Home > Uncategorized > 2013/09/27: TrendView VIDEO Analysis: Equities

2013/09/27: TrendView VIDEO Analysis: Equities

© 2013 ROHR International, Inc. All International rights reserved.

VIDEO ANALYSIS & OUTLOOK: After Market for Thursday, September 26, 2013.

 130926_SPZ60_30VID_1530

 EQUITIES

The video timeline opens with some macro factor discussion, and continues with December S&P 500 future short-term view at 03:00 and intermediate term analysis from 04:50. The mention of the other equities, govvies and foreign exchange is from 07:20, with a brief return to the short-term December S&P 500 future from 09:10.

For anyone who has not already seen them, we suggest viewing Equities & Fixed Income as well as Foreign Exchange TrendView video analyses available in the blog from yesterday morning for a more extensive discussion of the various asset classes’ trend dynamics.  

General Market Observations

The December S&P 500 future has dropped down into the 1,682-78 critical support. As we point out in the video, nest lower support if that area fails is not until the low-1,640s and into the 1,630s.

EXTENDED TREND IMPLICATIONS

While it is not surprising that the govvies are enjoying the equities weakness, the strength in the euro, pound and yen against the US dollar is very interesting. While most recent equities weakness has cast a pall on the prospects for global growth that has helped the US dollar, there are recent instances when it has weakened along with equities. And not surprisingly in those cases, it was when the US was the center of either weak data or political dysfunction… and we certainly have plenty of the latter at present.

What is interesting about the mostly constructive economic data out of Asia and Europe into the US this morning is how thoroughly it has been trumped by the unsettled US and now Italian political machinations. While Italy has a more critical decision in the wake of Mr. Berlusconi’s conviction, it is amazing that once again the US Congress has turned a manageable situation into a potential crisis. We do not necessarily agree with President Obama’s assessment that these are all fabricated crises, but the way the Republicans are going he will be able to tar them with that brush. You’d think the GOP would have learned its lesson back in 1995-1996 and in the serial failures of subsequent actions of this type.

Thanks for your interest.

p.s. As we are just back to blogging after a lengthy hiatus, some of the information on the blog is a bit dated. We will be clearing that up soon, and all of the current critical information (Calendar, Perspective, Technical Projections) is up to date.

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