Home > Uncategorized > 2012/03/13: Quick Post: Fun has just begun? Tech and Perspective from Weekly Calendar

2012/03/13: Quick Post: Fun has just begun? Tech and Perspective from Weekly Calendar

© 2012 ROHR International, Inc. All International rights reserved.

Our full Color-Coded Calendar is still available through the link in the right hand column along with the Technical Projections and Select Comments that all point out some interesting horizons. That both information and price are in play as the trends advance later this week is no surprise in a macro-technical environment that is driven by the US strength in the face of much spottier news and performance elsewhere.

And as a further improvement in our information, the Weekly Report & Event Calendar has been significantly upgraded. It now is not just color coded for the different classes of influences, but also estimates and previous release data (where applicable) have been added. We have also added the US Eastern time zone to the Greenwich Mean Time which was on the calendar previous.

And in addition to all that

…as you can already see, we will also be providing a summary Perspective on the most critical Event Horizons, as well as summary points on key economic data, central banks and finance ministries, and the most telling government debt auctions or operations. While it will still be necessary to look through the full calendar in order to appreciate all of the influences that might impact the market during the week, it is now possible to review that sort of concise summary on any of your return visits to our calendar.

There is also a Concise Market View that summarizes the most salient factors and will often link you out to some sort of previous research to refresh your view on what we were saying within our anticipatory macro-technical analysis. And in even in light of today’s major equities push to the upside and government bond weakness, we believe that this week the fun has just begun.

General Market Observations

There was little doubt that the general reinstatement of counterpoint tendencies between the equities and primary government bond markets meant that any extended June S&P 500 future (due to become lead contract on Friday) escape above the significant current and historic 1,367-69 resistance was going to foment a more generally aggressive push up in the equities.

As the S&P 500 was the last shoe to fall on US equities exceeding their summer 2011 highs, more upside momentum was to be expected once the June contract was sustaining activity above that after this morning’s gap higher opening during RTH (Regular Trading Hours.) Similarly, it was not a huge surprise that the primary government bond markets came under pressure. However, in the scheme of the still very psychological trends the lead contract S&P 500 future (still March through the close on Thursday) has already pushed significantly toward next resistance at 1,400-1,407.

EXTENDED TREND IMPLICATIONS

And that creates a very interesting “counterpoint” situation with the government bond markets; sort of a mirror image to last week’s early week equities crunch that held support and then reversed. This is because as bad as the primary government bond markets looked on their selloff today, even the discounted June futures contracts were only headed back toward support after last week’s extensive recovery bounce. The key levels to watch there are June T-note future down into the 129-24/-16 range, June Gilt future (weak sister) into the 114.50 area (with a buffer to last week’s 114.14 low), and the previously most resilient June Bund future all the way down into the 137.40 and 137.00 areas.

And it is also going to be very interesting how any of this plays out later this week because of the informational vacuum tomorrow that is followed by another intense day of central bank, bond auction and economic data influences on Thursday. Undoubtedly the US banks are in better shape than they have been for quite some time, yet what all goes on in the rest of the world may still count for something; and does not look nearly as good as the US at present. We shall see.

Thanks for your interest.

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