Home > Uncategorized > 2012/09/03: Quick Post: Weekly Calendar & Tech Now Available

2012/09/03: Quick Post: Weekly Calendar & Tech Now Available

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

It’s a holiday, so this will be very brief indeed. Technical Projections and Select Comments are already available via the link in the right hand column. The Weekly Reports & Events Calendar is also already posted, and that is important due to the economic data from the rest of the world being released today on schedule today. We will also be posting the weekly Summary Perspective on Key Influences tomorrow morning.  

Of course, the overriding (some would say ‘overbearing’) presence of the Kansas City Fed Jackson Hole Symposium last Friday turned out to be the big non-event we had expected (except possibly for the further inflation anticipation in the Gold market.)“We have steps we can take if conditions deteriorate” options are really not quite the same as the immediate sugar rush.

So it shifts into the more critical influence (as we have noted for some time)

 

 

…of the debt (psychological as opposed to any actual bond maturation) coming due on ECB President Draghi’s late July remarks regarding “do whatever is necessary” to save the euro. In addition to the ECB meeting and press conference on Thursday, there are a series of meetings to decide when, and even if, the Germans and other northern tier states are going to agree the further massive aid to assist the weaker sisters.

On past form, by Thursday we will get more commitments to meet, but no definitive agreement on actual process or funding. Further commitments to “do whatever is necessary” will not be nearly as comforting more than a month after Draghi’s initial statements on that at the end of July. With the economic data substantially confirming a weakening trend into the second half (and possibly beyond), these politico-economic moves to prevent even more damage from Europe are more important than ever.

Watch the technical levels closely for signs of a more definitive trend decision now that the Euro-zone situation is reaching a more critical juncture than any seen in the past several months. And keep in mind the S&P 500 future and primary government bond markets are headed into the key quarterly futures expiration ‘rollover’ to December contracts that will impact the ‘lead contract’ technical indications.

Thanks for your interest.

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