SP 500 and NDX Futures Daily Charts - First of the Year Roller Coaster, Say What?

Stocks were on a tear higher today despite the worse than expected unemployment claims.

The pundits were talking about 'oil stabilizing' as given a boost to stocks, and the foolishness of the first few days of the year correction, but in reality it was the reassuring words from the Fed head last night that the money spigots would remain open, never fear.

Tomorrow is a Non-Farm Payrolls report. The consensus of economists says 240,000 jobs added for the big headline. I am sure the trade will take its cue from this, and it will be interesting to see how they will interpret a better or worse than expected number.

It is pretty pathetic really, watching adults have these histrionic discussions on Bubblevision.   The financiers will never see it coming, again. 

Have a pleasant evening.

 

 

 

Secrets of the Manor House: From the Edwardian To the Modern

Changes that led to the decline of the traditional British aristocracy and the Empire, which had come to their zenith with globalization and the great fortunes which had been created in England and America with the Industrial Revolution.

 

Many of the social phenomena that we see today could be viewed as an attempt to roll back the changes of the 20th century and the rise of the 'common man.' 

 



British Conservative Party Poster c.1909



Gold Daily and Silver Weekly Charts - Gold Capped at the 100 DMA (Again)

Gold took a pause today, with silver holding its level a bit better.

So far the 100 DMA is holding gold down firmly in place, as the 130 day moving average is holding up the SP 500.  That 100 DMA is a mark watched by many traders, so this may just be a technical reaction to a short term overbought market.

 

The silver strength was a bit reassuring, but the price moves in the precious metals through Monday should tell us the real story.

We paid $1.73 for gasoline today at a Costco. That seems a bit unnatural, but enjoy it while you can. 

I think it does help to demonstrate how artificial the $4.00+ prices had been.

I think long oil might be a good play sometime this year. I would imagine it will show up in time for the Summer driving season, but let's wait for the market to tell us.

Have a pleasant evening.

 

 

 

 

SP 500 and NDX Futures Daily Charts - Recovery, For Some

US equities bounced off key support today. What a surprise.

The reasons for this were the 'better than expected' jobs number from ADP, and expectations of money printing stimulus for Europe by the ECB.

The first chart below shows how 'well-behaved' the SP 500 has been throughout this rally, with one slip.

There is no reason to suspect that the Banks and Wall Street will put a halt to their money machine just yet.

The Fed minutes for the last meeting were released at 2 PM today, with some jawboning about raising rates some time later this year.

The big tickle is going to be the Non-Farm Payrolls Report on Friday, and next week we kick off the 4Q2014 earnings season. Oh joy.

Have a pleasant evening.