sought refuge from what has been the great haven of the last three years: Large cap, high dividend stocks combined with a growth piece have provided the consummate investment vehicle for investors leaving the REPRESSIVE returns from low-risk credit markets. While volume has been low in typical summer fashion, the breakdown in favored moving averages and strength indicators suggests there is definitely nervousness in global equity markets.
Bond markets are rallying as yields decline on the longer end of the curve and this is also a global phenomenon and not just a result of yesterday’s FOMC premature release. Flattening curves in conjunction with equity corrections is certainly a development to be closely watching. In Germany, the DAX is testing downsides level that synch with the important date of January 22, when President Draghi laid out the ECB’s QE program. (DAX futures closed at 10,307 on January 21.) The sudden resignation is a non-event for the next few weeks as it is a political maneuver by Prime Minister Tsipras to consolidate his power by ridding his coalition of the far-left and build a coalition of the sound and rational that will provide the support to placate Greece’s creditors. More to look at next week.
YRA HARRIS ANNOUNCEMENT: I will be on the new Wall Street Week with Anthony Scaramucci and Gary Kaminsky as a panelist with main guest, stock picker and bottom-up analyst Mario Gabelli. It airs on FOX-TV (that’s your local FOX station, not the cable channels) at 11 a.m. EST/10 a.m. CST on SUNDAY, AUGUST 23. Be sure to watch and support Anthony and Gary’s efforts to raise the standards of financial analysis and news to the high level established by the highly respected Louis Rukeyser. Please watch and become a regular viewer. If, you are like one of my progeny and don’t have TV, the show will simultaneously be streaming here: www.wallstreetweek.com.
Tags: CAC, DAX, Equities, FOMC, QE, S&P 500, Wall Street Week
August 20, 2015 at 3:16 pm |
Can’t find station or program by name at that time.
August 20, 2015 at 4:04 pm |
bob–on regular FOX–on my comcast it is channel 12 at 10 a.m.
August 20, 2015 at 5:40 pm |
Go Yra on taking it to the next level of visibility. You deserve every opportunity you get.
August 20, 2015 at 8:25 pm |
Can’t wait, Cheers!
August 21, 2015 at 12:33 am |
I’ll be watching from England Yra, have a good show. You’ve got a good following in this country.
August 21, 2015 at 2:34 am |
I used to watch the show when a wonderful man called Louis Rukeyser ran it. I was riveted from the very start. In the UK we didn’t really seem to have people like this outside the boardrooms of banks and Mr Rukeyser helped me begin to formulate how I would analyse the markets. He stood me in good stead with the best and brightest.
I believe that you will bring the same gravitas to the show you will be on that you do to everything else.
Somewhere out there is another young limey listening very intently to those who understand the great game.
Break a leg and we certainly will be STREAMING you as we use a raspberry pi running Kodi to pick up pretty much every channel on the planet.
August 21, 2015 at 11:58 am |
Thanks for the support mates–have a great weekend ,Yra
August 22, 2015 at 3:29 pm |
No problem Yra you probably analysed this week was on the cards when you recorded it, if so I REALLY hope they emphasis that in the introduction which I assume is more current.
I read a nice article in the W/E ft entitled “torrid times on horizon for emerging market economies” that I would value you opinion on. My take is that EM are better prepared this time BUT would take a thrashing if the fed hikes, in that instance only India wins as it imports alot of energy and commodities ( I think)
anyway we will be glued to the nook ( we run a modified os on $30 nooks, this means they are effectively cheap ipads We watch tv on when we are out and about, we don’t care if they get stolen).
August 23, 2015 at 2:23 pm |
bummer 18 minutes to Mr G segment 10 minutes to remainder and only about 3 minutes to Trotsky. Who do we rendition to get him more airtime. Seriously nice work Yra, you got some excellent points across ESPECIALLY the observation that Sec Yellen is a big fan of wage inflation. I also liked the 2/10 curve observation BUT I don’t really get it. Maybe you can explain it to me over a slap up meal in our fav diner 🙂
well done Trotsky