Home > Uncategorized > 2012/03/19: Quick Post: Weekly Reports & Events Calendar and Perspective

2012/03/19: Quick Post: Weekly Reports & Events Calendar and Perspective

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

The full calendar is available through the link in the right hand column. The focused comments below it will be available in the calendar section shortly after the weekly calendar is posted each week as Summary Perspective on Key Influences. We hope you find that useful as well.

It’s very different this week from last once again, due to the shift back from early week influences last week to a more intense focus on mid-late week economic data and central bank activities of various types. Which is kind of interesting, because we are now through with major central bank rate decision meetings, statements and press conferences for this month.

That said there are no small number of central bank reports which are going to make this week interesting, along with significant speaking engagements. With the Greek Debt Deal PSI (Public Sector Involvement) and subsequent default behind the markets without any ostensible real crunch, it will be most interesting to see how the additional discussion proceeds from here.

That includes just how quickly the realization dawns that everyone that the extreme austerity is not going to actually create the desired fiscal healing that the “austerity first” camp would like to believe. While that may take some time in the case of Greece, there is also Portugal and possibly even Spain to consider on the fiscal front. However, for right now, the temporary liquidity solution in Greece seems to have cooled down the prospect of an immediate crisis derailing the equities rally, or encouraging any sort of haven bid in the primary government bond markets.

General Market Observations

All trend indications remain very much consistent with the view expressed in last Thursday’s TrendView  MARKET ALERT perspective, with its link back to the previous day’s discussion of the trend activity in the equities, govvies and foreign exchange.  As we have noted for the previous couple of weeks, June S&P 500 future 1,367 was the key, as it was the lead contract extreme trading high from last May. As the NASDAQ 100 and DJIA had already been above equivalent highs over the past couple of weeks, any convincing escape of the lead June S&P 500 future would represent a more decisive indication of bullish momentum. And the next critical resistance is at the top of 1,400-07 range.

EXTENDED TREND IMPLICATIONS

Also noted in our recent research and Rohr-Blog posts was the degree to which the June S&P 500 future push (in fact a definitive daily opening gap higher) above that key 1,367 level last Tuesday was finally being fully reflected in the activity of other major asset classes; and especially long-dated primary government bond markets. Please refer to last Thursday’s TrendView  MARKET ALERT and also last Wednesday’s BRIEF UPDATE for the revisit to extended background (on views we began to express at the top of the month) on our suspicions regarding what would occur if the equities trend actually succeeded in escaping that major resistance.

Thanks for your interest.

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